Peer to Peer Loans - Social Lending
Peer to Peer Lending Overview
Peer to peer lending allows you to skip the bank and borrow from individuals. You can borrow from complete strangers or just use peer to peer lending services to structure loans between friends and family. This page covers how peer to peer lending works, the major services, and how you can take advantage of it.
Borrowers sometimes find that a family loan is the best option. What does it take to set up a family loan properly? You have to consider financial and personal topics to make sure the loan does not become a nightmare.
7 Sins of Family Loans
Family loans can be a great way to help a member of the family. They can create win-win situations, or they can ruin relationships. Review the most common family loan pitfalls so you know what to avoid.
Lending Club is a peer to peer lending service. Instead of borrowing money from a bank, you borrow from individuals that you connect with at the Lending Club Website. This page explains how Lending Club works.
Virgin Money Overview
Virgin Money is a person to person lending service that allows you to structure formal loans with people you know. Through person to person lending, you skip the bank and borrow from an individual (or group of individuals). This page is an overview of Circle Lending and the various person to person lending options there.
Prosper.com is a social lending site. Instead of borrowing from a bank, you can borrow money from other individuals. One or more people may offer to loan you money, and they may even compete with each other to get you a better rate. This page covers the basics of Prosper.com, and gives you resources for more information.
Family Mortgage - Virgin Money
If you use a family mortgage, do it right. One way to make everything official and protect everybody is to use a service for loan agreements, servicing, and legal filings. Virgin Money’s family mortgage product does those things for you. Let’s take a closer look at how their family mortgage works.
Family Loan Tips and Success Stories - How We Used a Family Loan
A family loan can help you or somebody in your family save money. When done correctly, everybody wins. Find out how to use a family loan from other readers who've been there before you. Share your story about a successful family loan.
Private Party Loans
Private party loans are loans between individuals. Instead of using a bank or finance company, you agree on loan terms and work together. Some private party loans are a great deal for all involved, with better terms than the bank offers. Sometimes, private party loans are the only option for borrowers with bad credit.
GreenNote - Overview of GreenNote Peer to Peer Lending
GreenNote is a peer-to-peer lending service students can use to raise funds for education. Students tap their network of friends, family, and others.
Family Loans Gone Bad - How Family Loans Became Nightmares
Family loans can be a dream come true or a nightmare. When mistakes happen or communication is not sufficient, family loans are not worth the money. See where others have gone wrong with family loans and share your story.
10 Tips for Prosper.com Borrowers
Getting a loan at Prosper.com involves more than just asking for one. In order to get money (and get it at a reasonable rate) you have to create a good listing. This page covers the essentials of creating a loan listing at Prosper.com.
Lending Club CEO Interview
In June 2009 I spoke with Renaud Laplanche about Lending Club. We talked about how the peer to peer lending service works, and what to expect going forward. A summary of key takeaways from the interview with Renaud Laplanche are below.
Definition of microlending. The practice of granting small loans to those in need.
Kiva.org - How Kiva.org Does Microloans
Kiva.org is a microlending site making it easy for lenders to make small loans and track them. Kiva.org is a 501c3 non-profit public benefit corporation. Loans as small as $25 go to very small businesses in the developing world.
Person to Person Loans - Definition - Using Person to Person Loans
Person to person loans are loans between individuals. This page explains what a person to person loan is, and gives you resources to get started.
Family Financing Basics
The thought of family financing is common when you or one of your relatives needs money. While it may be a great choice, don’t move forward with a family financing deal until you understand how to do it right. Let’s review how family financing is used and what to watch out for.
Virgin Money Basic Family Mortgage
The Basic package handles the toughest legal requirements of a family mortgage. You may feel comfortable with the logistics of payments, but you might not be qualified to draft a loan agreement. Find out about the Basic Family Mortgage program.
Virgin Money Family Mortgage
The Full Servicing package does everything the Basic package does, as well as handling servicing. Learn the basics of Virgin Money's fully-serviced family mortgage program.
Virgin Money Family Mortgage Full Closing Program
The Full Closing package offers everything the Full Servicing package does, along with closing help. The full closing product only makes sense if you're transferring ownership of a property. Find out how it works.