Peer To Peer Lending Crosses $1 Billion In Loans Issued

Peer to peer (p2p) lending was always an idea with great potential. It is a simple concept. Match people who want to borrow money with people who want to invest money.  Today Lending Club and Prosper are thriving as the industry is gaining widespread support from borrowers and investors alike.

With greater than 100% year over year growth p2p lending is one of the fastest growing investments. Industry volume is now over US$50 million in new loans a month and over the Memorial Day long weekend total loan volume passed the US$1 billion mark since the industry began back in 2006.

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