Countries

Friendsclear launches in France

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Friendsclear.com has launched a french p2p lending service. Due to regulation issues it does differ very much from p2p lending services like Prosper or Zopa. Friendsclear only offers the tools for lenders and borrowers to agree on and document a loan and its payment. Friendsclear is not involved in the transfer of the money itself.

Director Jean-Christophe Capelli last year contributed the guest article ‘The situation of social lending in France‘.

French language blog sources with more background information: insiden, duperrin.com

Requesting a Zopa (US) loan can harm your credit history

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Tom of Prosper Lending Review found out that when he tried to request a Zopa loan not only was he rejected, but the Zopa credit inquiry was listed on his credit report. Unlike other p2p lending services in the US Zopa does a hard pull. The Zopa FAQ states:

We think it’s best if you assume that there will be an impact to your credit score. That means you should only get a quote if you really would be interested in a Zopa Loan.

Bad.

Loanio – more loan listings on first day

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After the Loanio launch yesterday, already some more loan listings are up at Loanio.com. Right now I count 8 listings. Probably more are in the making. No bids yet, which is not surprising as the lenders have to sign up and transfer money to Loanio first.
Michael Solomon, the CEO and founder of Loanio had a lucky week according to the Loanio blog – not only did he launch Loanio, but he also won $1,000 in the New York State Lottery.

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Loanio launch II

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Last week I titled ‘Loanio Launch‘. That was a little premature (I was not the only one fooled by the site apparently going live – see Tom’s blog). Well today Loanio.com is really live. And there are 5 listings at the moment (see screenshot). For a list of features see the previous loanio coverage.

Loanio listings

Netbanker has a list of states (with max. interest rates), open to Loanio borrowers. You are welcome to discuss your thoughts on Loanio in Wiseclerk’s Loanio Forum.

Zopa.it – facts and figures

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Zopa.it goes live: 16th January 2008*
Average gross return on money lent-out through Zopa.it: 7.66%
Average annual cost on loans (APR) borrowed through Zopa.it: 9.45%
Registered members of Zopa.it: 23,242
Total loan volume since launch: €2,787,090
Number of loans: 535
Loan volume currently under evaluation process: €336,690
Average loan amount: €5,210
Average loan duration: 31 months
Amount rate late:€6,622.24 (percentage amount late: 1.88%) = 6 loans (this fig. as of end of Aug.)
Demographic characteristics of the Zopa users:
Female:     15%
Male:         85%
18 – 24 years old:      5%
25 – 34 years old:     32%
35 – 44 years old:     35%
45 – 54 years old:     19%
55 – 64 years old:      7%
65+  years old:     2%
First 3 regions by number of registered members: Lombardia (18%), Lazio(13%), Campania(9%)
The most popular uses for the money borrowed from lenders through Zopa.it:
Home improvement /furniture: 28%
Debt consolidation / pay off loan from relatives: 26%
Car / motor bike: 12%
Unexpected expenses / Repairs: 9%
Family events (wedding, school fees, medical expenses…): 7%

All data as of Sep. 3rd, 2008 (Source: Zopa Italy management, Zopa blog)

*public launch; there was a 2 month period before, that was open by invitation only since Nov. 14th