Comments on: Prosperity of Person-2-Person Lending in Jeopardy

By: Rob

Rob — Sat, 08 Nov 2008 01:10:00 +0000

Agree with Colin.

Lending Club is the first and only p2p lending site that has gone through the registration process with the Securities and Exchange Commission, and is now open to both Borrowers and Lenders.

Being registered with the SEC adds a level of legitimacy and safety to Lending Club that no other P2P lending platform can offer, and it ought to be seen as a very positive step forward for this industry, not as a sign of trouble.

Rob G from Lending Club

By: Colin Henderson

Colin Henderson — Wed, 05 Nov 2008 18:28:58 +0000

I found the NYT article a little confusing by mixing company specific issues such as Prospers credit methodologies or Zopa’s Credit Union issues, along with the regulation of the industry.

My take would be that the regulation ought to be welcomed in the sense that it legitimizes the space, and offers the credibility to participants as borrowers or lenders.

By: Cindy

Cindy — Wed, 05 Nov 2008 18:09:46 +0000

Thanks Craig – I agree, there are mixed reports out there and like the stock and real estate market, I hope it rallies soon. I have not tried it on “either side” but I think Kristy has experimented a little. Maybe she’ll share anything of relevance when she returns from vacation!!

By: Craig

Craig — Wed, 05 Nov 2008 04:10:15 +0000

I heard about peer to peer lending this morning on NPR radio, and I could not contain my happiness to know this concept existed. What a great idea!

I went looking for more information and found the NYT article you reference, but I also found many other ones that are more positive.

I just signed up, and will start lending soon. Have you tried it? what is your experience?