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Are You Financially Stressed?

See if you have anything you can sell to pay down your debt or consider refinancing it with a lower interest credit card, a home equity loan, a retirement plan loan, or a loan from a peer-to-peer lending site like Lending Club or Prosper. Just be aware of the downsides of each option. Credit card […]

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Peer2peer lending set to take off as banks keep hold of purse strings

So, 16%, or 768,000, of small companies would consider applying for a peer-to-peer lending scheme (P2P) loan over the next year, says rebuildingsociety, a peer-to-business lending website that connects SME borrowers with lenders looking for better returns than those offered by  savings accounts. The research also showed that 26% of people in the UK (up […]

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Finding Yield In Alternatives

My favorite new income play is “peer to peer” lending, which essentially dis-intermediates banks, and lets savers lend directly to pools of individual borrowers. The companies running these sites (the biggest is LendingClub) do some basic spadework on potential borrowers, checking their credit scores and employment status, and the borrowers explain in their applications why […]

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Google Eyes Alternative Lending Schemes

Lending Club has issued more than $1.65 billion in loans since 2007, including more than $350 million in the last quarter through peer-to-peer lending, which facilitates personal loans to borrowers of up to $35,000 in  three- or five-year terms from qualified retail and institutional  investors. Small businesses have been increasingly using alternative forms  of lending […]

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An angel when a parent’s wallet isn’t around

But he was heartened that Upstart takes a percentage of a person’s income for a decade, which made it more appealing than some peer-to-peer lending sites. “It’s not something that allows people to default and walk away,” he said. “They can’t say I failed once and let me start again. Most of the people I […]

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Seedrs: UK can ‘lead the world’ in crowdfunding

Seedrs: UK can ‘lead the world’ in crowdfunding. Start-ups have a new source of investment thanks to fundraising sites such as Seedrs. The company’s founder , Jeff Lynn, explains why he thinks the UK can be the home of crowd-funding. Crowd-funding could hardly be more of-the-moment: using the web and social media to pitch your […]

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Zoshpit Launches Australian Music Crowdfunding Site

If you follow music crowdfunding news, you know that Australia is a hotbed of such activity. To date, Pozible has taken the lead as a general platform for creative projects. Now Zoshpit has launched to focus on music crowdfunding while developing related services for musicians with the goal of becoming a DIY music platform I […]

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Crowdfunding Campaign Aims To Reward NSA Whistleblower For His ‘Courage’

Edward Snowden is being hailed as a hero by some, and now a Crowdtilt crowdfunding campaign is raising money to reward the whistleblower for his “courage” and pay his bills. The campaign doesn’t specify how the money will be delivered to Snowden, and is raising questions about if donations constitute aiding an enemy of the […]

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South Korea to Legalize Crowd Funding System

South Korea planned to legalize the crowd funding system as part of efforts to help venture companies finance their seed money from a number of small investors with fewer restrictions, the Finance Ministry said Wednesday. Regulations for the crowd funding, including business requirements, investment ceiling and investor protection, will be introduced, the Ministry of Strategy […]

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Peers Find Less Pressure Borrowing From Each Other

The search and tech giant is investing $125 million in Lending Club, which gets borrowers and lenders together outside the conventional banking system. Google’s move and the actions of other big players reflect a growing interest in peer-to-peer lending. Chanda Lugere works for a bank, but when she wanted a loan to consolidate her credit […]

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CommonBond’s David Klein: “Being an Entrepreneur is the Hardest Job You’ll …

CommonBond’s peer-to-peer lending model has received plenty of attention for its novel – and smart – method of helping B-school students actually afford their degrees. With some MBA students graduating with a pile of loans equal to a mortgage, CommonBond’s crowdfunding solution is a welcomed innovation. As an MBA myself, I am glad to see […]

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How to cut the costs of being overdrawn

Peer-to-peer lending involves people lending to other people, cutting out the need for banks to be involved. The aim is that those who are willing to lend get higher returns than in a savings account and borrowers get a cheaper loan. A loan of £5,000 over three years will cost £152.57 a month, or £5,492.51 […]

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