Starting out

Ok, Let's get started. I'm Chris and I'm putting together this channel of information on peer to peer lending. It's something that has caught my attention with the headlines in the paper that this form of lending may become a leading way to borrow money. The levels for the U.S. are at $0.6 billion in '07 to over $5.8 billion in 2010! That's roughly a 800% leap from today's levels. But it makes sense. Loans from banks have become so strict with paperwork and then have high rates. A year ago I tried to give my local bank officer a chance to see what he could offer for an equipment loan. After struggling through the forms his rates were way up there. Thanks but no thanks. I wish I had found peer to peer lending back then. I ended up putting the loan on credit cards ( had to split the amount onto two ). Then I recently had to juggle the amount to other cards. So, I'll be watching the peer lending sites and see how they grow. I hope you come along on the adventure with me.