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Lending Club, Kiva and Microplace Videos Illustrate How Peer Lending Works

If a picture is worth a thousand words, is a video worth an hundred thousand? a million? a billion words? According to 3 companies leading the world of on-line peer lending and microfinance, a video is worth, well, millions of dollars in loans issued.

Lending Club, Kiva and Microplace led the discussion at Microfinance USA 2010 last week to discuss the rapid growth of peer lending in the US.  Combined, these 3 companies have issued more than $350,000,000 in loans to individuals through personal and small business loans. In a time when banks have tightened their lending and even those with good credit history or business success potential can’t seem to get a loan, this is remarkable.

These 3 videos show how Lending Club, Kiva, and Microplace work. Enjoy!

Lending Club: Peer-to-peer Personal Loans Can Save You Money, by ABC News

Kiva: A Fistful Of Dollars: The Story of a Kiva.org Loan, by Kieran Ball

Microplace: The World of Micro-Loans, by CBS News

If you attended Microfinance USA 2010, use the code “MicrofinanceUSA” or this link to get $50 to fund your first 2 loans on LendingClub.com

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