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Loans Online: Everything You Know About Social Lending

When it comes to online loans usually think of the funding request made through an online form.
In reality as the network and the social networking have influenced the media and with the dynamics of viral marketing, are contaminating heavily on financial products such as loans.
a loan scheme, or rather, micro-credit managed social dynamics is called Social Lending .

Photo credit: Mitarart
If you do not know yet the social loans is what you need to know;

What is the difference between traditional social lending and borrowing?

In normal loans is the bank that will lend you money in the social lending like you are deprived.

If I do not grant a loan in a bank I can get one of these sites?

Hardly. Even in online social lending is calculated rating of the applicant (the risk for investors that lend money). If you are considered high risk for a bank it'll probably online.

I have to give guarantees for the loan request?

No, or at least not in the form required by the banks

So I can not repay my debt, so I have not given guarantees

In theory yes, but considering you do not get large sums with social lending . And do not pay a small sum of money will make it impossible to use this opportunity again in the future and forever. Worthwhile?

If individuals like me who lend money then I can also provide

Exactly. In a social lending platform you can subscribe to both borrow and for invest money by lending to those who request them.

If I want to lend money but the applicant must show no warranties as to be protected?

there an upper limit of money you can invest, which is divided into parts. You can not give to one person more than one party.
To give a practical example: if you invest € 10,000 in total can not give one person more than 10%. So you have to pay 1000 € to 10 different people. This limits your risk and avoid speculation.
Even the person seeking the loan will receive money from TOT investors, not just one.

But what is the interest rate?

This point is perhaps the most interesting aspect of social loans; the interest rate is determined by the applicant for the loan . In fact, the applicant shall submit a request specifying the amount, and the reason for requesting the rate he is willing to pay.

But then ask for a loan with a low rate!

And who grants it? They are the dynamics of demand and supply. If the rate is too low no one will money, and you will be forced to resubmit the request for raising the rate. So, you see, are nothing but dynamic market with the difference that the banks are out of the game.

conclusion I hope you a little more clear the concept of social lending. And keep in mind that every social lending platform has its own rules, that considers the information in this post as general guidance .
Some platforms loans peer-to-peer;

• Boober
  recently acquired by Centax ( is how it works).
• Zopa
  The founder, the first social lending site World
• Kasba
  Recently established
• Kiva
  oriented micro-credit to poor countries

Daniele Di Gregorio