Perfect storm for P2P lending

Lending Club CEO Renaud Laplanche told The Kansas City Star the peer-to-peer lending industry is being aided by something of a perfect storm in the consumer finance industry.

“On the borrower side, banks are tightening the money supply,” he said. “On the lender side, the stock market isn’t performing well.”

Read more: Online loan sites bank on social networking
Related: Prosper Lending Review: P2P lending in a credit storm