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Loans are the bread-and-butter of this site.

Most of what we discuss here are unsecured loans in the form of credit cards. We discuss credit card debt in all its many forms, touching on a broad range of topics. For the sake of building a better financial history, we discuss secured loans. Plenty of topics involve debt financing.

At a point, I branched out into a couple of broad topics I thought were important for borrowers. One was financial literacy–basically, the idea of learning more about credit, including some basic education on the subject.

The other is covered here: social lending.

That might sound like some kind of made-up term to those skeptical of “the trendy”. It’s not. Microfinance is about crowdsourced funding and peer-to-peer lending.

What I’m talking about is an alternative to the traditional forms of lending. This is about getting loans from somewhere besides banks and savings & loans associations. It’s not about charging up another VISA or MasterCard. It’s about getting money from other nonprofessional people like yourself.


Crowdsourcing or crowdsourced funding is something you’ve probably heard about. Kickstarter is the most famous one of these services, but many websites exist which allow people to get funding from a crowd of people. In the case of Kickstarter, known artists and entertainers collect funding from their fanbase.

Movies and webcasts and musical records and board games and e-comics have been funded through Kickstarter. The fans want to see something creative produced; the talents don’t want to have to deal with producers and studios; they get together. Usually, the fans get rare access, updates, early previews, discounts, or swag associated with the project.

Not everyone is a star. Crowdsourcing exists for startup businesses, struggling artists, and villages in Africa. The process is the same, but it opens up a world of possibilities.

Peer-to-Peer Lending

Peer-to-peer lending is something different.  Microfinance is where the one involves masses of people, peer-to-peer lending involves one person giving a loan to another. They cut out the middleman called the bank. Actually, bankers are replaced by another middleman: the P2P service.

These people host a platform for fair trading, then take a fee for doing so. They connect people, so it’s a kind of exchange for lenders and borrowers. It’s a business investment for one, a chance to start a business for the other. Many of these sites exists, including MoneyTree, Lending Hub, Virgin Money, Funding Circle, P2P Financial, Zidisha, Zopa UK, I-Lend, and dozens of more sites.

The subject is expansive, as you can see.

I’ve included a nice little hub of articles on both subjects in the Loans section of the old No Credit Needed blog. They should serve as a nice introduction. You can find those pages below.


7 Things Banks Don’t Want You to Know about Credit Unions
Are Student Loans a Good or Bad Idea?
How Can I Consolidate My Student Loans in 2015?
How to Spot Predatory Lenders: Bad Loans 101
How Does the Weemba Social Lending Site Work?
Installment Loans vs. Payday Cash Advances
Is Consumer Credit Counseling a Good Idea?
Micro Lending 2015: P2P Loans in the United States
No Credit Check Payday Loans
Try Social Lending: Bad Credit Tips
U.S. Laws on Debt Settlement Companies Could Change the Industry
UK Social Lending Sites
How a Self-Directed IRA Works: Investing and Lending
No Credit Check Personal Loans
No Credit Check Student Loans for New School Year: 2012-2013
Prosper Social Lending Site Review

Continue reading this site for more articles on loans, debt settlement, and financial literacy.

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