Article Sphere Logo

Peer to Peer Lending - Are You Looking to Start a Business

By Expert Author: Kyle Gentile | Article Abstract
Word Count: 456 words | Views: 48 view(s)
Starting a business is an overwhelming thought. One of the first things to consider is the funding you will need to get off the ground. In the past, you would need to either find investors, an angel investor, or attempt to get a business loan. Today, peer to peer lending is a new option that people are finding it as a viable option for funding a business.

The advantage of using peer to peer lending is the scale of your application. When you apply to a bank or approach an angel investor this is just one potential lender. If you use peer to peer lending, you are submitting a request for funding to thousands of potential investors. Everyone that is on a peer to peer lending site is a potential investor. Large sites like Prosper have a couple hundred thousand members. That is an exposure not easily achieved through the other models.

There are specific peer to peer lending sites that are designed for entrepreneurs. 40 billion is one of these sites. They offer a large range of funding from $1,000 to $99,000. It allows you to then sell your loan and business by giving you the ability to upload power point presentations and video. You can also invite people to invest in your loan to gain exposure and possible funding. To further help entrepreneurs, 40 Billion has business to business classified. This list could include attorneys, web development, and business cards.

The cons of using peer to peer lending for business loans are the limited amount of funds you could receive. If your idea is a large one and you need more than just a $100,000 then peer to peer lending might not be the route you want to take. Secondly, the loan will not be in the business’s name but in a person’s name. This person is then responsible for the loan regardless of how the business does. As a single entrepreneur this might be fine, but getting funding as a group means one person needs to take responsibility.

Peer to peer lending for small business has its place. For a person looking for just some start up money or just to expand, it could be ideal. Also, there is no guarantee that it will be funded so the borrowers need to sell it. If you are thinking about applying for a peer to peer loan be very clear on what it is for and what are your goals. This is a sign of a person who has direct and makes for a more confident business proposal.
Kyle Gentile

About the Author/Author Bio

To learn more about peer to peer loans visit Kyle’s website. There you will find great information about peer to peer lending

Article Source: http://www.articlesphere.com/Article/Peer-to-Peer-Lending---Are-You-Looking-to-Start-a-Business/175812

Article Submitted: 2009-01-31 | This Article has been viewed 48 times.

Rate Article

Related Videos

Getting connected with LinkedIn - #2 - Making Connections on LinkedIn
Advanced Twitter Tips - #1 - Find popular Twitter users
Facts About The Lending Process
How to Avoid Peer Pressure on Campus
Are You Contributing to College Peer Pressure?
 

More "Entrepreneurialism" Related Articles

 
 

Listed below are more articles related to the above article from the "Entrepreneurialism" article category.

People interested in the above article "Peer to Peer Lending - Are You Looking to Start a Business" are also interested in the related articles listed below:

 
Financial Destinations (FDI) was founded in 2003 by William Andreoli .Most Multi Level marketing companies don't last their first two years in the business. This review was written to teach entrepreneurs how to be successful in Financial Destination (FDI). If you're serious about being prosperous in FDI read this review right now.
Many enthusiasts are convinced that social networking industry alone has the potential they were looking to make their fortune. They have many ideas and chase to lot of features to decorate their social networking sites. From a novice point of view some features are sufficient to meet the social networking software requirement. This could be true if there were no cut-through competition. Progressive social networking sites are akin to the latest development and live to the advanced features which move their members and cause them to stick their social network. A new-starter could not find it feasible to add latest features or update it social network over-night. What to say rules-of-game...
Technology is a big part of all our lives, and it has come to a point where we can't live without it. The basic fundamental of our modern technology is the microchip. As microchips have gotten smaller our technology has progressed. Just compare today's flat screen televisions and computer monitors to those a few years ago. We have become a culture that is very much dependant upon their technology and as the technology progresses and the microchips and circuit boards get smaller the more complex the layout and designs have to be.
If you are thinking of starting your own business and want to get funding from venture capitalists or angel investors, there are some important things to think about, to increase your chances of success.
Key note speaker for many companies, Mr. Jim Rohn , has inspired millions of people for many years. Would you believe that you also could inspire people, possibly in the millions. It is true. You have it in you. We all do. You may feel small and insignificant but with time you can work on yourself and create momentum. This momentum turns into a current and with time it is insurmountable with consistancy.
It's rare today for anyone to keep the same career for a lifetime. And since we're all living much longer than our parents' generation, many people at the traditional retirement age realize they still have many years ahead that they'd like to be productive, not to mention doing work they would love.
The massively successful entrepreneurs are ultra successful for a reason. They set their goals differently than those that do not enjoy ultimate success. Find out how changing one word in how you set your goals can make all the difference.
 
Article Directory Home All Categories Business Entrepreneurialism
 

Can't find what you're looking for? Try Google Search!
 
Copyright © 2005 - by Larry Lim, Singapore - Article Search Engine Directory at ArticleSphere.com™
All Rights Reserved Worldwide. All Trademarks and Servicemarks are the property of the respective owners.

Afrikaans Albanian Arabic Belarusian Bulgarian Catalan Chinese (Simplified) Chinese (Traditional) Croatian Czech Danish German English Estonian Filipino Finnish French Galician Greek Hebrew Hindi Hungarian Icelandic Indonesian Irish Italiano Japanese Korean Latvian Lithuanian Macedonian Malay Maltese Dutch Norwegian Persian Polish Portuguese Romanian Russian Serbian Slovak Slovenian Spanish Swahili Swedish Thai Turkish Ukrainian Vietnamese Welsh Yiddish