Borrowing: an alternative to dealing with the banks

Peer to Peer Lending Provides Nice Alternative to Banks

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If your looking to borrow money, these clubs provide an alternative to dealing with the banks. Its a neccessary alternative to have out there, as in these hard times even people with good credit are being denied loans by the banks.

All in all, I think its a pretty good system. As long as both sides realize what their getting into. If both sides are straightforward and honest, then both sides win. There really is no way for the borrower to lose out, as they know the terms they are getting into beforehand and all the money is secure. For lenders, its an investment that carries inherent risk. The payout comes with the risk. I think the tip to be diversified is key when it comes to the lending aspect.

I say thumbs up to peer to peer lending.

Comment: Worthwhile read