Zopa: Social Lending

Zopa: Social Lending
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A new(-ish) organization based in the UK called Zopa is allowing people to borrow and lend money from each other, entirely sidestepping banks. Because banks have huge overheads and are...

Jeff Squires
  • 7 may 2007

A new(-ish) organization based in the UK called Zopa is allowing people to borrow and lend money from each other, entirely sidestepping banks.  Because banks have huge overheads and are fundamentally in business to make money on your money, cutting them out all together allows social lending to give both lenders and borrowers better rates by eliminating the middle man and placing all transactions in an open marketplace, rather than behind closed doors.

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