Looking for a loan? Try P2P

September 28, 2008

Saddled by student loans and credit card debt, Ryan Little was looking for relief. Like many, the 30-year-old insurance agent turned towards banks for a loan but he ended up finding a much better deal elsewhere, on the Internet, through a website called Lending Club (lendingclub.com).

---

Content from AFP expires 1 month after original publication date. For more information about AFP, please visit www.afp.com .

---

Similar stories from PHYSorg:

Mortgage crisis: Blame the bank?

Aug 27, 2008 | 4.4 / 5 (5) | 1

Economist says renewed financial crisis looms unless government acts

Jan 23, 2009 | 4 / 5 (1) | 3

Rice U study finds that consumers may fare better with peer-to-peer online lending Web sites

Jun 19, 2008 | 4.1 / 5 (7) | 0

Full extent of financial crisis still not known, Purdue expert says

Oct 09, 2008 | 4.6 / 5 (5) | 0

New research shows that your looks, creditworthiness may go hand in hand

Mar 12, 2009 | 3 / 5 (4) | 3

• msean - Sep 28, 2008
  • Rank: not rated yet
  I don't know how he's getting a loan from Lending Club. They're not accepting new borrowers or lenders.
  • report abuse
  • • Current rank
    • 1
    • 2
    • 3
    • 4
    • 5
• P2P_Loans - Sep 29, 2008
  • Rank: not rated yet
  LendingClub is accepting new borrowers, however they are NOT accepting new lenders at this time. They have had to file with the SEC and they are still in an SEC mandated quiet period. While they are not able to allow lenders to bid on loans, they appear to still be funding loans out of their own working capital.
  
  More info here:
  
  http://www.peer-l...orarily/
  • report abuse
  • • Current rank
    • 1
    • 2
    • 3
    • 4
    • 5