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Consumer Financial Protection Agency

‘Whereas it has been an Ancient Custom in this Kingdom for Artists to Meet together and unite themselves into Society (But more especially for those who follow any Art or Mystery) to promote Amity and true Christian Charity…’ (Rules of the Second Mechanics Society, Plymouth, 1794 as cited in Gorsky, 1998).

For accredited investors, defined as those who earn more than $200,000 per year or have a net worth in excess of $1 million
(excluding primary residence), the range of options is even wider. One example: Root Capital based in Cambridge, Mass., uses
investors' capital to support sustainable agriculture ventures in Africa and Latin America. The firm boasts a 99.5 percent
repayment rate.

While the sites are not yet grabbing huge chunks of business from traditional banks, Javelin projects that the demand for social lending services to pay off credit card debt could grow from $38 billion in 2007 to $159 billion by 2012.

With the United States’ economy flirting with the word “recession”, people are looking to get out of debt. Banks aren’t always eager to give out loans for things like paying off a credit card, and this situation has given rise to social lending. Some sites let you collect interest as the lender, and some simply give you the opportunity to help someone out. If you’re interested in lending money online, we’ve got five such services for you to look at.