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Thanks for sharing! Peer-to-Peer lending is a cool idea. If you'd be interested in advertising your company on my site, please feel free to shoot me an email at the address below.

Thanks for the support!! :)

MoneyIsTheRoot said:

I know many states (including my own) don't allow peer-to-peer lending, do you offer a platform to buy the notes on the secondary market?

We unfortunately do not at the moment, but are working on it.

Thank you for your interest!

Financial Success for Young Adults said:

Hi P2PNoob! Welcome!

What are your thoughts on peer to peer lending defaults? Have they increased with the recession?

Hi LaTisha!

Thanks! your interest in Peer-to-peer lending!

Peer-to-peer lending defaults, at least on the two platforms with a history so far, are almost unavoidable if you funded over 200 loans, but can be kept to a minimum – usually only a few. Furthermore, the rate of return on Peer-to-peer loans usually more than compensates the risk, so you get a great return on investment even with a few defaults. 

In terms of defaults over time, Peer-to-peer lending companies change their borrower policies almost every year, improving requirements for borrowers, increasing borrower verification, and definitely making fraud much harder. Therefore, the data on loan defaults cannot accurately measure the default rate of the same exact borrower pool over time.

So although we would expect the defaults to increase with bad economic times, they haven't – because policies keep evolving to protect investors. In fact, Peerform is taking steps to verify the financial and credit information of every borrower to reduce default wherever we can.

I hope this answers your question!

Hey! Thanks Rob :)

Welcome to you too!