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Money

Friend, Can You Spare a Dime?

With tight markets, peer-to-peer borrowing rises.

With bankers holding on to their limited capital for dear life, borrowers are increasingly looking to less-traditional sources for cash. The Washington Post reports Sunday that a leading source of loans these days has become other people, as peer-to-peer lending gains in popularity. The Post reports that about $282 million was given in peer-to-peer lending in 2006. By 2010, analysts expect that number to grow to $5.8 billion. “It offers a viable option for folks who are getting turned down for credit elsewhere,” one industry expert says.

Read it at The Washington Post

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