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Is a Peer-to-Peer Loan Right for You?
Business owners seeking cash from peer-to-peer lenders need to consider the risks first.
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Janie Posted: 11:20 AM On September 15, 2008
There are also specialized peer-to-peer finance networks for business entrepreneurs (e.g. 40billion.com at http://www.40billion.com) and college students (e.g. SchoolRaise at http://www.schoolraise.com) to raise money through friends, family and other people who may be able to help provide funding.
JJVT Posted: 11:31 AM On May 29, 2008
Bob Drake you are an idiot. Are you basicly saying no one should ever lend money to someone else, unless its intrest free?
JJVT Posted: 11:26 AM On May 29, 2008
Bob Drake you are an idiot. Are you basicly saying no one should ever lend money to someone else, unless its intrest free?
Nobody beats the Wiz Posted: 10:12 AM On May 29, 2008
I'm not sure I'd call P2P lending a scam. But, I can tell you that the delinquency rate is an issue that most P2P lenders don't think about. It's more of a game in many cases than it is an investment. It's eBay meets lending (especially in the Prosper P2P system). Borrowers have almost no risk, but the lenders have a ton of risk. When you sign up as a lender and put money into their systems you are asked to pre-select the collection agency you want to use if the borrower doens't pay up. Hmmm.

CNN did a pretty good bit on P2P lending. Here's the link...

http://www.cnn.com/video/#/video/living/2008/04/11/aqui.peer.lending.cnn?iref=videosearch
Ideal 4 Investors Posted: 10:01 AM On May 29, 2008
Peer-to-Peer lending sounds like something that should only be used in case of an extreme emergency, when you have exhausted all other sources (sort of like a check cashing place). This is why it's so important to small business owners to learn about and understand their cashflow.

http://idealinvestment.blogspot.com/2008/05/truth-about-peer-to-peer-lending-sites.html
Norm Posted: 8:29 PM On May 28, 2008
If I have money, and willing to loan to you cheaper than your credit card, why is that a scam? You are getting a loan cheaper and I would be getting more than a bank would pay me. To me that is a win win situation.
Bob Drake Posted: 8:04 PM On May 28, 2008
Peer to Peer Loans are a scam. Another sub prime mess enabled by lax lending rules where people with money can prey on those who need it. Loan sharking without the baseball bat thanks to our misguided demand for a regulation free business environment. The organizers need to be in jail, along with the greedy folks who brought down Bear Sterns and the like.
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