Forums: Discussions for entrepreneurs and small business.

A new genre of lending and borrowing has come as a messiah for several entrepreneurs and business start-ups everywhere.

It is called P2P or peer-to-peer lending, where the borrower takes a loan from an individual rather than a lending institution. This is fast becoming a preferred mode of borrowing money as it commands greater efficiency, lower interest rates, and virtually no running around! ...Read More

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That somewhat a really great way of borrowing money, but still there must be some clause behind it. Currency trading may seem very complex and risky. However, we must understand that the medium of exchange is a very simple system and can be performed by anyone. One great advantage of currency trading is that it is not based upon the commission. Therefore, you get to keep the whole benefit for your investments.

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I went into Prosper as a lender putting $3000 into the system. I made a lots of low lends ($50-$100 loans) mainly to AA, but some As, a few Bs, and very few Cs. 3 years later, I am in the hole $500. At this point in my lending prowess, I’m clearly not good enough at discerning good candidates to lend money too so I’ve stopped peer-to-peer lending completely. I have many other investments that pay back at least something. If I were a borrower, I would absolutely use P2P as a funding source. The terms are super, and the rates can be stellar.

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Prosper.com is the most popular peer-to-peer lending network (that I'm aware of). As with any financial vehicle, there are pros and cons to using this type of funding. But if you'd like to avoid the hassle and complications of a bank loan, it might be something worth considering...

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You know ... banks do their thing about lending money and they have pretty much learned the ways to lend money profitably and the ways that they get burned. Do you think you know more about lending money than banks? If so, lend away.

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Sad to say... I can not avail of prosper.com's services because of the country that I am in... so I am trying hard to find someone who can fund me on a P2P Person to Person lending.  I hope someone out there is kind enough to help... :)

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P2P loans could be efficient but could also leave you in the dark. I also think that big bank loans are a bad decision, so why not meet halfway in the middle? A company like Verifico will put people in touch with verified consultants who can help them get loans. Instead of talking to a robot, you can your own personal consultant to help you with everything over a safe and easy online platform. Head over to verifico.com to check it out!

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Research peer to peer lending sites and consider your own risk levels to decide which site will best fit your approach. On Prosper.com, you can set your own interest rate and hand pick loans that meet your risk level. However, the loans are not guaranteed and your borrows could potentially skip payments or default.

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Realize that the method of return is a very easy program and can be conducted by anyone. I have many other assets that pay at least something. If I were a client, I would definitely use P2P as a financing resource. The conditions are extremely, and the prices can be outstanding.

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Thanks
Ricky Mik
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In the past few years, a new paradigm for borrowing money emerged, where people with money to lend extend funds to borrowers directly. Called “peer to peer lending,” the model has begun to slowly mount a real challenge to conventional lending channels. Peer to peer lending services continue crowd funded growth. The model is fairly simple; people with money to lend can review applications from people who want to borrow. If a person decides to lend, he or she sets terms like interest rates and so forth.

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