Lendingclub.com is a “person-to-person” lending site, promising better rates than those found at a bank. Borrowers set up profiles, share their stories, and obtain loans from willing individuals at a rate calculated by the site.
Prosper.com is similar to Lending Club, but sets interest rates differently. Borrowers choose a maximum rate, which lenders then “bid down” in an auction. Currently in a “quiet period” required for SEC approval.
Virginmoneyus.com manages loans, but doesn’t pair up borrowers and lenders. Rather, it’s a “resource” for friends and family members who are looking to lend money to one another but are unfamiliar with the formalities and paperwork.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- 43 TV shows to watch in 2014
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- Why the Chinese military is only a paper dragon
- How our botched understanding of 'science' ruins everything
- Libertarianism's terrible, horrible, no good, very bad idea
- 6 things the happiest families all have in common
- Christian conservatives have a terrifying new bogeyman: The Christian leftist
- Confronting our twisted relationship with food
- How ancient DNA is rewriting human history
- Eric Holder blew it as attorney general. His replacement will, too,
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