Seems pretty damned difficult to get a loan from them no matter how any times they mail me begging to do so. I really don't understand what market niche these alternative lenders are looking to fill. If your credit was great, wouldn't you just go to a real bank?
>>1030716 I don't understand peer to peer lending either
It's just the cost of making a small loan to a lot of is pointless considering the underwriting costs of a $5mn loan is the exact same as a $250k loan. The only thing these personal loans are valuable for is collateralizing them and turning them into securities. So I understand why this market would exist
>>1030809 >They generally offer better terms than the banks. That hasn't been my experience. The one time I was actually approved, it was for $500 at 39% interest. While I have some debt (looking to consolidate), it's not a horror show. I could go to any bank and get quadruple the limit at half the cost without even trying.
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