Lending in personal loans hit big time! Do you wish to lend?

It used to be just family that made personal loans to other members of the family. Then it moved up to a select few ambitious individuals who used personal loans as a means of lending. Now it has hit the big time with two main companies in the United States, Prosper and Lending Club. According to an article on Tech Crunch (5/29/2012) peer to peer (P2P) lending has reached the $1 billion mark. Yes, lending in personal loans makes the big time.

The article goes on to say that lenders can earn double-digit returns. When institutional lenders became aware of this, they started to add their funds to both Prosper and Lending Club. This sounds like a sure bet, right? The comments that appeared after an article on the Wall Street Journal 4/13/2012 had a number of very negative responses about the verification of the borrowers on Prosper and Lending Club. Federal Regulators were beginning to take note of this. Know that at i-lend, this is not the norm.

As a lender you have access to a pool of borrowers on i-lend. Borrowers are verified for identity, stay, employment, Income, financial status and repayment capability. This information is shared with you through the borrower listing page which helps you take informed decisions. Typically, i-lend borrowers are young, internet savvy, working professionals who reside in top 15 cities in India. This group is consists of individuals who are at least graduates.

The borrowers are encouraged to interact with their lenders, to create an open form of communication. The one borrowing will no longer be just a number and a loan amount. They will become a real person. this is good not only for the borrower, but also for the lender, the investor

While getting a loan largely depends on your repayment capability, i-lend gives you an additional opportunity to communicate more about yourself that may help you negotiate your interest rate with lenders.

I-lend has tips for borrowers that will improve their chances of getting a good interest rate for their loan. This open communication between the two parties creates a more positive playing field for an assured transaction, on behalf of both the lenders and the borrower.

Does this sound like an investment opportunity you might like to try? If so, contact us and we will help you become a part of our group of happy lenders.