Browsing Category: "Loans"
Get a Peer to Peer Loan with Lending Club
Getting a peer to peer loan is a novel way to borrow money, especially considering that fact that banks have been pretty tightfisted with their money lately (excuse me, I mean “YOUR money lately”). While I don’t recommend immersing yourself in debt, there are legitimate reasons for needing a loan – debt consolidation, student loans, business ventures, etc. So, if you’ve got good reasons and are having trouble getting a loan then consider peer to peer lending. It is increasingly viewed as a godsend by those who really need a low interest loan for legitimate reasons.  People are embracing the idea of borrowing money from ordinary people that are just like themselves. And what’s more, there are plenty of people ready and willing to lend their money. With equity markets in turmoil, more and more investors are turning to peer to peer lending as an alternative investment avenue and since everyone hates banks, it’s a win win situation! So, because person to person lending cuts out the middleman (the bank), two things happen: interest rates for the creditworthy borrower are lowered and the likelihood of getting accepted for a loan is raised. When the lenders are regular people just like you, they are much more likely to be sympathetic to your plight.
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How Peer to Peer Lending Works
A relatively new money lending phenomenon has been growing over the past few years. P2P, or peer to peer lending, is a great resource for those wanting to borrow money at competitive rates or for those wanting to invest their money for a decent rate of return. With the economic climate so bleak lately, many of you might be wondering where to invest your money for a decent rate of return. If so, P2P lending is definitely worth consideration. It isn’t risk-free, nothing is, but if you carefully choose borrowers with good credit scores then it is safe to say you can easily expect a 7 to 9 percent return, which beats recent stock market performance and definitely surpasses CD and bond rates. I’ve made a hefty 18% return from my lending portfolio over the past 2 years. However, I do lend to less creditworthy borrowers, which allows me to demand higher interest rates.
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