Posts Tagged ‘Financing’
Peer-to-Peer Lending Pain (Business Week)
April 8th, 2009 | 
Author: I just finished reading this at www.businessweek.com, while I like the Prosper.com idea the risk of unsecured lending to strangers seems to great for the private investor. We believe investors should focus on their local communities and reduce risk by holding title to physical collateral, that is what floor plan financing is all about.
Excerpt,
Once seen as the future of financing for entrepreneurs, the social-networking approach has suffered from high defaults
By Amy Barrett
It has been a year of setbacks for peer-to-peer lenders such as Prosper, Lending Club, and Zopa, which use the Web to connect those who need a loan with individuals willing to act as lenders. Once positioned to become an alternative financing spigot for entrepreneurs, the nascent industry has been hit by regulatory issues, a slow economy, and a slew of defaults.
Read the full story here www.businessweek.com
Posted in Investor News | 
Tags: entrepreneurs, Financing, Peer to Peer Lending, Prosper | 
1 Comment »
Credit is Available! (NADA)
Credit is Available!
The tight credit market has left many car buyers worried about whether they will be able to finance their purchase. After all, more than 90 percent of new-car purchases are financed. While the current economic troubles have affected many sectors, consumers should know that credit is available in the automotive sales industry.
“It may be a tough time for business, but it’s a great time for consumers who have a stable job and solid credit scores,” said NADA’s 2009 chairman, John P. McEleney. “There are plenty of incentives that lower costs. Dealers can help find financing. And the quality of today’s vehicles is the best ever.”
Auto sales account for $690 billion of U.S. retail sales, which is about 20 percent of all retail sales in the country.
“Most people have heard the expression, ‘All politics is local.’ The same is true of credit. All credit is local,” McEleney said. “The fact is local dealers have access to multiple sources of financing, including many community banks and credit unions that have plenty of money to lend.”
Source www.NADA.org
