Person to Person lending squeeze


	Person to Person lending squeeze

Maureen Farrell

10-16-2008 12:45 PM

1115 views

Maureen Farrell says:

It's not just banks but peer to peer lending sites are getting hit too -- by investor wariness, SEC regulators, and of course, business and individuals that can't repay.

For a look at a few additional options for capital, check out one of my recent videos:
http://www.forbes.com/video/?video=fvn/boost/mf_byb100208

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/0dfff262-3f56-4a8d-bc6b-47f7796f4639/3893964F-01CC-4840-949F-E046B742D53C/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2008/10/16/technology/start-ups/16peer.html?ref=business" href="http://www.nytimes.com/2008/10/16/technology/start-ups/16peer.html?ref=business" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/10/16/technology/start-ups/16peer.html?ref=business"><P>On Wednesday, the nation’s largest peer-to-peer lending site, San Francisco-based Prosper, stopped allowing lenders to make new loans, saying it needed to wait while the Securities and Exchange Commission evaluated its regulatory filings. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/10/16/technology/start-ups/16peer.html?ref=business"><P>But Prosper and its cohorts are now encountering some modern hurdles. Last April, Lending Club, a start-up based in Sunnyvale, Calif., that facilitates borrowing between members of social networks like <A title="More articles about Facebook." href="http://topics.nytimes.com/top/news/business/companies/facebook_inc/index.html?inline=nyt-org">Facebook</A>, asked the S.E.C. for permission to create a secondary marketplace —  a place on its site where lenders could resell their loans and cash out before the end of a loan’s three-year life cycle.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/3893964F-01CC-4840-949F-E046B742D53C/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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