New sites arrange loans between individuals.
Circlelending.com, recently rebranded as Virgin Money, “facilitates loans between people who already trust each other.” Parents, for instance, can nail down precise terms with their children for a car loan. “For $99, CircleLending issues a legally binding promissory note and a repayment schedule.”
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Lendingclub.com, in partnership with Facebook.com, links borrowers with lenders who share similar interests, alma maters, or other traits. “Group loyalty will ensure that borrowers will repay the money.” Anyway, that’s the idea. Source: The Boston Globe
-
How will the new Repayment Assistance Plan for student loans work?the explainer The Repayment Assistance Plan (RAP) will replace existing income-driven repayment plans
-
In the Spotlight Venezuelan President Nicolás Maduro has been at odds with US forces
-
Music reviews: Ethel Cain, Amaarae, and The Black KeysFeature "Willoughby Tucker, I'll Always Love You," "Black Star," and "No Rain, No Flowers"
