As reported earlier Dutch site Boober.nl failed. Richard van den Toorn, speaking for the association of lenders PIVN, estimates that about 1,200 lenders are affected. While part of the total loan volume of 1.65 million Euro had been repayed over the loan term before the failure, overall borrower’s willingness to pay dwindled after the failure. Still PIVN hopes to recover 50-80% of the outstanding amounts on behalf of the lenders.
(Source: ANP via Nu.nl)
Today Lending Hub announced the launch of the p2p lending service aimed at loans between family and friends. Lending Hub is a private Australian company based in Sydney (Read earlier coverage by P2P-Banking.com on Lending Hub, including a guest article by Director Ivan Martelli).
Lending Hub loans are 3 year unsecured loans. Currently most loans listed seem to be example loans.
Lending Hub fees for borrowers are a listing fee of 30 AUS$ plus a settlement fee upon funding ranging from 1.25% to 4%, depending on credit grade. Lenders pay a fee between 1% and 3% of each repayment depending on credit grade.
Aqush.jp adds support for business loans to it’s p2p lending platform for friends and family.
The new AQUSH TOMO Business Loans service provides users with a simple and secure means of creating documentation to formalize small business loans between family, friends and other business associates. This new service offers small business owners and entrepreneurs a viable alternative to risk-adverse and costly traditional lenders. Business Loans between individuals and/or corporate entities, with or without a guarantor, are fully supported by AQUSH TOMO Business. After loans have been made, both borrowers and lenders can manage repayment using the AQUSH online platform.
(Source: Aqush company management)
Matt Flannery has written a great article recapitulating the story of Kiva. “Kiva at four” centers on the developments in the past two years. Flannery shares his vision what Kiva might develop to.
I won’t even try to extract the highlights as the whole article is a fascinating read.
I just guaranteed $25 of a loan to Sakho Devi and group, Ritudih, India via Unitedprosperity.org. United Prosperity has launched on May 28th. See my earlier United Prosperity review including an interview with CEO Bhalchander Vishwanath for more information on the concept.
Signing up and selecting the loan went smoothly. For the requested loan of 1,052 US$ a guarantee of 579 US$ needs to be raised.
Sakho Devi has a grocery shop of her own, with which she earns her living. She has applied for a microloan to expand her small grocery shop, so that she can meet the demand from customers.
The listing also states some data about the partner MFI – Ajiwika Society – it’s interest rate, delinquency rate, default rate and target clients.
Tomorrow Kiva will announce that it will start to fund loans to borrowers in the United States. Kiva, which so far lets anyone support loans to small entrepreneurs in developing countries, is reacting to lender suggestions who wanted to use Kiva to help borrowers in need in the US.
In the US Kiva will partner with Accion USA and Opportunity Fund to select eligible borrowers. Initially the small business owners borrowing will be from the areas of Atlanta, Boston, Miami, New York and San Francisco. Continue reading