Peer to Peer Lending & P2P Loans
| Peer to Peer Lending (P2P Lending) is a new way to lend and borrow money online with others.
Think “I got a loan, online” (for borrowers) and “I just became a banker” (for lenders) – and…. you begin to see.
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New Investors: You can now open a self-directed IRA and get favorable tax treatment! Details after initial signup.
New Borrowers: Check your loan rate with a single click just by joining as a member. Your credit score is not hurt! |
Peer to Peer Lending & Peer to Peer Loans Comparison Chart:
| P2P Lending Sites: | ||
| Peer to Peer (P2P) Loan Types: | ||
| Personal Loans | $1,000 to $35,000 | $2,000 to $25,000 |
| Debt Consolidation Loans | Up to $35,000 | Up to $25,000 |
| Credit Card Consolidation Loans | Up to $35,000 | Up to $25,000 |
| Interest Rates & Terms for P2P Loans: | ||
| Loan Interest Rates (Fixed Rates) | 6.78% to 27.99% ¹ | 5.65% to 35.64% |
| Available Loan Terms (Fixed Terms) | 3 or 5 Years ¹ | 1, 3, or 5 Years |
| Penalties for Early Repayment of Loan | (Charged to Investors, via Servicing Fee) | None |
| Loan Origination Fee (Deducted from Loan Amount) | 2.00% to 5.00% | 0.50% to 4.50% |
| P2P Borrower Eligibility Requirements: | ||
| Minimum Credit Score to Get a Loan | 660 (TransUnion) | 640 (Experian) |
| States Where P2P Loans Are Available to Borrowers | 42 States (Except: IA, ID, IN, ME, MS, ND, NE, TN) | 47 States (Except: IA, ME, ND) |
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| Select a Peer to Peer Lending & Peer to Peer Loan Provider: | ||
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Peer to Peer Lending Marketplace Information for Investors:
| Peer to Peer Market Platform Statistics: | ||
| Total Dollar Volume of Loans Funded per Market | $1,177,000,000 | $447,000,000 |
| Total Number of Loans Funded to Date per Market | 95,902 | 61,626 |
| Total Number of Individual & Institutional Participants per Market | Not Disclosed | 1,610,000+ Accounts |
| Cumulative Note Return Performance per Market for 2009 Vintage | 5.10% * | 8.60% * |
| Types of Loans Available for Investment: | ||
| Personal Loans |
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| Debt Consolidation Loans |
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| Credit Card Consolidation Loans |
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| Peer to Peer (P2P) Loan Investment Fees: | ||
| Loan Payment Servicing Fee (Charged to Investors) | 1% of Every Payment (Including Interest) | 1% of Outstanding Principal Balance Only (Annually) |
| P2P Investing Eligibility Requirements & Account Types | ||
| States Where P2P Lending Is Approved (Per Platform) | CA, CO, CT, DE, FL, GA, HI, ID, IL, KY, LA, ME, MN, MO, MS, MT, NH, NV, NY, RI, SC, SD, UT, VA, WA, WI, WV, WY | AK, CA, CO, CT, DE, FL, GA, HI, ID, IL, LA, ME, MN, MO, MS, MT, NH, NV, NY, OR, RI, SC, SD, UT, VA, WA, WI, WY |
| Secondary Trading Market for P2P Investments: | ||
| P2P Loan Trading on FolioFN Transaction Platform |
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| Transaction Fee (Per Note) for Trading via FolioFN | 1.00% of Sale Price | 1.00% of Sale Price |
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| Peer to Peer Lending & Peer to Peer Loans: | ||
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The information contained in this chart comes from the websites of the P2P Lending providers listed and is current as of 1/1/13. Rates & fees are variable and are not APR calculations. Please consult your Peer to Peer Loan provider for further information. * Cumulative return percentages in this chart are pulled from statistics and public data provided by both markets allowing the performance of a methodologically transparent return calculation. Cumulative return percentages listed are not an implicit or explicit guarantee of investor performance. Peer-Lend.com explicitly does have a financial relationship with both Prosper and LendingClub and may receive revenue when visitors to this site complete certain actions, such as opening an account. Peer-Lend.com derives zero revenue from the purchase or sale of loans and/or notes which may be offered by prospectus through either the Prosper or LendingClub platforms and has no equity interest in and owns no stock issued by either entity.
