Lending Club & Prosper Review
Peer To Peer Lending Review by Super Kate

Need a debt consolidation loan? Try peer to peer lending at Lending Club or Prosper. By the time you finish my review, you will be amazed and stunned by the connection between personal loans and investors.

There is an alternative to borrowing from a bank. It's called peer to peer lending. It's an age old concept whose time may have finally come because peer lending is about people helping people.

Borrowers have been hurt by the credit crisis. Perhaps you are one of them.

Investors have had their returns devastated. Grandparents, aunts and uncles, and disabled have all been hurt by the low returns.

Some of my relatives depend on dividend income to live, pay their mortgage, and buy food. Those returns have disappeared.

Peer To Peer Lending Helps Investors And Borrowers

Imagine if there was a way to help borrowers who need loans and investors who need a return on their investment.

What if both borrowers and investors could be brought together outside conventional banks and yet still be safely under the umbrella of the SEC (Securities and Exchange Commission)?

But before we enter into a new venture we all want proof, don't we? (That's a YES!) I don't advise beginning any financial matters without investigating.

So after you are done reading my review, be sure to investigate actual loans taking place and read testimonies made public by peer to peer lending companies, for example, Lending Club or Prosper.

Loan Consolidation And Personal Loans

Have interest rates on your credit cards jumped lately? A lot of people say theirs have. Or have you tried to get home improvement money or been turned down for loan consolidation lately? It's almost impossible isn't it?

Or is it?

I've read how an accountant got a loan for her daughter at Lending Club. The daughter was able to pay off all her credit cards after the interest rates jumped. By lowering her payments, her financial life was literally saved. She'll be able to pay off her cards in a short period and be debt free.

What type of personal loans can you do at Prosper and Lending Club? Here is a short list...

1. Unsecured Loan. Save thousands, pay off your high interest debt with a low, fixed rate loan.
2. Credit Card Payment and Debt Consolidation
3. Car Loans
4. Other Vehicle Loans
5. Home Improvement Loans No Equity Needed. Up to $25,000. Fixed Rates. Low Payment. Instant App.
6. Business Loans

What about loans for special events like Wedding Loans, Loans for Memorable Events, or even Loans for your Block Party? It seems there are investors who will make all types of personal loans at great rates.

Peer To Peer Lending Brings Opportunity

Now I am not going to go into how a peer to peer lending company like Prosper or Lending Club processes these loans but I am going to say they make it sound pretty simple. They explain the 3 step process in very simple terms for both borrowers and investors.

So in that light, have you had extra medical expenses lately? We all know accidents and other medical situations happen unexpectedly. Insurance only covers so much, doesn't it? At some time in your life, you have probably discovered that. There are Medical Expense Loans.

Maybe you need a loan for Elective Surgery. Is your insurance going to pay for it? The insurance company's definition of elective is often different from yours. Again, peer to peer lending offers Medical Expense Loans.

Then there are times when you just need to get away from it all. Everyone needs a little R & R sometime, right? So instead of borrowing $3000 on your high interest rate credit cards, you might want to try peer to peer lending at one of the P2P companies like Lending Club or Prosper, at a much lower rate.

There are also Loans for Campers, Loans for ATV's, Loans for Motorbikes, or Loans for Jet Skis.

Having a baby is one of the biggest joys in life, but a very expensive one too. So whether you are giving birth or adopting, a loan at the right rate could soften that financial blow.

Peer To Peer Lending Wrap Up

Before I wrap this up, it is important to recognize that we are all concerned with privacy and security. You should always determine if your personal information and identity are protected to your satisfaction.

I want you to read the privacy policies of peer to peer lending companies. Make sure they meet your standards, whether you are a borrower or investor.

I would also advise you to read the About Page so that you see how long the companies have been in business and the actual people behind the company.

Give it some thought. If peer to peer lending seems right for you, apply for a loan at Prosper Marketplace.

In addition, you can also find out how to invest money in a No Fee IRA at Lending Club.

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