Wednesday, November 08, 2006

Peer to Peer Loan and Investment Strategy

These days, online loans are becoming a way of life. In years past, you had to make a trip to your local bank branch, sit down with the branch manager, outline your plan, and wait for your approvals to go through.

As technology improved, the banks have gone “online” to better and more quickly serve their customers and their daily needs. Along with that came the process of applying for
online loans. So what’s next?

If you are at all familiar with the internet, you are familiar with the term “peer to peer” networking. Zopa, which stands for “Zone of Possible Agreement” has developed a system of investment and loans, where people borrow from or lend to the other members of the network. What does this do for you? It cuts out the middleman, or bank, which allows the investors and borrowers in the group to reap the financial benefits instead. They are currently operating in the UK and soon to be launched in the US. If you are looking for a different way to invest or get a loan, this might be another option for you.

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