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How To Get (or Give) A P2P Loan For Real Estate, Business, or Personal Use
How To Get (or Give) A P2P Loan For Real Estate, Business, or Personal Use

How To Get (or Give) A P2P Loan For Real Estate, Business, or Personal Use

3 minutes, 24 seconds Read

P2P (PERSON-TO-PERSON OR PEER-TO-PEER) LENDING is an alternative form of lending that happens directly between individuals (“peers”) without going through a bank or other traditional financial institution.

P2P loans have several advantages, which we will highlight in this article.

Although P2P loans needn’t involve a middleman (that’s why they’re called “person-to-person”), loan brokers and consultants can earn commissions helping borrowers obtain such loans.

P2P LOANS ARE BECOMING MORE AND MORE POPULAR, and have given rise to brokers and servicers called “peer-to-peer lending companies.” P2P loans are a bright spot on the lending horizon for many people, for reasons, such as:

  • If you’re a borrower seeking a loan for business or real estate, you may be able to get a P2P loan when other types of funding are out of reach.
  • Because P2P lending is done mainly over the Internet, firms that cater to P2P borrowers have fewer expenses and can more easily make loans to people with less-than-perfect credit.
  • P2P loans often have lower interest rates.
  • Additionally, P2P loans offer quick access to funding. Borrowers can often get their money within a couple of weeks, sometimes less.

If you’re a loan broker or consultant, you can make money helping borrowers get P2P loans from individual lenders or investors.

If you’re someone who has cash to lend, you can make money (as much as 7% to 14%) providing P2P loans to friends, colleagues, and people with promising business or real estate projects. Please note that this comes with some risk, since borrowers can default on a P2P loan just as they can on other types of loans. However, most firms and websites that facilitate the P2P loan process provide ample “due diligence” details about each P2P project in order to help investors choose wisely as to which projects they wish to invest in.


Loans and Financing Books and Kits . . .


P2P LOANS HAVE SOME ATTRACTIVE FEATURES for borrowers.

For example:

  • P2P loans are like personal loans — they have a wide range of potential uses.
  • P2P loans are typically unsecured, so the borrower doesn’t have to come up with collateral to get the loan.
  • P2P loans have lower interest rates and fewer fees than loans frrom banks and other lenders.
  • P2P loans are easier to qualify for. For instance, the borrower is not always required to have their income or credit history checked.

WHEN BANK LOANS ARE HARD TO GET, a P2P loan may be just what a borrower needs. Similar to “crowdfunding” where members of the public band together to fund a deal, P2P lending is growing in popularity and becoming easier because of the Internet. Like crowdfunders, P2P lenders are sometimes called “platforms” and may operate from a website.

BECAUSE TODAY’S P2P LENDING IS STILL RELATIVELY NEW, brokers, borrowers and investors should read up on the rules and laws about P2P loans before getting involved. Contact a qualified attorney or state financial agency for additional help and information.

BELOW ARE SEVERAL POPULAR COMPANIES that do P2P lending and/or crowdfunding. Some of these firms are located outside the United States.

P2P LENDING COMPANIES

PROSPER FUNDING LLC

101 Second Street, 15th Floor
San Francisco, CA 94105
Tel: 866-615-6319
prosper.com

ZOPA LTD.

6th Floor
90 Fetter Lane
London
EC4A 1EN
United Kingdom
Tel: 0207 580 6060
zopa.com

40BILLION

Atlanta, GA 30274
Tel: 770-280-5646
40billion.com

LENDINGCLUB

71 Stevenson, Suite 300
San Francisco, CA 94105
Tel: 888-596-3157
lendingclub.com

LENDKEY

104 W. 27th St.
4th Floor
New York, NY
Tel: 800-881-8985
lendkey.com

GREENNOTE

10640 Mather Blvd, Suite 100
Mather, CA 95655
Tel: 866-711-5620
greennote.com

VIRGIN MONEY

Jubilee House
Gosforth
Newcastle upon Tyne
NE3 4PL
United Kingdom
Tel: 0845 602 2106
virginmoney.com

FUNDING CIRCLE

3 Dorset Rise,
London, EC4Y 8EN
United Kingdom
Tel: 0207 401 9111
fundingcircle.com

PEERFORM

369 Lexington Ave,
New York, NY 10017
Tel: 800-338-8049
peerform.com

ASSETZ CAPITAL

23 Berkeley Square,
London, W1J 6HE
United Kingdom
Tel: 0207 870 1023
assetzcapital.co.uk

AUXMONEY

Germany
Tel: +49 211 542 432 22
auxmoney.com

FUNDINGKNIGHT

International House
Southampton Int’l Business Park
George Curl Way
Southampton
SO18 2RZ
United Kingdom
fundingknight.com

THINCATS

The Dovecote, Pimlico Farm, Austrey Lane, No Mans Heath, Tamworth. B79 0PF
United Kingdom
Tel: 01827 830864
thincats.com


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