Auxmoney.com has added more loan term choices for it’s p2p lending borrowers to choose from on the weekend. Previously available loan terms at Auxmoney were 12, 24 and 36 months. Now any term between 12 and 60 months (in 6 month increments) can be selected.
Auxmoney achieved substantial growth rates in the second half of 2009 (see Wiseclerk statistics tracking Auxmoney loan originations per month). And this is despite the fact that Auxmoney was criticized by a renowned consumer advocacy institution for misleading marketing and unfavourable fee structures.
In international comparison of p2p lending fee structures, Auxmoney is a rare exception, as it charges many fees regardless of whether a loan request is successfully funded or not. With it’s listing fees Auxmoney generates revenues even from those customers with bad credit history that have little or no chance of getting funded by lenders.
(Source: Uses information from yesterday’s article at P2P-Kredite.com)