Bid On A Loan

Peer-to-peer lending via the internet was the subject of a recent article in The Wall Street Journal . Prosper Marketplace is trying to create an e-Bay style marketplace that connects borrowers and lenders.

Typically useful for individuals who have bad credit or have a hard time obtaining traditional financing from a bank, this service provides lenders an opportunity to fund these non-conventional loans ranging in amount from $50 to $25,000. Interest rates can go up to 29 percent depending upon the state.

Noting that the process was simple and timely, one borrower said, “you’re bypassing a whole bunch of steps that are draining, time consuming and non productive”.

If your business doesn’t quite fit the mold, consider borrowing against your company’s assets – purchase order financing, factoring and equipment leasing are all sources of working capital that may help you meet your financing objectives.

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Related Tags: factoring, accounts receivable, p.o. financing, purchase order financing, bank loans, equipment leasing, working capital, cash flow