I've been looking to get back into the p2p lending game after a five year hiatus. Last time I invested in peer-to-peer lending was through Lending Club and I saw about 10% ROI. Curious if anybody has had a chance to try out p2p for payday loans? I saw that there are a few lenders working on platforms to bring these loans to market. I imagine the ROI could be amazing, but I'm also weary since we're dealing with risky borrowers? Thoughts? Not even sure if this platform will be open to residents from other states, but I saw this blog post discussing a platform that a california lender is working on, for reference:
https://www.mymillennialguide.com/peer-to-peer-lending-investing/
I don't see a date on that article, so no way to know whether it is years old or what.
Thank you, the article is very useful. Can you suggest the same one about the European market?
It's clear to me now. I'm glad there is a way to get the
best small business loans. These days services provide loans completely via Intenet. All direct lenders provide loans with a fixed interest rate that never changes. If you are looking for financial help, loans may be a perfect option for you. These loans are created for the people who are willing to repay their loan in a short period of time, but not all at once. It's great that interest rate won't go up with the time flow. Btw, there is no hidden fees.
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MANAGEMENT.
Any consumer or investor considering using a peer-to-peer lending site should check the fees on transactions. Every site makes money differently
check this review, but fees and commissions may be charged the lender, the borrower, or both. Like banks, the sites may charge loan origination fees, late fees, and bounced-payment fees.
Have you read the opinion of RevenueLand on Mintos p2p lending payday loans? It says that they prefer to focus on more loan originators rather than focusing on a specific class of loans. I tend to trust them. Payday loans are not safer than other loans since the buyback guarantee 8in the case of Mintos) is offered by the lender, not by the borrowers). So they focus on the lenders. Of course I read many blogs and forums like this to collect my investing information.