Peer to peer lending has exploded over the past few years.
It’s hard to believe in 2008 I didn’t even know what peer to peer lending was.
After I got into blogging I discovered Lending Club and opened my first account with them.
Several years later Lending Club has issued over $3 billion worth of loans.
That’s billion with a capital “B”!
Prosper Loans has also had rapid growth with other competitors wanting to get in on the action.
As the marketplace has grown so has my interest in adding more of my investment portfolio into it.
Last year I split up my Solo 401k (it’s only been active for two years) between both Lending Club and Prosper to see which one would get me better returns.
You can see those results here.
As you can see, I’m totally into peer to peer lending.
Social Lending Expert
Just so you don’t think I’m gone off my rocker with peer to peer lending, I invited a social lending expert to share his thoughts on the market.
Peter Renton from LendAcademy.com has been tracking this space for a while now.
We actually met at the 1st Financial Bloggers Conference several years ago and he was interested to meet me because I was one of the first financial planners he noticed that was blogging about the niche.
What You’ll Learn in This Podcast
- What exactly is peer to peer lending?
- How risky is it as investment?
- What does it take to get approved for a loan with each?
- Find out Peter’s experience with P2P
- Learn Peter’s projection in this hot sector
- What % of Peter’s portfolio is in P2P?
- Which platform is better? Lending vs. Prosper
Resources from this podcast: