Every Saturday I bring you the latest news from the world of peer to peer lending. These are the best of the news articles and blog posts from around the web that I shared on Twitter this past week.
The flood of p2p lending coverage out of the UK continued this week with a senior Bank of England (the UK equivalent of the Federal Reserve) official jumping into the fray in support of p2p lending – see the Telegraph article below. Many newspapers and blogs picked up on this story and not everyone agreed with the positive assessment. For a counterpoint you should read the BBC News article.
Plenty of other great articles this week and one that was most interesting to me was the Fox Business article on the personal loan market. The size of this market, which excludes credit cards, is just over $25 billion a month. Which means Lending Club and Prosper combined have about a 0.2% share of the market. Have a good weekend.
Myintroducer.com (UK) – Online P2P Lenders could replace high street banks
BBC News (UK) – What threat to banks from internet lenders?
Fox Business – Personal Loans on the Rise, but are They Right for You?
Marriage on a Budget – A Lending Club Review
Wiseclerk – Updated: State of Selected P2P Lending Companies
Lending Club Experience – Eight Months on Lending Club
The Greenpoint Gazette – Smallknot Redefines Small Business Finance
The Telegraph (UK) – Technology could take the bankers out of banking, says BoE policy maker Andy Haldane
Money Talks News – 4 Things to Know About Peer Lending
The Wisdom Journal – Borrow Low and Invest High
MSN Money (UK) – The one-year savings bond that offers a 5% return!
Jutia Group – Ten Percent Yields Without Buying a Single Stock?
So Much Cooler Online – Prosper.com 1-Year Performance Update
Compete to Win (UK) – Business Loans without Banks
Sweating the Big Stuff – Lending Club Returns at 16.02% in March 2012
Experience the Blog – Peer-to-Peer Lending: The Leading Edge of Social Business
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.