endingclub.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
- What the collapse of the Ming Dynasty can tell us about American decline
- Colorado’s new ‘drive high, get a DUI’ commercials are actually pretty clever
- Here's proof that Justin Bieber is just as spoiled as you always thought
- Why is American internet so slow?
- 7 ways to be the most interesting person in any room
- Ukraine's fraught relationship with Russia: A brief history
- What would a U.S.-Russia war look like?
- The GOP must try to win over African-Americans
- 10 things you need to know today: March 10, 2014
- Who are the real gay marriage bigots?
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