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.
|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)|
|Select a Peer to Peer Lending & Peer to Peer Loan Provider:|
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:|
|Debt Consolidation Loans|
|Credit Card Consolidation Loans|
|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|
|Transaction Fee (Per Note) for Trading via FolioFN||1.00% of Sale Price||1.00% of Sale Price|
|Peer to Peer Lending & Peer to Peer Loans:|
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.