Social Lending Sites: Microlenders/ Microfinance

http://www.women24.com/W24/Display/w24Article/0,4688,1-2-5_1747,00.html

Article: "Beware Microlenders! No Matter How Quick the Money Fix You Need, Microlenders Must be Approached with Extreme Caution." from Women24.com. Discusses the pros and cons of working with microlenders, how microlenders work, how they differ from traditional banks, and more.

Zopa

http://www.zopa.com/ZopaWeb/

Zopa is a social lending site, based in the UK. People who need money are given a rating of A, B or C based on their credit rating. Lenders decide whom they are willing to lend money to, how much they are willing to lend, the interest rate they require, and the length of the loan. Borrowers then select the offers that suit their needs.

Prosper

http://www.prosper.com/

Prosper matches people who need personal loans with lenders. Lenders bid on the loans they are willing to fund and set the interest rate they want to receive. The lender offering the lowest interest rate for the loan wins the bid. Each person seeking a loan has a profile that includes the amount of money they need, what the money will be used for, and a credit rating that is assigned by Prosper.

Kiva.org

http://www.kiva.org/

Kiva.org makes low-interest loans available to small business in developing countries around the world. Lenders can loan money in amounts starting at $25 to entrepreneurs. Profiles about the entrepreneurs and the types of businesses they are starting appear on the site. Entrepreneurs maintain updates about their businesses blogs on the site. Check out the FAQ to learn more about how the organization works.