Archive for April, 2009
On a Quest for Social Lending
Posted by admin in Innovation, Peer-to-Peer Lending on April 16th, 2009
Great post about Social Lending from the blog Shotguns and Penguins:
Shotguns and Penguins: On a Quest for Social Lending
YadYap is on the list. Check out their post, it’s a good one.
FDIC: Payday Loans a Superior Form of Short Term Credit
Posted by admin in Payday Industry News, Underserved Borrower on April 16th, 2009
Image via Wikipedia
FDIC: Payday Loans a Superior Form of Short Term Credit — Seeking Alpha
The November 2008 FDIC Study of Bank Overdraft Programs (ODP) proves beyond the shadow of a doubt what we’ve known all along: payday loans are a much cheaper short-term credit alternative than bank overdraft protection programs.
They go on to state the following conclusive points:
You can bounce a check for $60 and get charged $27 in NSF fees by your bank, or you can take out a $60 payday loan for $9.
Not even the ideologues can counter this argument. Simple fact. Right there in black and white. Just read the entire report yourself.
What do you think about the conclusions of the FDIC report?
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Transcapitalist - Journal - YadYap hopes to offer a p2p alternative to payday loan market
Posted by admin in Innovation, P2P Payday Loans, Payday Borrower, Peer-to-Peer Lending, Underserved Borrower on April 13th, 2009
Check out transcapitalist.com. They have a great write up about YadYap.
Transcapitalist - Journal - Yadyap hopes to offer a p2p alternative to payday loan market
Thank you to transcapitalist.com again for the great post.
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