P2P lending arrives down under

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If the current sub-prime lending crisis in the US and the UK proves anything, it’s that even traditional lenders can act irresponsibly, despite the myriad government regulations designed to hold them in check. That sobering fact, together with the tightening liquidity and a possible upcoming recession, should give a boost to so-called peer-to-peer lending. For the uninitiated, P2P lending websites directly match borrowers seeking relatively small amounts of cash with private individuals willing to lend them the money. Borrowers post their needs, lenders make offers and everyone benefits from bypassing lending’s traditional middlemen who package loans for a fee. We…

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