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Just because credit has dried up and the banks aren’t lending doesn’t mean there is no way to get a loan. Here are some peer-to-peer lending websites that can be a great source for lower interest rate loans:

  1. Prosper Marketplace – America’s first P2P lending website. Lenders can bid on loan interest rates and can invest as little as $50 in each loan. Borrowers can borrower up to $25,000 for a loan term of 3 years.
  2. Lending Club – Lenders and borrowers are matched through social connections. As with Prosper, the loans are for 3 year terms. Lending Club is not as helpful for those with poorer credit.
  3. Fynanz – A P2P lending platform designed exclusively for student loans. Depending on the grade of the loan, lenders can actually receive loan guarantees from Fynanz.
  4. Zopa – Offers guaranteed CDs to lenders and loans to borrowers. It is basically an online credit union.
  5. VirginMoney – Not exactly social lending, but helps you create the appropriate loan docs in order to lend to/borrow from a friend or family member. VirginMoney will also act as loan servicer if you need them to.


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