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In the past, if an individual needed a loan for school or to buy a home, he or she would have to go through the bank or another type of financial institution to receive the amount required. Lately, a peer to peer lending site has emerged onto the scene that provides its users with the unique ability to borrow money through Internet networking with friends and family. This social lending system offers its clients the advantage of having access to the tools necessary to create a formal and professionally presented lending proposal, and the ability to tastefully ask friends and family for a loan. There is also a chance that a good-natured lender will randomly select the user's proposal and help. This approach to borrowing and lending is merging social networking and borrowing money in a beneficial way to anyone who has ever needed a loan to move forward. The Benefits of Peer to Peer Lending Sites 1. Access to the Proposal Tool Any individual who is looking for a loan can skip the trip to the bank and find their lender online through a personal connection. This offers the advantage of negotiating an interest rate and payback schedule that is fair and beneficial to both parties. This also provides the borrower with a loan from someone he or she trusts, and who wants to see the borrower succeed and do well, with their support. Social lending sites make it easy to get started with a loan calculator, to figure out how long it would take to pay back a loan, and a loan listing tool. This application provides the template to easily build a formal proposal. The proposal is promoted through invitation to friends and family on social networking sites, such as Facebook. 2. Ask for a Loan Easily and Politely This approach lets the borrower ask friends and family for a loan without the pressure and obligation of being contacted directly. This way, the borrower can be sure that his or her lender wants to lend money, and doesn't feel pressured in any way. Invitations can be sent out through email, Facebook, Twitter and MySpace to guarantee that anyone the borrower wants to ask will be able to see the formal proposal through the system. 3. Strangers can Offer Loans Too Social lending sites are not all about loans from friends and family. Any individual can register with the site. This is a great way to promote a sense of community and generosity over the Internet, and to help others get to where they want to be in life, whether they need a loan for college or money to pay off a debt. How to Apply with WikiLoan Peer to peer lending sites such as WikiLoan are easy to get started on. Simply fill out the formal loan proposal and begin promoting. Visit, Wikiloan. WikiLoan is a leading Peer-to-Peer lending platform in the United States with 100% proprietary technology built from the ground up. Peer to peer lending sites such as WikiLoan are easy to get started on. For more information visit www.wikiloan.com.
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Peer to peer lending sites, Peer to Peer Loans, Online Lending Companies, Online Loan Companies, Social lending,
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