FREQUENTLY ASKED QUESTIONS

ABOUT THE COMPANY COMPARELEND.COM

CompareLend.com is the first US and European peer-to-peer lending marketplace comparison service. Our goal is to help our users make the most of the new loan-economy opportunities worldwide, thanks to wider access to lending platforms at lower costs.
We are a FinTech company, created to answer the challenges of a new connected economy: more transparent, more direct and reconnected to the real economy.
Our main purpose is to help lenders and borrowers make the more out of the peer-to-peer lending market. We want to give our users an unbiased, free and transparent access to all the lending and investing possibilities that will help them achieving their personal goals, expanding their businesses or helping others do so. And this, under the best conditions possible.
CompareLend.com connects lenders’ and borrowers’ needs on one side, to peer-to-peer lending platforms solutions on the other. With our easy and free comparison tool, you will find the deal you are looking for in only 3 easy steps.
You can start straight away: just enter your criteria, compare offers in real time and pick the best deal. Note that CompareLend.com does not provide a lending or borrowing service. After your comparison process you will be redirected to the website of the platform you have selected.
  • I want to become a partner (platforms)

Please refer to our Partners section on our website. Should you have any additional enquiries, go to {http://partners.comparelend.com/#contactus}

  • I don’t understand the process

Please refer to the {“How it works”}, our {FAQ} or our {Glossary} pages first. If you still have questions left, we will be very happy to answer them, through this {contact form}

  • I am a journalist, I need a press contact

Please send un an email at [email protected] we will get back to you as soon as possible.

  • I would like to work with you

That is great! We are constantly looking for new talents. Please send us un email at [email protected] with your CV and a short motivational text. We will answer shortly.  

THE WEBSITE COMPARELEND.COM

Using our comprehensive comparison tool will help you:
  • Save money: getting the best rate on the peer-to-peer market according to your personal needs and plans
  • Save time: through an instant overview of the peer-to-peer lending platforms in only one place
  • Use an alternative system to borrow and lend money: avoiding classic banking system constraints and fees
  • Regain control over your finances: through a more transparent, conscious and real economy circuit, you can become your own bank
  • Find new investment opportunities: through our efficient set of {tools}
Our comparator will help you finding the best solution whether you are an individual or a business owner. {Click here} for more information if you are a business owner.
You have to be at least 18 years old to use CompareLend.com’s services, this limit can nevertheless evolve depending on your country of residence. Moreover, you should always check the Terms of Use of the chosen platform prior to engaging in any financial activity, because of specific regulations that may occur.
Yes, if you are a borrower or an investor, using CompareLend.com is totally free.
We select our peer-to-peer marketplaces according to their reliability, performance localization, and financial products in order to give you the best of the peer-to-peer lending market.
Referencing peer-to-peer platforms worldwide is, as you can imagine, taking us a certain amount of time. If you would like to compare generalist or niche platforms you have been using, and cannot find on our website, don’t hesitate to {contact} us, we will be very happy to add them to our partners list!
No, our sole purpose is to offer our users a comparison tool of existing public peer-to-peer marketplaces. That is what gives us the possibility to be totally transparent and unbiased, giving you access to the best of the peer-to-peer lending market.
We are doing our best to provide you with the most secure online service possible, as we know your financial records are sensitive documents. You will find all the specific information in our {Terms of Use & Policy} section.
In order to help you make the more out of the peer-to-peer lending market, we have created a set of free, comprehensive and practical tools.
Comparison Engine
Our comparator does the comparison according to indicated (ou your) criteria in few seconds. We try to give you the best deals and results depending of your search.

Newsletter
Receive a weekly overview of what happened on the peer-to-peer lending market by simply {providing us} with your email address. Note that if you have a CompareLend.com Account, you are automatically added to our subscriber’s list. Don’t worry, you can {unsubscribe} anytime.

Alerts
You want to get real time information investments opportunities? Subscribe to our Alerts in your {Account}, section Alerts, and choose the form and frequency that best suits your needs. You can change the settings or cancel your Alerts anytime you need in the Alerts section of your Account.

Guide
If you want to learn more about the peer-to-peer lending, its benefits, limitations, etc. or if you are simply curious about this emerging side of the economy, you can read our {Guide}, created for those who want to go a step further. It is also available to be uploaded in pdf.
Using CompareLend.com will give you access to a multitude of peer-to-peer lending platforms at once. Through an easy 3 steps process, you can easily define your needs and plans, compare offers available on the peer-to-peer lending market and apply online. As we see it, comparison is key to get a loan or an investment easier, faster and cheaper.
No, no matter how often you check your credit score its level will not change. Learn more {here}.
Have you checked our {Glossary}? It could help! Still nothing? Please contact us directly by email [email protected], we will be very happy to assist you.

