Zopa is a new form of borrowing and lending. Instead of individuals going to a l0an provider such as a bank, building society or any other unsecured lender they are able to use Zopa which matches borrowers directly with lenders using an online electronic platform.
The lenders are real people, individuals as opposed to loan companies who are looking for a better return on their money than leaving it in the bank.
For the borrower it is great as they can put directly into Zopa how much they are willing to pay for a loan.
Zopa is gaining an increasing reputation for innovation
There are different bandings of borrowers. These vary from those with an unblemished credit score who would expect to borrow the money at a low rate of return all the way up to those who have a bad credit history and would expect to borrow at an interest rate that is double figures.
Zopa has not been around a long time and is starting to gain an incresing following as well as a reputation for innovation and flexibility.
For more information about Zopa please visit their website. For more information about all types of unsecured lending including credit cards, payday loans, doorstep loans and personal loans please feel free to continue navigating our site.
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Zopa is a phenomenon like Prosper in the United States. I can see this trend continuing to grow. With people reluctant to turn to payday lenders there must be somewhere to turn if you cannot turn to your friends and family.