Peer Loans Online

Your first stop into the world of peer lending and personal finance

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What are Peer Loans?

No product pitches, no pressure. Just honest information about peer to peer loans and personal loans to ditch your debt.

Welcome to Peer Loans Online and the peer lending revolution. You might not have heard much about peer lending yet or you might have heard some shady information from another site trying to push people to their lending website.

By the time you’re done here, you’ll have all the info you need to make a better decision about personal loans and how to use p2p loans for borrowing and investing.

My name is Joe and I’ve been there.

Where’s there? Everywhere. I’ve saved money and learned how to live on less but there was also a point in my life when I lived paycheck-to-paycheck, relying on payday loans to get me through the week. I’ve used just about every type of loan available and I’ve been a loan counselor at a local non-profit debt counseling service.

I’ve seen the dark side of credit, the predatory interest rates on bad credit loans and ‘starter’ credit cards. I’ve also seen the good side of debt, the ability to create something on borrowed money and earn returns well over the interest rate.

This p2p blog is about sharing everything I've learned about credit, how to improve your credit score and how to use credit to get the money you need at an interest rate you can afford!

Know what you want and just need to check out your options? Click through to our resource list of the best bad credit personal loan websites.

Peer lending and personal loans are just a tool

So you're probably asking yourself, “What does peer lending have to do with me?”

Peer lending is nearly identical to traditional bank loans. You fill out an application online which is reviewed by the peer lending platform. The p2p lending website will quote an interest rate on the loan and put it on its site for investors.

The only difference between a bank loan and a peer loan is that investors fund your p2p loan directly, without the bank getting in the way and taking a cut of the profits.

Without the middleman bank or big-money firms taking a cut, borrowers get lower rates and investors get a better deal.

You make monthly payments on your personal loan just like any other loan and the peer lending site passes the money on to investors. You get faster funding, in as little as a few days, and the investor gets higher rates of return.

Peer lending is part of the social revolution. The internet has allowed people to connect like never before, now helping people get the money they need through p2p loans online.

Peer loans are a tool just like any other type of credit. Use them responsibly, paying off high-interest credit cards or for home improvement, and you’ll be able to do more than you thought financially possible. Use them irresponsibly, to buy more than you can afford, and it’ll be like taking a sledgehammer to your credit score.

Improving your credit before getting a loan will save you thousands of dollars. Having a 600 credit score was like a death sentence when I destroyed my credit in 2009.

What Peer Loans Online and Peer Lending is all About

Because I’ve been where you are right now, looking for options and information about personal loans and credit, I wanted to make Peer Loans Online an online loan resource for everyone like us. The blog is about how to use peer loans and other types of credit to get out of debt and build something good.

No question or subject is off-limits. I won’t be pushing any particular lender or loan product so I can say pretty much whatever I want about the companies and the personal loan industry. I want to be your source for honest advice on how to use good debt and avoid bad debt.

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About Me : Joseph Hogue

An investment analyst by profession, I am excited about what the peer lending revolution means for how we think of lending in America. The restrictive traditional model of banking is being pushed aside. Investors and borrowers are being matched up directly and getting a loan has never been easier. Read More…

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