Consumers eye social lending on the Web
November 28th, 2007

Prosper.com is the U.S. leader in a growing trend known as peer-to-peer lending, which facilitates loans between complete strangers. USA Today reports

Social lending has been around since the days when needy families turned to the richest man in town, but the Web is breathing new life into the practice. Loans on Prosper and Facebook’s Lending Club have risen to $100 million this year from $27 million in 2006, according to Online Banking Report. By 2010, the report forecasts $1 billion in peer-to-peer loan originations.


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