ZOPA LOANS 

Here is the idea from zopa.co.uk and zopa.com that is set to revolutionise the way we borrow money in the future.

When we earn money we automatically put it to rest in our bank accounts to gain a measly amount of interest, feeling content that the rate we have is the best available. The high street bank will then use YOUR money to lend to those of us that need a loan and have to borrow money. But what have we here from Zopa?

Zopa have created a world without a bank where the person that needs money for a loan applies directly to the person with the money, genius. No bank in the middle taking thier cut, charging for thier huge costs of administration.

With Zopa in order to minimise the lender's risk the equity of the loan is spread over at least 50 borrowers. Each borrower also gets their money from a quantity of different lenders to minimise the risk of each participant again.

The membership driven style of Zopa has been likened to ebay. As Zopa's members grow, so will it's strength, the community based environment will appeal to the internet based communities all over the world.

Zopa loans are designed to provide better rates for trustworthy people with reasonable credit ratings, although Zopa's system picks up many more loan applicant applications than most bank credit rating systems.

Specialising in loans for those who have an inconsistent but sufficient income. Those people who are self-employed for example.