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Finextra: market commentary - Credit crunch winners
Giles Andrews, co-founder and managing director of Zopa, spoke to Finextra about how the banking crisis is encouraging more people to turn to social lending, why Zopa's US expansion didn't work out, launching in Italy and Japan, and whether P2P lending firms can benefit from integrating with other online social media.
Prosper Marketplace, Inc. – www.BackgroundNow.com Blog
November 24, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making Findings and Imposing a Cease and Desist Order (Order) against Prosper Marketplace, Inc. (Prosper).
FT.com / Your money / Serious money - Matthew Vincent: Mind over matter
Then a new cash deposit auction website, which will offer private investors’ cash to six bidding banks from October, told me it hoped to achieve rates of up to 7 per cent on term deposits of just 30-90 days.
LendingClub Discloses Changes to How It Sets Interest Rates
The big news, at least for borrowers and lenders, is LendingClub’s disclosure of a new way to calculate interest rates. Recall that Prosper and LendingClub set rates differently. Prosper’s rates are based entirely on an auction style bidding process similar to EBay. In contrast, LendingClub sets interest rates itself based on certain credit criteria of the borrower.
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The big news, at least for borrowers and lenders, is LendingClub’s disclosure of a new way to calculate interest rates. Recall that Prosper and LendingClub set rates differently. Prosper’s rates are based entirely on an auction style bidding process similar to EBay. In contrast, LendingClub sets interest rates itself based on certain credit criteria of the borrower.
Innovation and Transformation Wings: Social Lending: A New Form of Disruptive Innovation in Financial Services
Social Capital and Lending is not New
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‘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).
Web sparks person-to-person lending around the world | csmonitor.com
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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.
S1 Lending Club
Form S-1
Lending Club
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Form S-1
REGISTRATION
STATEMENT
UNDER
THE SECURITIES ACT OF
1933
LendingClub
Corporation
Javelin Strategy and Research » Riverside residents recommend social lending Web sites
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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.
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