Peer to peer lending (p2p lending or social lending) describes a new financing model that occurs directly between individual borrowers and lenders. Through p2p websites, lenders and borrowers are able to facilitate loans without the need for a financial institution to act as an intermediary. To date, more than $500,000,000.00 in loan orignations have been reported by peer lending websites.
P2P lending has grown in popularity and is quickly becoming a mainstream tool to borrow and lend money. The leaders in the industry include companies such as LendingClub, Prosper, Virgin Money, and Zopa. On this page you’ll find links to the latest news and analysis for the social lending industry. I am also an investor in loans with LendingClub and Prosper, and regularly share my lending experiences here.
To get started, here are some articles and tools you may find helpful as you explore the peer to peer lending option as a borrower, lender, or even both: