Caja Navarra Introduces P2P Lending Service CAN

Spanish regional bank Caja Navarra is the first bank to offer it’s own customers a p2p lending service. Caja Navarra announced the p2p lending microsite. Caja Navarra markets this new peer to peer lending service as one investment option in a letter to its 400,000 customers.

The service allows any customer to place a loan request which can then be fulfilled by a relative, a friend, an acquaintance or a stranger. Caja Navarra says the borrower can benefit by receiving a lower interest rate than in a traditional bank loan. There are currently 3 loan requests listed (if I understand the site right).

This is the third peer to peer lending service in Spain after Comunitae and Lubbus.

For Debate: A Flaw in Current P2P Lending Models?
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