Peer-to-Peer Consumer Lender Expands into Small Business Loans

March 20, 2014 by Rex Hammock in Money

Lending Club, the biggest “peer-to-peer” consumer-lending platform, today launched a platform for investors to fund loans to small companies.

(via WSJ.com) Lending Club, the biggest “peer-to-peer” consumer-lending platform, today launched a platform for investors to fund loans to small companies. It joins a number of upstarts, including Dealstruck and Funding Circle, offering small businesses alternatives to banks, credit cards and short-term lenders.

Quote:

“The ventures aim to capitalize on a crunch that has been growing since the financial crisis. The value of outstanding commercial loans under $1 million at federally insured banks—a proxy for small business—has declined nearly 15% since 2008.”

Continue reading: Lender Expands to Small Businesses (WSJ.com)

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