What are Peer-to-Peer Lending Clubs?
Quite simply peer-to-peer lending clubs facilitate arranging personal loans to people needing to borrow money without going to the High Street banks or finance houses. This does not mean that they are loan sharks or rogue traders in any way; and the best and most reputable of the p2p lending clubs will be registered with the US Securities and Exchange Commission (SEC). Using Web 2.0 technologies social lending clubs connect people looking to borrow money with people who are prepared to lend money as personal and unsecured loans. You can find social lending clubs on the internet simply by searching for terms like people to people loans, person to person loans, peer to peer loans or even something as brief as p2p lend – This might, at first glance, seem to be quite a risk, apparently lending money to someone else that you don’t know over the internet. In actual fact people to people lending through one of the top peer-to-peer lending clubs is no more risky than if you were making an inve
