Property News · February 15, 2014

Quakle collapse serves as warning to peer-to-peer investors


The collapse of one peer-to-peer website a couple of years ago is a salutory reminder that the industry is exposed• Is peer-to-peer lending too good to be true?• Profiled: the major peer-to-peer lendersIt was the peer-to-peer website “for community-minded people” who wanted to lend money to each other in a “friendly and structured way”.But, as Quakle discovered to its cost, there are no friends in business. The business collapsed within a year of its launch – brought down, it is understood, by the fact it accepted too many poor-quality borrowers. Continue reading…

Source : theguardian.com
Read more…Quakle collapse serves as warning to peer-to-peer investors

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