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YadYap – P2P Payday Loans?

The idea has not fully soaked into my brain yet, but I had a commenter from YadYap:

The first peer-to-peer (P2P) marketplace engineered for payday and short-term loans.

I do not question the niche, as it is an insanely profitable niche. The P2P aspect makes me a little uncomfortable from a lender’s perspective. Payday loans have got to be insanely risky – ah ha – to match the insane profits. The other P2P lending platforms like Lending Club and Prosper have also had to go through an SEC filing process. I wonder if YadYap has started the process. It does sound interesting and I plan on keeping an eye on them. The main YadYap page is thin on details, but there is a YadYap blog with more information.

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This entry was posted on Monday, November 3rd, 2008 at 7:51 pm and is filed under P2P Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.





  • http://www.checkcity.com Payday Loans

    You are right in that there will always be a niche for payday lenders. If you borrow only what you need to cover unexpected events then it is not insane nor scary. You will only have borrowed money for a short time thereby making the APR unapliccable.

  • http://www.checkngo.com Emily Winkle

    One suggestion I have for people thinking about taking out a payday loan is to make sure there is a physical address for the company. This is just one small step they can take to make sure they aren’t taken advantage of. I work with Check ‘n Go and they have both physical stores and you can take out a payday loan online. Visit http://www.checkngo.com for more information.

  • http://www.kwik-loan.com/ Jim H

    My company builds software for consumer finance companies and payday lending has been a large portion of our business. Because of the forthcoming changes in the payday loan industry (that seem to be inevitable) we are helping companies change their lending strategy. To find out more visit http://www.kwik-loan.com/about/payday-lending-laws.php.

  • rose

    For most people borrowing money is not the way they would choose to go IF they had a choice; for people with bad credit it’s a double nightmare.It can require a great deal of paperwork and turn into an embarrassing situation. Thus, consumers prefer payday loans to face small, unanticipated expenses while avoiding costly bounced-check fees and overdue payment penalties.

  • http://www.creditloan.com/payday-loans/ payday loans

    P2P loans is an interesting concept. I'll definitely keep an eye on this too.

  • http://www.creditloan.com/payday-loans/ payday loans

    P2P loans is an interesting concept. I'll definitely keep an eye on this too.

  • http://www.paydayloanonlinecash.net/ payday loans

    Good post overall. Enjoyed reading it.