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peer to peer lending

Peer to Peer Lending – Easy Ideas and Complete Guide

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Peer to peer lending and fundraising have long been connected in a strong relationship. Peer to peer lending makes the whole phenomenon of fundraising something quite easy and fun filled.  Easy fundraising ideas and garnering funds to support a cause easily for sure attract peer to peer lending investors from far and wide. But before a fundraiser ventures into this lending model for investment, he should be well aware of the rules governing such an investment and fundraising scheme. We present in some details some key things to look into before moving forward with peer to peer lending.

Things to keep in mind in peer to peer lending model

Few things hold the key in any investment model for starters. With an age full of peer to peer lending investors on the lookout for interesting, innovative and creative fundraising ideas; efforts should be made consciously on behalf of the fundraisers to live up to the expectations being sought for. But choosing the right option while selecting amongst many investors of the peer to peer lending model, one as to patiently weigh down the pros and cons and make the correct selection considering he following key aspects.

  1. Eligibility criteria: The first and foremost consideration for a fundraiser to select the best peer to peer lending investor is to look into the fact that what amount of funds an investor is ready to put into a fundraising project. The greater this amount, the better for a fundraiser. This lending model based funding from an investor is certainly the chief aspect to consider before selection of an investor for fundraising for a cause.
  2. Procedure: Well we all prefer easier procedure for investment. Fundraisers should also prefer such an investors in the peer to peer lending model for an investment. Easier procedure for an investment is most preferred for hassle free and effort free fundraising.
  3. Penalties: A lot of investors in the peer to peer lending model for fundraising attach the column of a penalty before investment. A smart fundraiser should be aware of all these and choose such an investor who has the lowest value of penalty attached. This can be of much help in the long run and for the interest of the funds being collected.
  4. Support: A good support from the investors in a peer to peer lending model for fundraising is another aspect to consider before selecting an investor in this model. An investor who also provides due support to make a fundraising event a greater success should always be preferred. Any fundraiser looking for an investor should also consider the support aspect into greater consideration.
peer to peer lending

Ways to raise money via peer to peer lending

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Peer to peer lending is a unique technique to raise money and collect funds. Peer to peer lending involves people who are in need for money and those who are willing to lend. Peer to peer lending is a simple yet efficient technique to raise money. In peer to peer lending, a common rate of interest is fixed and both lender and borrower are mutually conscious of the same. Peer to peer lending is again unique in this feature as both the parties mutually consent upon the interest rate and unlike traditional ways of money lending where a pre-decided or forced rate of interest is enforced upon the lender. Peer to peer lending also provides another unique and interesting dimension, where in online peer lending platforms the present borrowers and lenders can settle lending and the issues associated online, enjoying the comforts of their homes.

But a fund raiser often gets anxious with questions about peer to peer lending. The person more often gets stuck between many things emerging in his mind which can successfully be presented on a peer to peer lending platform, to garner funds for the cause for which the funds are sought for. We present below certain ways that can easily draw attention of lenders in a peer lending environment.

Ways to attract peer to peer lending prospects

  1. Knowledge: Knowledge of the borrower is over necessary and is of prime importance when it comes to peer lending. A fund seeker must be through with the profile of his borrower. Lending sites are a good medium for such profile or background checking. A borrower should go through minutes of the borrower’s profile and get a braised of the needs and interests which a borrower is looking for.
  2. Self-profile: The profile of a borrower needs to be quite lucrative for getting looked at by lenders in a peer to peer lending model. He who is looking to collect funds should not have a bad track record with previous loans and their repayments made. Nowadays a CIBIL score maintained for an individual keeps track of all past loan history of a person. This score of the borrower should be high.
  3. Agreement: The terms and conditions of the loan agreement should be clear to the borrower as well as the lender. Any breach of contract terms is intolerable and results in decreased trust on the part of both the parties to continue relationships.

Well these few points should be clear on the art of the fund raiser before stepping into peer to peer lending for fund raising.

Why is Peer To Peer Lending One of the Best Ways to Raise Money?

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Peer To Peer Lending – Why it is one of the Best Ways to Raise Money?

Peer to peer lending, also referred to as P2P lending or person to person lending, is fast being seen as an ideal alternative to government loans and funding from traditional banks. This type of lending allows you to borrow money from P2P lenders. At one time, this concept was meant for financing micro loans for entrepreneurs to set up businesses in developing countries. With changing times, however, this type of loan is being commonly opted for by students trying to fund their higher education, housewives and small businessmen. Read on and find out how it proves to be one of the best ways to raise money.

Lack of high interest rates

Considering the fact that banks come with greater overhead expenses than P2P lenders, they charge a higher rate of interest. In case of P2P lending, banks are kept away entire from the entire process. This helps you to save a high amount of money in terms of interest, which makes it one of the best fund raising ideas.

Quick approval process

As compared to traditional sources of lending, such as credit unions or banks, which can take even a month for approving or rejecting your request for a loan, most of the P2P lenders make use of an application known as “automated decisioning” software which can almost immediately reject or accept the application for a loan. Once the application is met with approval, most of the P2P lenders take as little time as 5 days to process your request and release funds. This makes it one of the best fund raising ideas.

Fewer legal obligations

Many people find it difficult to satisfy the elaborate legal obligations which are set by banks, and the transactions also happen to be quite tiresome with these institutions. Peer to peer lending proves to be one of the best ways to raise money due to the fewer legal obligations that it comes with. The approval process is fast and the release of funds is quick enough, when applications are approved.

Easy qualifying

While approving the loan, neither the cash flow for your business nor your assets is considered. You can use the proceeds of the loan for any type of purpose associated to your venture. The P2P lending market is undergoing a huge growth. Some of the US firms engaged in this type of lending involve Virgin Money USA, Green Note Loans, Fynanz Loans, Lending Club and Prosper.com.

Keyword: peer to peer lending, ways to raise money, fund raising ideas

Peer to Peer Lending

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Peer to Peer Lending – Should You Go For It?

You might have heard about the term “peer to peer lending” one of these days and wondered what it might be. This is simply one of the social ways to raise money which is going from strength to strength and more and more people are going for this type of funding instead of traditional banks and lending institutions which have elaborate and usually difficult approval processes, not to mention the strict terms and conditions. If you are looking for some effective fundraising ideas and wondering whether or not P2P lending can be your answer, read on and know.

How Does This System Work?

It actually involves getting money from online marketplaces such as Prosper.com that allow borrowers to get in touch with lenders. Peer to Peer lending is actually a form of social lending in which lenders and borrowers can agree on a loan without letting a third party dictate the terms and conditions of the loan. It is one of the coolest ideas for fundraising, without depending on traditional lending institutions. The loan request of a borrower is listed on the website and indicates the amount needed as loan, the loan duration and the interest rate preferred. Depending on their investment criteria, lenders go through hundreds of listings to place bids on the ones that suit their business as well as by determining the monthly expenses, monthly income and online profile of the borrowers. Where fundraising ideas go, this is one of the newest ones.

How Are Borrowers Assessed?

Like traditional lending organizations, such as banks, social lending places such as peer to peer lending sites have their own ways of judging whether or not a borrower is creditworthy. These websites assess them through their credit scores and a variety of other parameters, such as their affordability scores, stability scores, DTI ratio and more. Based on these parameters, these sites can lend as big amounts as 25,000 pounds for a span of 1 – 5 years. P2P is certainly one of the best ideas for fundraising.

Can You Apply for this Loan?

As long as you satisfy the minimum application criteria, you can apply. In most P2P lending websites, the registration process is fast and can easily be satisfied. If you can offer a realistic explanation of your need for the loan, your chosen way of paying back the loan and a few pointers about your reliability and stability as a borrower, you can have a higher chance of getting your loan funded. It is one of the best ways to raise money.

Keyword: peer to peer lending, fundraising ideas, ideas for fundraising, ways to raise money

Get the Funding You Need For Your Project

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Get the Funding You Need For Your Project through the Best Fundraising Ideas

The truth is that there are many fundraising ideals but only few are effective and efficient to produce required result. So, you need not to contact a company that is not knowledgeable in fund raising when you want to fund raise for any reason. More so, you need to ensure that you hire a fund raiser that is current about the latest ideals in fund raising. These and more are what made it important for you to know https://www.pinterest.com/myefunder/ .

The Fundsourcing Ideas That Work

Whether you are sourcing for fund or you are planning to fund raise, there are needs for you to contact an expert for the service. There are many fund raisers that normally give their clients deadline for them to get certain amount of fund. Working with such fundraiser can make you lose everything and even be in debt. That is why you need to link up to the aforesaid link for easy fundsourcing experience.

Be In Control of Your Donated Fund through the Reliable Fundraiser on This Site

Apart from the fact that you will enjoy freedom without any set deadline for your fundraising when you leverage the service rendered on https://www.linkedIn.com/company/myefunder/ you are also going to stand chance of being in charge of your fund. There are no penalties for missing fundraising goal as there is nothing like goal in the first place. So, you will enjoy total freedom when you make this link selected for fundcrowding.

The Right Site You Need To Enjoy Equity in Your Fundraising on the Internet

Before going ahead to hire any fundraising expert on the internet, you need to know more about equity as regard the service of the company. Then what is equity as you may like to ask, it is simply fairness and treatment of others with justice and fairness. For that reason, you have to ensure that you contact a company that has equity as their watchword when you want to hire any company for your crowd funding.

A Must Know About Crowd Funding Sites on the Internet

Indeed, http://myefunder.com is the right site you need to know when you want to fund raise for any project. The truth is that there are multiple and other renowned fund raising sites which you can find inside this site mentioned above. That is why you have to confirm the content of this site when you want to fund raise.

 

Why Is Crowdfunding Important?

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Why Is Crowdfunding Important?

 

We here at MyEFunder get this question a lot.  It really depends on what type of crowdfunding we are referring to.  There are four major types of crowdsourcing (with multiple sub categories in each) and we will go over all 4 of them so you get an idea of which one is best for you.

Four Basic Types of Crowdfunding:

  • Donation Based Crowdfunding is where you create a campaign for a personal cause, whether it be for your self, a loved one like a family member or friend, for a business or a charity organization.  Usually these funds are donated from your network of social circles and are usually donation based.  This means that the people giving the money do not expect anything back in return.  They are giving donations based on the goodness of their hearts for that specific cause.  This idea is very similar to the GoFundMe (go fund me) style of crowdraising.  A great example of this would be MyEFunder.com

 

  • Reward or Idea Based Crowdsourcing is where people give funds (backers) for a specific idea and in return, they get a reward for the specific amount given.  The reward could be something as simple as a thank you, or it could be as big as having lunch with the inventor / owner of the project.  A famous idea that got the attention of a lot of backers was Oculus Rift which was started on Kickstarter, which facebook.com bought for $2,000,000,000. That’s right 2 Billion Dollars US.  Not only did the idea gain exposure and come into fruition, someone’s dream came a live and the backers rewarded from it as well by making it happen.  Do you want to see what else is out there, please visit rewards.myefunder.com for more details

 

  • Equity Based Crowdfunding is (more on this coming soon)

 

  •  Lending Based Crowdfunding is (more on this coming soon)

 

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