Poll

How should we call this 'thing'?

Peer-to-Peer Lending
Peer Lending
Marketplace Lending
Direct Lending
Something else (suggestions welcome)
Crowd Lending
Match Lending
Market Lending

Author Topic: A new name for 'Peer to Peer Lending'?  (Read 6094 times)

Emmanuel

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A new name for 'Peer to Peer Lending'?
« on: June 17, 2014, 07:20:18 PM »
Given the amount of institutional investors, the involvement of banks, etc... peer-to-peer lending may not be the best name to describe that industry anymore.
Granted, it won't change the fate of humanity, but I thought it would be nice if we could agree on a universal term.

Prosper still uses that term
Lending Club uses 'peer lending' but last time at the LendIt conference they said the term is outdated
Charles Moldow from Foundation proposed the term 'Marketplace lending'. While I like it, I'm afraid it's a bit too long to really catch up
At LendingRobot, we began using 'direct lending'.

So... any opinion???

Lovinglifestyle

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Re: A new name for 'Peer to Peer Lending'?
« Reply #1 on: June 17, 2014, 07:53:34 PM »
Of the four choices, I like Direct Lending best, but if Something Else comes along I might like that better.
So I can't vote.  How about another choice, for Direct Lending OR Something Else?

Emmanuel

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Re: A new name for 'Peer to Peer Lending'?
« Reply #2 on: June 17, 2014, 08:15:24 PM »
I suggest you vote for Direct Lending for the moment being then. When I created the survey I allowed voters to change their mind later...

rawraw

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Re: A new name for 'Peer to Peer Lending'?
« Reply #3 on: June 17, 2014, 08:46:42 PM »
I think direct lending is already used in a broader sense.

Emmanuel

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Re: A new name for 'Peer to Peer Lending'?
« Reply #4 on: June 17, 2014, 09:02:58 PM »
I think direct lending is already used in a broader sense.

I googled it, but did not find much, expect a definition on a small site, 'Direct lending involves the transfer of funds from the ultimate lender to the ultimate borrower, most often through a third party.' which is kind of accurate for peer to peer peer marketplace 'our' lending as well...

Fred

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Re: A new name for 'Peer to Peer Lending'?
« Reply #5 on: June 17, 2014, 09:27:22 PM »
I googled it, but did not find much, expect a definition on a small site, 'Direct lending involves the transfer of funds from the ultimate lender to the ultimate borrower, most often through a third party.' which is kind of accurate for peer to peer peer marketplace 'our' lending as well...

The definition is too broad to be meaningful. Besides, the existence of a third-party in the definition conflicts with the term 'direct'.

Per definition, the tri-party repo (http://en.wikipedia.org/wiki/Repo) is a direct lending as well, since there is a third-party entity in the agreement.

What's the criteria for being ultimate?  Does Bank of America (a business) borrowing money from the Fed (ultimate lender) constitute a direct lending?

PeerSocialLending

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Re: A new name for 'Peer to Peer Lending'?
« Reply #6 on: June 17, 2014, 09:51:09 PM »
As a retail investor it will always be somewhat peer to peer since I'm lending to others. However, as the game has changed - 'Marketplace Lending' makes more sense as I view Lending Club, Prosper etc. as marketplaces that bring together borrowers and lenders.  I have some other gripes like the hashtag #marketplacelending being too long and my poor choice in blog/website name :)
-Ryan
p2p lending blogger @ www.peersociallending.com

yojoakak

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Re: A new name for 'Peer to Peer Lending'?
« Reply #7 on: June 17, 2014, 10:23:44 PM »
Reminds me of the early-2000's when all the companies that had recently spent millions of dollars rebranding themselves as .com's spent millions of dollars rebranding themselves as whatever they were before.

How about just "Lending"?
« Last Edit: June 17, 2014, 10:26:00 PM by yojoakak »

lascott

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Re: A new name for 'Peer to Peer Lending'?
« Reply #8 on: June 18, 2014, 12:06:53 AM »
I think direct lending is already used in a broader sense.
I googled it, but did not find much, expect a definition on a small site, 'Direct lending involves the transfer of funds from the ultimate lender to the ultimate borrower, most often through a third party.' which is kind of accurate for peer to peer peer marketplace 'our' lending as well...
Try this google search as there are a lot of hits: ("direct lending" or "direct loan")
https://www.google.com/search?q=(%22direct+lending%22+or+%22direct+loan%22)

One example:
http://www.tgslc.org/borrowers/loans/federal/fdlp/
"Under the Federal Direct Loan Program (also known as "Direct Lending" or FDLP), the federal government rather than a bank or other financial institution makes a loan to help a student or parent pay the costs of the student's education beyond high school."
« Last Edit: June 19, 2014, 11:25:15 PM by lascott »
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rawraw

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Re: A new name for 'Peer to Peer Lending'?
« Reply #9 on: June 18, 2014, 06:34:08 AM »
"Indirect Lending" is a widely used term.  Direct lending is usually just used for the rest where someone is directly lending to another.

neals384

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Re: A new name for 'Peer to Peer Lending'?
« Reply #10 on: June 19, 2014, 03:16:56 PM »
"Crowd Lending"

Even if some loans are in a whole loan pool, the collection of all loans on a platform are funded by a Crowd.

Emmanuel

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Re: A new name for 'Peer to Peer Lending'?
« Reply #11 on: June 19, 2014, 10:39:49 PM »
"Crowd Lending"

Even if some loans are in a whole loan pool, the collection of all loans on a platform are funded by a Crowd.

Added!
('Match Lending', also)

Emmanuel

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Re: A new name for 'Peer to Peer Lending'?
« Reply #12 on: August 15, 2014, 01:02:07 PM »
A new proposal: 'market lending'.

Your take?

Jon

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Re: A new name for 'Peer to Peer Lending'?
« Reply #13 on: August 15, 2014, 03:10:19 PM »
Community Finance

Here's some advertising copy:

"Fire your bank.   Community finance is more efficient.  Also, we'll will never try to sell you an Annuity or  an upgraded checking account."

-Jon