Peer to Peer lenders.

[Account Closed]

I've been investigating several peer to peer lenders lately and I'm a little weary of them.  Some are banned in certain states and I have other concerns. Has anyone used or does anyone know someone who used Lending club, Prosper, or any other peer to peer lending group to fiance a deal? And it seems like their interest rates are a bit high compared to traditional loans in my area. And what kind of deals do people think they would be good for? They seem to have looser terms and less restrictions and have high minimums like $100,000 for Realty Mogul which is one of these peer to peer sites solely for real estate deals. 

[Dawn Anastasi]

Originally posted by @Steven Forman:

Hey Shawn,

I have never used a peer to peer lending site for anything but there is a BP podcast on this exact subject.  It is podcast #29 (an older one) with Dawn Anastasi.  I believe she is active on the site maybe try reaching out to her.  Good luck.

Yep!  Here is the podcast on peer to peer lending.  I used peer to peer lending to buy houses but there are many other uses for it.