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    Quote Originally Posted by caparica007 View Post
    OK, so basically relatively small amounts are involved and some screening is made so the risk is reduced and the profits cover it, nicely done. I wonder why the banks can't do the same...
    Banks do the same. These people getting peer to peer loans are those who didn't make it past the bank's screening process.
    Banks are loaning their own money whereas p2p loaning services are just providing a service for investors to loan their money, so naturally these companies are not as worried about defaults as banks are.


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    Quote Originally Posted by caparica007 View Post
    screening is made so the risk is reduced and the profits cover it
    Indeed, the handful of companies I'm researching indeed have credit checks done on all borrowers. Their rates are at least partially based upon that. If there wasn't any kind of check done, that would be a mess.


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    Last edited by SteakTartare; 03-21-2014 at 08:49 AM.
    "The business of America is business."—Calvin Coolidge
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    Quote Originally Posted by SteakTartare View Post
    Indeed, the handful of companies I'm researching indeed have credit checks done on all borrowers. Their rates are at least partially based upon that. If there wasn't any kind of check done, that would be a mess.
    Which companies are you looking at specifically?


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    If you listen to Lending Clubs' video they say 100% of investors who have invested in 800 or more borrowers have gained 100% positive returns regardless of the timing or strategy of their investment. This is fascinating to me and I am personally earning 23.7% through the club I invest with that purchases these lending notes through Lending Club.

    I can't say the same for Prosper or any other platform that does this but Lending Club consistently pays out investors who know what they're doing and also have the capital to invest in 800 or more borrowers. $25 x 800 = $20,000. If you don't have $20,000 minimum to invest with Lending Club it's fair to say you may not see it as a great potential to invest with.


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    Peer-to-peer lending will be the practice connected with lending cash to unrelated individuals as well as peers, without under-going a regular financial intermediary for example a bank as well as other regular traditional lender.


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    I have a client to created a business lending to high risk businesses. Because it is business to business lending, state usury laws generally don't apply so he charges very high rates, up to 72%. He electronically takes payments from the customer bank accounts on a daily basis. He has a very high default rate, up to half his loans are behind in payments or not paying at all.

    So the interest rate he charges is misleading because he looses so much money on defaults. He generally makes money, but not as much as you would think based on the rates. I my opinion ... not a good business to be in. You are like a vulture trying to make lots of money off of failing business, mostly hoping they pay you most of what they owe you before they go out of business.


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    Commonly we attain confused when we finally hear the exact terms website development service in addition to internet developer getting used interchangeably. But thoughts is broken done looking over this, all your individual confusions may perhaps disappear. Poof!
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    One of my cousin has invested in p2p lending in a good company and he was impressed with the returns that he received. It is very important that the company is good when it comes to doing a thorough check of the user whether he will be able to pay or not. Also a regular followup from the company is important and frequent visits to the person's place will also help.


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