Peer to Peer Lending & P2P Loans
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Peer to Peer Lending (P2P Lending) is a new way to borrow money online directly from people. Borrowers have the chance to receive interest rates that are more favorable than they might otherwise get from their traditional lending institution or credit card company - and lenders can potentially make more than they normally would by keeping their funds in a traditional investment, by receiving higher rates of interest, directly from the borrowers they choose themselves. Online Social Lending allows you to support people you believe in - while making a good return! |
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Peer to Peer Lending & Peer to Peer Loans Comparison Chart:
| P2P Lending Sites: | | |
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| Peer to Peer (P2P) Loan Types: | |||
| Personal Loans |  |
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Inactive |
| Business Loans | |
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Inactive |
| Student Loans | |
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Inactive |
| Peer to Peer (P2P) Loan Amounts: | |||
| Personal Loan Maximums | $25,000 | $25,000 | ? |
| Business Loan Maximums | $25,000 | $25,000 | ? |
| Student Loan Maximums | $25,000 | $25,000 | ? |
| P2P Credit Qualifications: | |||
| Minimum Credit Score | 640 | 660 | ? |
| Maximum Debt-to-Income Ratio | None | None | ? |
| Rates & Terms for P2P Loans: | |||
| Borrower Interest Rates | 7.37 - 19.36% | 8.90 - 17.90% | ? |
| Borrower Loan Term | 3 Years | 3 Years | ? |
| Secondary Market for P2P Lenders: | |||
| P2P Loan Buying | |
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| P2P Loan Selling | |
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| P2P Loan Trading Fee | 1.00% | |
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| Peer to Peer (P2P) Loan Fees: | |||
| Origination Fee (Added to Loan Amount) | 0.75 - 3.00% | 1.00% - 2.00% | ? |
| Failed Payment Fees | $15 | $15 | ? |
| Late Payment Fees | $15 or 5% of payment | $15 | ? |
| Early Payment Penalties | None | None | ? |
| Peer to Peer (P2P) Lending Fees: | |||
| Payment Servicing Fee (Charged to P2P Lenders Only) | 1.00% of payments | None | ? |
| Financial Regulatory Status | |||
| SEC Approved Investment | |
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PENDING |
| IRA Accounts for Tax Free Investment | |
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| Peer to Peer Lending & Peer to Peer Loans: | Lending Club | |
Pertuity Direct | |
Prosper (Inactive) | |
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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 3/31/09. Rates & fees are variable, in some instances, and are not APR calculations. Please consult your Peer to Peer Loan provider for further information.
