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Peer Lending for Entrepreneurs

Person-to-person lending can score the cash your business needs.

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This story appears in the February 2010 issue of Entrepreneur. Subscribe »

If your banks aren't showing the credit love lately and you don't have a wealthy friend or uncle in the ranks, there still may be hope. Curtis Arnold, founder of CardRatings.com and co-author of The Complete Idiot's Guide to Person-to-Person Lending, says person-to-person, sometimes called peer-to-peer, or P2P, lending, has taken off and may provide options for cash-strapped businesses.

Prosper.com

Offers: Fully amortized 3-year unsecured personal loans

Limit<:/strong> $25,000

Other: Minimum credit score of 640 Fixed interest rates



Lending Club.com

Offers: 3-year unsecured personal loans $25,000

Limit: $25,000

Other: Minimum credit score of 660

Fixed interest rates

Allows up to two loans



Peer-Lend.com

Offers: Loan terms vary

Limit: $100,000

Other: No minimum credit score

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