Although BizzFlip is not directly in the business of Peer to Peer lending or simply P2P, they are in the business of niche market classifieds, making it their priority to provide listing categories that promote the expansion of a rapidly growing web-centric business world. Peer Lending sites like Zopa, Prosper, Kiva.org, and Lending Club support the growing transaction model that sidesteps traditional intermediaries such as banks. The viability of the model was reinforced by Ebay's acquiring of Microplace back in 2006 and continues to prove to be a niche industry on the rise.
P2P lending allows everyday people, many of them without collateral, to receive loans from other everyday people wishing to lend. Lenders compete with other lenders to make loans resulting in better rates for borrowers.
According to analysts, Americans make 6.1 million friends-and-family loans for more than $89 billion each year. The market obviously exists and is becoming increasingly more popular with an increased mistrust of financial institutions by consumers.
"As more and more people open up to P2P lending, we will provide individuals with a place to promote the transactions people seek to take part in, both as borrowers and lenders" mentions Forrest Kolb, CEO of BizzFlip.
BizzFlip has added a Peer to Peer Lending section appropriately under their BizzPersonals posting category, hoping to add value to the emerging P2P industry as well as their business classifieds community.
Launched in May 2007, BizzFlip (BizzFlip.com) is a place for people to freely conduct business, cultivate ideas, and explore the infinite potential of today’s business world. BizzFlip features free business classifieds via the collaboration of professionals worldwide.