Ways to Make Money Online by Peer-to-Peer Money Lending

This is a relatively new concept where people fund loans for other people, essentially cutting out the bank. I have experimented with this a bit myself without much success, though I have seen reports from other trustworthy people who are showcasing 5%+ returns on their loans.

 

Ways to Make Money Online by Peer-to-Peer Money Lending

· Community Lend – Similar to Lending Club, but for Canada residents.

· Lending Club – (U.S. Residents Only) Peer to peer lending, which starts in increments $25. I have used lending club myself and frankly have not seen exciting returns (currently around 2%) on account of a few defaults on several loans.

I also feel that in order to properly diversify (spread out over a bunch of different loans) it takes a fair amount of time to research the loans and find the right ones for your strategy.

Of course a lot of finance is conducted primarily online, however, one should approach this with an added degree of caution, since this is one of the few parts of this post where you can actually lose money by attempting it.

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