Peer to Peer Lending & P2P Loans
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Peer to Peer Lending (P2P Lending) is a new way to lend and borrow money online with others. Borrowers can receive better interest rates and investors can yield better returns on invested funds. Add a new asset class to your portfolio and diversify by investing into pools of qualified borrowers. Engage in Social Lending by supporting just people you believe in, while making healthy returns! |
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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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| Business Loans | |
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| Student Loans | |
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| 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 | 660 (TransUnion) | 640 (Experian) |
| Maximum Debt-to-Income Ratio | < 25% | None |
| Rates & Terms for P2P Loans: | ||
| Borrower Interest Rates | 6.39% – 21.64% | 7.50% – 35.00% |
| Borrower Loan Term | 3 to 5 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% | 1.00% |
| Peer to Peer (P2P) Loan Fees: | ||
| Origination Fee (Added to Loan Amount) | 2.25% – 4.50% | 0.50% – 3.00% |
| 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) | 1.00% of Payments | 1.00% of Principal |
| Financial Regulatory Status | ||
| Notes Registered with the SEC | |
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| Invest via IRA Account (Better Tax Treatment) | |
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| Peer to Peer Lending & Peer to Peer Loans: | Lending Club | |
Prosper Marketplace | |
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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 5/12/10. Rates & fees are variable and are not APR calculations. Please consult your Peer to Peer Loan provider for further information.
