Tuesday, June 14, 2011

Need to borrow some money? Give a try to Zopa

Zopa was launched at the end of 2005 by the young management team who had helped to found the internet bank Egg. With the credit crunch investors are putting money in Zopa, and borrowers offered expensive rates, or turned away by the banks are getting approved for loans. In 2011 so far Zopa are funding over a £1 million to loan applications each week, at market leading rates.
Zopa has now got over 500,000 members, and has funded over £100 million of borrowing applications, with £48 million loaned in the last 12 months alone.