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Posted by Brad Strothkamp on January 22, 2009
[Posted by Brad Strothkamp}
Is it me or is there at least one major announcement in the Person-to-Person (P2P) lending space every week?
This last week had two:
Here is my view on person-to-person lending:
Unfortunately, the cons outweigh the pros at this point. Until that changes, the P2P market will remain a niche market utilized by only the most savvy of Internet users and investors.
So what will be the sign that P2P lending is poised to take off? I believe it will be when we see at least a quarter of consumers applying for loans online and/or we see a larger percentage of consumers utilizing comparison shopping sites. Forrester data has shown that consumers willing to do these activities tend to be longer tenure, savvy net users. The precise audience best suited for P2P lending.