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The Baltic states of Estonia, Latvia, and Lithuania are becoming a hotbed for European fintech companies. Latvia’s latest entrant in the p2p lending market is VIAINVEST . VIAINVEST has some great features and an easy website to navigate. Let’s check out a couple of the benefits they offer on their platform for you as an investor.
Hold Some, Sell Some
As someone Click Here To Continue
2016 was a tumultuous year in p2plending. Maybe it's related to growing pains or maybe to something else entirely. The industry definitely took its bumps. Let's look at some of the major trends in marketplace lending over the course of this year.
Lending Club's Issues
Founder and former CEO Renaud LaPlanche was the biggest story in p2p lending this year with the fraudulent loan sale that led to his departure from the company. Other top execs have left, most notably the CFO and the Chief Marketing Click Here To Continue
Bitcoin is Confusing
Bitcoin is hard for many people to understand. The difficulty makes sense when you think about it as it is both a currency and a payment/transaction system among other things. We don’t talk about Cash and the Mastercard/Visa network like they are the same because they aren’t even though you use both cash and credit cards to pay for things. Bitcoin has terms thrown around in it like digital money, cryptocurrency, proof of stake and consensus that can be tough for non-technologists Click Here To Continue
Leading Bitcoin based p2p lending platform BitLendingClub is going to close its doors.
In an announcement sent out to all lenders and borrowers this morning, the company said that 'regulatory pressures' made operating the company no longer feasible. The specific regulations are not stated although its likely that its related to FinCEN and the MSB (Money Service Business) requirement placed on some Bitcoin companies. Regulations regarding BTC are confusing to say the least with FinCEN/Dept of Treasury, Click Here To Continue
The industry bellweather Lending Club announced its earnings this morning before the opening bell of the stock market for the week. The consensus of 6 analysts that cover the stock, according to Zacks Investment Research is an EPS (earnings per share) of -$0.10.
Let's see how they actually did.
By now you know about what happened with LC this summer, the management shakeup, the loss of confidence in the platform (which we hoped was temporary) and the appointment of Scott Sanborn as new CEO. Click Here To Continue
I know I've been a slacker about some of these updates and its my bad.
I'm trying to jump back on the horse here and will update my Bitcoin AutoInvest results.
First, let's see the actual chart from my BitLendingClub calendar.
Did you notice that Loanbase and BitLendingClub split off from each other?
Loanbase is now a business lending platform to businesses in Latin America while its Bitcoin lending operations are back at BitLendingClub.
Now that we know where to go to find our info, Click Here To Continue
As retail investors we often have fewer options than accredited or institutional and professional investors when it comes to p2p lending.
And sometimes it really sucks.
However, the amendment to SEC Regulation A, known as Reg A+ means there are additional investing options for us little guys (and gals). Reg A+ eased the crowdfunding rules allowing more investors into early stage investments in companies and some marketplace platforms are taking advantage of it in some cool and interesting ways.
Today Click Here To Continue
The best lending platforms have a win/win or win/win/win scenario built into them from the beginning. Prosper lets borrowers consolidate credit card debt. Instead of paying 16% to these credit card issuers they pay 7 or 8% to us. Prosper wins by originating the loan. Borrower wins by saving 800 basis points interest. Us lenders win by earning the 7-8% in interest. This type of win/win/win guides the best platforms.
More platforms are coming online and more are available for retail investors Click Here To Continue
Marketplace lenders (MPL) are compared to banks cause they issue and service loans like banks do. Some in and out of banking refer to our sector as 'Shadow Banking', a term I hate cause it implies there's something shady, not fully legal or compliant or just not right about what our sector does when none of those things are true.
Not only are peer lenders not shadow bankers, they are far more transparent with their practices and data than any bank I have ever seen anywhere.
The bankers who Click Here To Continue