CARTOONS BY CHRIS BRITT

– PEER-TO-PEER LENDING –
There are lots of websites on the Internet that will tell you that getting a loan is easy. Just
a few bits of information and the money will be on its way. As they say, if it sounds too
good to be true, it probably is.
That said, there are
peer-to-peer lending
resources that are
perfectly legit and can
be a pathway to finding
the capital you need.
Think of it as a hybrid
between a traditional
loan and a Kickstarter
campaign with just a
little eBay thrown in
for good measure.
The process is
simple. Three good
examples are Lending
Give a man a fish and you feed him for a day, teach him to use
the Net and he won’t bother you for weeks.
Club, Prosper and Lending Robot. You can borrow up to $35,000 in unsecured, low
interest loans in most P2P programs. Prosper, which launched in 2006 has generated $ 4
billion in loans to date. Lending Club has generated 11 billion since its launch in 2007.
Lending Robot, a Washington State company and new kid on the block founded in 2012
raised $700,000 in seed funding in 2014 followed by a Series A round of 3 million.
The main benefit is that you can get an unsecured loan with a lower rate than most
bank loan rates with less paperwork. Interest rates can vary greatly, but suffice it to say
that the terms of the loan can make this option attractive for many businesses.
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