Lending Club, Kiva, and Microplace Discuss The Rise of Peer-to-Peer Lending in the US
This afternoon, executives from three fast-growing companies and proponents of micro and peer-to-peer lending will sit together on the panel entitled “The Rise of Peer-to-Peer Lending in the US”, as part of the Microfinance USA 2010 conference, organized by California-based Opportunity Fund.
According to Ed Kountz, a consumer payments analyst from market research firm Forrester Research Inc., the Peer-to-peer lending industry can grow to $100 billion in annual loans in 2012 from about $500 million last year (2009) as borrowers seek ways to reduce their costs and get access to money while banks continue to show tight lending behavior during the deepest U.S. recession since World War II.
Giovanna Masci (Kiva), Paul Blyth (Microplace) and Rob Garcia (Lending Club) will discuss the fast growth and adoption of their respective solutions in the last year, as well as how their firms are harnessing the power of P2P and online marketplaces to challenge the centuries old banking and lending industry.
Peer investing and micro lending have become clear alternatives that complement and replace traditional bank loans, transforming the ways Americans lend to and borrow from each other. While their purposes and models differ, these firms demonstrate a burgeoning alternative to traditional notions of financing and philanthropy. Liz Hamburg, Founder and President of Upstart Ventures, will moderate a conversation that promises to alter the way you think of this space.
See you there.
Thursday, May 20th, 2010 at 1:18 pm