THE PEER TO PEER LENDING

Peer-to-peer lending, also known as P2P lending or crowdlending, is a new debt financing method emerged with the development of the Internet. Its main characteristic is the disintermediation, which means that two absolutely unrelated people, “peers”, have the possibility to lend or borrow money from each other, generally going through an online platform.
The peer-to-peer lending works pretty much in the same way as classic lending, with the rates, monthly payments and risk taking. The fundamental difference is that no traditional financial intermediary is involved in the process. Generally, borrowers’ needs and lenders’ resources meet through an online platform, giving the users an easier access to credit on lower rates and risk-adjusted returns on investments.
Major benefits are linked to the direct relation between a lender and a borrower. Not going through a financial intermediary, gives more flexibility and transparency to the whole process. It will be definitely cheaper, as less fees are imposed and the interest rates are lower as a rule. Easier, because the access to a whole market of lenders will increase the chance to get a loan, even if one’s credit history is not perfect. Time saving also: it will generally take less time to get approved and to also to get the money. Finally, lenders can often choose what projects they are investing in which gives them more visibility on where their money goes in real life.
The risks linked to peer-to-peer lending are very similar to ones in the classic lending process. The major risk being that a borrower will be unable to secure its monthly repayments. More often than not the risks are linked to the investment strategy one chooses and that have direct influence on returns. As the lent money transfers happen outside of a traditional circuit, they are not covered by the Financial Services Compensation Scheme.
Currently, the interests earned through peer-to-peer lending are taxed on the same level as income-tax rates.

BORROW THROUGH A P2P PLATFORM

For the borrower there are 3 major benefits:

  • Simplicity: it is easier to get a loan through an online platform, because unlike going through an official financial institution, fewer constraints are imposed by the lenders: credit history, purpose of the loan, etc. get accepted or rejected by the lenders, according to their risk management strategies.
  • Money saving: for 2 reasons: the cost of borrowing is always lower than in a bank and generally, no additional fees are imposed upon a borrower, such us application fee, processing fee, etc. as the whole process happens on line.
  • Time saving: it is quicker to get approved, having access to a huge pool of lenders, and quicker to get funds, generally between one and three weeks.
Note that using a peer-to-peer lending platform you will not pay the usual bank fees (application fee or processing fee) and that the interest rate will be lower than in traditional institutions. However, the amount you will pay precisely getting your loan, will depend on the interest rates set by the platform you have chosen to use. Please check systematically the Terms of use of each platform you intend to borrow through.
You can borrow money through peer-to-peer lending as an individual or a company. If you are an individual, you will have to be at least 18 years old. Specific rules may apply depending on your country of residence and on the platform you chose to use. Read carefully the Terms of use of the platform you chose to borrow through.
It depends on your country of residence. If you live in the US, you will only be able to borrow in the US. If you live in the European Union, you will have access to all the lending markets of other European countries. Check the Terms of use of the platform you are borrowing with to get all necessary information about cross-border lending.

LEND THROUGH A P2P PLATFORM

One can point out three main advantages of lending disintermediation, the main advantage will be getting higher returns on investment. As a rule, return rates are higher on all types of loans in comparison to traditional forms of investing. Higher returns, it goes without saying, come with higher risks. Still, having access to a large quantity of borrowers gives the lenders the possibility to diversify their loans between more or less risky borrowers. Moreover, platforms offer lenders the option to purchase the loan in several parts, diversifying even more. And last but not least, the transparency of the process is interesting, as every borrower expresses clearly what the money will be used to. And so, if a lender prefers supporting a small business rather than a personal loan he will choose the loans accordingly.
Note that using a peer-to-peer lending platform you will automatically obtain higher rate on return than investing through traditional institutions. However, the exact amount of investment return you will get, will depend on the interest rates set by the platform you have chosen to use. Please check systematically the Terms of use of each platform you intend to invest through.
You can lend money through peer-to-peer lending as an individual or a company. If you are an individual, you will have to be at least 18 years old. Specific rules may apply depending on your country of residence and on the platform you chose to use. Read carefully the Terms of use of the platform you chose to invest through.
It depends on your country of residence. If you live in the US, you will only be able to lend in the US. If you live in the European Union, you will have access to all the lending markets of other European countries. Check the Terms of use of the platform you are lending with to get all necessary information about cross-border lending.

FINANCE A BUSINESS THROUGH A P2P PLATFORM

Yes you can and it will probably be a very profitable way to get financed. The majority of lending platforms will lend you money if you are an LLP or a Limited company. Please check systematically the Terms of use of each platform you intend to invest through, as they may vary significantly.
If you own a small business, you probably know how complicated it is to get a business loan through traditional circuits. Through peer to peer lending however, some barrier to entry are suppressed. First of all, the requirements are lower investors being open to risk taking, and so securing a loan is easier, faster and cheaper. The process being entirely on line and very user friendly, it takes not more than 20 minutes to register on the platform, approximatively 48 hours to get accepted, and up to 3 weeks to receive the money. The interest rates are lower and usually no hidden fees added. Moreover, the online investors are welcoming for new borrowers as they are rather eager to support business owners, often locally.
CompareLend.com offers business owners a free, unbiased and immediate access to investors on peer-to-peer platforms. It helps business owners to choose the best financing opportunity from what the market has to offer. Getting financed is then easier, cheaper and faster.
Using the peer-to-peer lending market will not only give you the opportunity to help small business owners grow and reach their goals, but also profit from very interesting return rates.
It will depend on the platform you have chosen to invest with. Please check systematically the Terms of use of each platform you intend to invest through, as they may vary.
Every peer-to-peer platform reviews borrowers before posting their loan application online, you should check their Terms of use before lending money if you need to be reassured. One should note though, higher the return on investment, higher the risk a lender is taking.