Alternative Lending Sources?

Discussion in 'Private & Conventional Lending Discussion' started by ebargan, May 25, 2014.

  1. wulfman

    wulfman Guest

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    I have had experience borrowing from family and it always left me feeling under pressure to pay them back. I even avoided meeting them until I paid them back just in fear that the conversation might come up. It is just how I am though. So I rather borrow from a bank and pay the interest than borrow from family.
     
  2. wulfman

    wulfman Guest

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    I have never heard of this. So is this a site that connects you with some random person who loans you money ?
     
  3. ReDGuNNeR

    ReDGuNNeR Member

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    I have heard good things about Prosper and sites like that. They do a credit check on lenders as well as have you sign off and agree to certain things. Seems like a good loaning source if you can qualify for it.
     
  4. Kael

    Kael Guest

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    Yes, the site acts as a "middle-man" for the borrower and lender. You have the option to choose who your lender will be based on the interest rate. Some people have received life changing opportunities from using a loan thru prosper.
     
  5. Gelsemium

    Gelsemium Senior Investor

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    That sounds good on the paper, but how do the people that gives the money know that will receive it back?
     
  6. dianethare

    dianethare Senior Investor

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    @ Kael, how does it work, seeing you are saying its a good site, what are the requirements? what is the procedure like?
     
  7. Profit5500

    Profit5500 Senior Investor

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    Weird I never heard of this before. Well I do not have any money to borrow since I am not buying a home. what is the name of the website that offers this service?
     
  8. dianethare

    dianethare Senior Investor

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    Am guessing its called Prosper, i always get caught between two choices, to borrow or not borrow?....its normally a catch 22 situation. I'd rather borrow family or friends {specific ones though} than lending sources because of interest costs :(.
     
  9. dianethare

    dianethare Senior Investor

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    I'll check it out then!....i had no idea Reddit do lend a hand/loan...quite awesome i must say. :)
     
  10. jdroc

    jdroc Guest

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    Yeah read the fine print. You don't want to get in a bigger hole getting into one of those predatory loan situations.
     

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