Starting today, a range of next-generation financial services companies, all of whom employ technology in innovative ways, have teamed up to market some much-needed help to consumers with the Uncrunch America campaign. Like a team of of financial Superfriends, Lending Club offers personal loans through a peer-to-peer model, Virgin Money (yes, a pro-social for-profit offshoot of the Branson empire) has peer-to-peer mortgage financing, OnDeck Capital offers small business loans with a proprietary holistic scoring model, CreditKarma has credit score tools, and Geezeo offers personal finance and budgeting tools.Since the beginning of the year, UnCrunch members have lent almost $75 million to one another.My last post on P2P lending was just a few days ago, so clearly I am sold on the idea. If nothing else it will ease suffering while our leaders figure out what to do about TARP II and the zombie banks.
Thursday, February 26, 2009
Uncrunch America
A new Fast Company article about a campaign to end the credit crisis through peer to peer lending has received considerable attention. From the article:
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