Little Rock, AR (PRWEB) April 22, 2009
Thanks to the economic crisis, individuals who need a loan - to buy a car, grow a small business, or put a child through college - often find themselves out of luck when they turn to a commercial bank for help. With billions of toxic assets tying up resources, many banks are unable or willing to loan money to anyone whose credit score is less than perfect.
As a result, more and more individuals are turning to person-to-person lending, enabled through Internet sites like Facebook's Lending Club. Person-to-person lending is a growing trend thanks to the sagging economy: Lending Club new loans are up 40% over year-ago levels.
Risks and Rewards
Online person-to-person (or people-to-people or peer-to-peer) lending takes advantage of the lack of overhead, thereby reducing the costs and fees found in traditional institutional lending. But like any financial transaction, online person-to-person lending/borrowing is not without risks.
The Complete Idiot's Guide® to Person-to-Person Lending (ISBN: 9781592578825, April 2009, Alpha Books, $19.95) tells readers how to reduce risks and maximize rewards by explaining:
Beverly Blair Harzog has an MBA and is a former CPA. She's a professional journalist who writes about personal finance and lifestyle topics for national consumer magazines, websites, and custom publications. Her work has appeared in Bankrate.com, Good Housekeeping, Better Homes and Gardens, Wealth Manager, CreditCards.com, Health, Navy Federal, Your Business, Cooking Light, Natural Health, Natural Solutions, The Rotarian, makinglifebetter.com, and more.
Please contact Jessica Austin at jessica(at)cardratings.com or 479-452-0019 for a review copy or to arrange an interview with the author.