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Peer to Peer lending

  • 04-05-2013 5:47pm
    #1
    swanvill
    Registered Users, Registered Users 2 Posts: 276 ✭✭


    Hi,
    Has anyone any experience of invest/ lending using a P2P website ?
    How was it & what site did you use?

    Thanks


Comments

  • #2
    tadcan
    Registered Users, Registered Users 2 Posts: 458 ✭✭tadcan


    I have used Kiva.org to give loans. Each loan still goes through a local micro-finance organisation. No interest is earned , but you can withdraw your funds once they have been repaid. I haven't done this yet.

    The site is simple to use and lets you lend for as little as $25. You get a picture of the person, the purpose of the loan, the repayment schedule, etc. Sometimes people miss a month, but it tends to be made up the next month.

    They also have an experimental site that does give loans directly to the people, again with 0% interest. https://zip.kiva.org/ This is just running in the US and Kenya so far, but there is no loans from Kenya as I write this.

    In the US there is a new law in the works to allow direct loans, so these above sites may allow interest to be earned.


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