Peer-to-Peer Lending Services
What is peer-to-peer lending? And how can the products below help you do everything from consolidate existing credit card debt at a lower interest rate, to funding a business expense crucial to your company's growth?
It's actually pretty simple. Peer-to-peer lending matches up loan applicants with independent investors willing to lend based on the creditworthiness of the applicant. This allows loan applicants to sidestep traditional banks in their pursuit of an unsecured personal loan. Depending on the credit score of the applicant and their debt-to-income ratio, interest rates can start under 7 percent and go as high as 35.36 percent.This is an excellent way for consumers with existing debt to consolidate and refinance at a much lower rate than the one their currently paying on their credit card, which are often well above 10 percent.
Peer-to-peer lending is also an excellent way for investors to make money, since the interest they yield on investment are higher than that of traditional stocks and bonds. There are of course risks to lending, but the companies we recommend below such as Prosper make the process simple and legitimate.
Follow the links below for more information on how peer-to-peer lending can benefit you.