Comments on: Top 5 social lending sites that knock out the bank middle man

By: Mike

Mike — Tue, 17 May 2011 20:24:23 +0000

DFAI is a new social lending site based in the UK, which offers lenders a saftey net against bad debt, worth a look at, as there is no fees to the lenders.

By: pushpendra

pushpendra — Mon, 21 Mar 2011 10:40:52 +0000

Hi,

You forget to name yes-secure, it is fully social lending site.

By: Michael

Michael — Sun, 27 Feb 2011 01:16:05 +0000

@Jordan

Well as an authorized employee you sure don’t know your own company’s history…

At the time I posted my comment it was absolutely true. I believe my information is good as I was the co-founder of LoanBack and built the site. LoanBack was subsequently relaunched some time in 2009 I believe after the launch of LendingKarma, ironically enough, with an attempt at providing the same feature set as LendingKarma.

So not exactly true when you say:

“this has been the product offering from the onset :)”

From the launch in Nov. 2005 until sometime after LendingKarma launched in 2009 the product set was exactly as I stated.

Regardless, I’ll leave it as an exercise to the reader to determine which product is the right one for them. Happy to answer any questions about our offering and how we believe it is superior to others.

Cheers!

By: Jordan Daniels

Jordan Daniels — Mon, 08 Nov 2010 07:59:51 +0000

@michael: FYI Michael, LoanBack does provide a lot more than just agreements and promissory notes to formalize your loan; It helps the user track their loan and adjust for over and under payments too – this applies to both lender and borrower.

Not sure where you got ur info, but this has been the product offering from the onset :)

Disclaimer: Authorized employee

By: Mark Ashton

Mark Ashton — Sun, 13 Sep 2009 12:03:29 +0000

In the UK the regulations are different to the US. This makes it easier to operate in the Social lending environment. Bigcarrots.com use the social lending model but for businesses, their crusade is to help ordinary people back British businesses. Similar model to Zopa but loans are from 3 months to 36 months so business can effectively replace their bank overdraft. You have to be a UK resident to use the site.

By: Michael

Michael — Tue, 28 Jul 2009 06:36:04 +0000

Nice write up. Since this article was created a new site that might be considered a better alternative to LoanBack has been launched. In addition to having all of the same features as LoanBack there’s an additional loan payment tracking tool that helps track payments including helping adjust for over and underpayments providing a more complete solution for the do-it-yourself customer.

Disclaimer: I am the founder of LendingKarma.

By: Bob

Bob — Tue, 05 May 2009 00:52:17 +0000

This is one of those “get rich placing google ads” sites. Typical!

By: SocialLender

SocialLender — Sat, 10 Jan 2009 05:06:36 +0000

Great write up. Of the ones you mentioned, only Lending Club seems to be open.

I also found this idea on Change.org:
http://www.change.org/ideas/view/solving_the_credit_crisis_from_the_bottom_up

By: Social Lending

Social Lending — Fri, 26 Dec 2008 23:52:36 +0000

Nice write-up, but you should mention that most social lending sites are currently on pause due to registration filings with the SEC. Lending Club is the only lender currently making new loans in the U.S. Virgin Money is an alternative, but it’s BYOL (bring your own lender!)