SocietyOne Personal Loan Buying Guide, Prosper September Updates, Another Lender Opens EU Investing

SocietyOne’s Guide for Personal Loans

In this guide, SocietyOne takes prospective borrowers through a five step process towards understanding how best to obtain a personal loan online. The P2P lender from Australia gives a primer which includes:

  • Understanding options available (secured vs. unsecured; fixed vs. variable rates)
  • Understanding how to compare available loans online
  • Getting an idea of your own credit profile
  • Selecting a suitable loan term
  • The final step: applying for a personal loan

Read the full guide here.

Prosper’s September 2012 Investor Update

Prosper released their monthly investor update for September 2012. September was a good month for Prosper as they originated a record $15.8M in disbursements and was ranked #4 on Wall Street Journal’s Top 50 VC-backed companies as we previously reported.

In addition, they announced the new hire of Josh Tonderys as Chief Risk Officer, who was a Senior Director at Barclaycard US.

Read the investor update and Prosper’s views on fixed income here.

Isepankur Offers EU Investors Access to Estonian Debt

Following Fixurra’s lead, Isepankur has announced that it will allow EU investors to fund Estonian debt on its platform. Some brief numbers on the company:

  • Established in 2008; oldest p2p platform in Scandinavia
  • Investors have enjoyed returns of >19% since 2010
  • Net income of €118,804 on sales of €208,664 in 2011; profitable

Isepankur appears to use an auction model which allows investors to place bids offering interest rates to borrowers. Based on borrower’s loan listing settings, auctions on notes can close either when loans have been 100% funded or when an allotted time has expired.

One other interesting thing to note about the platform is that it offers what it calls private loans, in addition to personal loans. Private loans provides a secure means of making a loan contract between friendly “known” parties. Borrowers thus get to choose the funders.

Wiseclerk has two great posts on Isepankur here: