Ringing Ceders

You may be in a financial dilemma and have been unable to find any one to loan you money.  This is a reoccurring problem that is happening all too often today because of our dire economic situation.  Banks and financial institutions have essentially frozen their assets and are refusing to grant loans to almost everyone.  But there is a way to get money if you are willing to try something new.  It is called a peer to peer loan (P2P) and it involves a business transaction between a borrower and a lender.  No financial intermediaries are needed and it is growing in popularity by the hour.  It is working for many individuals throughout the world who need some extra funds now. There are at least 20 peer lending companies in existence today and they have generated over a half-a-billion dollars in loans.  Many well-known publications such as the Wall Street Journal and The Economist have featured articles about this innovative way to loan and borrow money.  The great advantage of using a peer lending service is that there is no overhead to pay (such as with banks) because the employee base is small and administrative costs are minimal.  This means lower interest rates are paid on loans for peer borrowers and higher interest rates are earned by peer lenders.  It is definitely a win/win situation for everyone involved, including the lending site because it charges a set up fee to the borrower and a small yearly fee to its lenders.