Karrot, Kabbage and Upstart

MoneyTips

Peer-to-peer lending, or P2P, has continued to grow in popularity as banks become a less attractive option for smaller businesses or consumers looking for mid-range to lower-level loans.

We discussed two of the best-known alternatives for personal loans (Lending Club and Prosper) in a previous article, but let’s take a look at a few of the choices that have sprung up to meet particular lending niches.

  • Upstart – Upstart is another crowdfunding venture for personal loans, but their emphasis is on those who may not have established enough of a credit history to get a traditional bank loan. Their analytical software assesses risk by taking into account factors such as your schooling (where you attended, your field of study and academic performance) as well as your employment history.

    Once your record is assessed, you are given a Loan Grade similar to bond ra…

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