I hope you really like to hear about peer-to-peer lending news. Earlier today, I wrote about how Lending Club opened for business again and just before Prosper died (not in the traditional sense, just closed it’s doors for a potentially “several months” while it passes a few steps with the SEC).
However, I really wanted to write about Zopa US dying. I know I’ve been fast and loose with the “[insert peer-to-peer company] dying” phrase in the past, but this is truly the case this time. Zopa US has officially announced that it’s closing it’s doors.
I’ve said it before and I’ll say it again, Zopa wasn’t a pure peer-to-peer lending company. Sure you could buy a CD and offer to help out complete strangers. I don’t know why’d you’d do that when you could buy a CD from a local credit union and help someone in your community.
It looks like my experiment to get a negative interest rate at Zopa has come to a close. It didn’t work anyway. I’d like to give a big thanks to Prosper Lending Review for passing on the tip, since I hadn’t been following them very closely.
It was crazy to me that they closed just days after I attempted to get a loan through their site after ignoring them on my blog for almost a year.