Peer to Peer (P2P) Loans are a rapidly growing trend where individuals lend money to each other. Lenders (sometimes called investors) are attracted to P2P loans because they hope to earn a higher rate of return than other investments pay and many like they feeling that they are helping out other people at the same time. Boworrers like P2P loans because it offers them a way to borrow funds more cheaply than other sources, or because they may not have access to other sources of funds. Loans are typically used for debt consolidation, education expenses or for a small business. Additionally, sometimes, friends and families use P2P loans so that a neutral third-party will manage the transaction and keep emotions low. Collectively, this is all called Social Lending. Learn more about Social Lending here.
Social Lending Network is our new site dedicated to news and information about P2P Loans. Though the site obviously has a financial and business slant, it is targeted to consumers. Specifically, we are eager to attract borrowers and lenders who are new to social lending.
Some of the leading P2P loan sites in the United States that we will cover include:
- Virgin Money
- Lending ClubNote that Social Lending is larger and more established outside of the U.S., but we will only be covering the U.S. market initially.
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