Peer to Peer Lending

The rapidly growing peer to peer lending space provides ample opportunity for borrowers and lenders to achieve their goals. Borrowers are often able to obtain loans at interest rates lower then a bank would offer and lenders are able to collect an interest rate higher than they could with many other investments. No matter if you are borrowing or lending, one of the keys to being successful with this is finding the right company for your needs. Many of the P2P companies specialize in different areas, see below for additional details.

Peer to peer lending (also referred to as P2P lending) is not new, it has been around for several years (starting in 2005 with Zopa), however it is now starting to hit the main stream. This model works better with more people involved as there are more opportunities for lenders and more lenders for borrowers. Basically creating a market where lenders and borrowers have a better chance of finding the right combination and the necessary number of people to fund loans without putting too large a burden, and risk, on any one lender. This results in more loans for borrowers funded at better rates.

P2P Lending Companies
There are probably more P2P lending companies then you expected. We have broken them down by category below to help narrow the search to the ones you may be interested in. If peer to peer lending is not for you, see the next section below where we provide a link to a list of other online lending companies.

Many of the peer to peer lending companies only lend in certain countries, therefore we have created a list of all P2P lending companies no matter which company they lend in. Here we will concentrate on companies that lend in the United States of America and show the companies based on the loan purpose they specialize in. The links below will provide additional details on each company from the borrower and lenders point of view.

There are several P2P lending companies that provide loans for many purposes. They are not the same however. Some have fixed rates based on your credit score, others allow lenders to bid against the loan, creating a market that determines the rate by what lenders are willing to bid. Others are geared towards friends and family lending to each other therefore let the parties set the rate.

Payday Loans are also available through peer to peer lending.

Yadyap

Business loans. Of course the general P2P lending sites, listed above, can also be used for business loans but here is one that specializes in business loans. For more on business loans see unsecured business loan.

40billion

No need for students to feel left out, there are P2P student loans. The following companies provide student loans.

Fynanz

SchoolRaise

Greennote

Other Online Lending Companies If you are concerned about P2P lending and feel it is not the right option for you, all is not lost. There are plenty of other online loan options, see online lending companies.

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