The multi-billion peer-to-peers or P2P industry, which is expected to increase at a high double-digit compound annual rate, is turning out to be one of the best borrowings and investing venue.
Although regulations for evolving industry has somewhat halted growth rate in the previous few quarters, the prospects are bright for marketplace lending as regulations are increasing borrowers and lenders confidence in this industry.
Despite attractive returns and easy borrowing facilities, it’s essential to choose the platform that offers the best services according to the regulator’s requirements.
Lending Club is one of the best options for both lenders and borrowers due to its legal status and a strong reputation in the emerging industry. Lending Club has loaned close to $45 billion since 2007 and, in 2014, it became the first-ever publicly traded company is P2P lending industry. It offers various types of loans including personal loans, business loans, students loans and so on. They charge origination fees from 1.99 to 8.99 percent. One can start investing in the lending club with just $1,000.
Funding Circle is a peer-to-peer lending company founded in August 2010 in the United Kingdom. It is one of the most reputable P2P lending platforms and offers secured loans which reduces the risk of losing your entire investment. Loans are also approved very quickly and there are automatic investment options.
Source: Lending Club Website
Upstart is one of the fastest growing P2P lenders, which offer best services to investors and borrowers. Its business has been growing at a tremendous pace since it launched a consumer loan product in May 2014. It’s quite simple to invest in Upstart; the investor only needs to customize an investing plan for his funds, and the platform lets the investors invest automatically.
FundRise has a history of offering 8 to 12% returns to investors. The investors can start investing in this platform with only $500 in hand. The P2P Company has returned more than 65 million to investors in the last year alone. The platform permits investors to invest money according to their goals. It offers an investment portfolio filled with multiple real estate projects. All these projects are handpicked by the management and proactively developed to maximize investors returns.
