Peer-to-peer lending, or social lending, has grown in popularity with a number of nonprofit and for-profit companies now using this business model. Peer-to-peer (P2P) lending networks allow customers to borrow money from other individuals rather than borrowing from a bank.
Two new companies are now carving out their own specialized niche in the social lending marketplace:
- Home Equity Share creates co-ownership in real estate by allowing investors to provide down payment loans, buyers to secure a mortgage, and the two co-own the property.
- Fynanz allows investors and lenders to fund alternative private student loans to finance a student's higher education.
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