Pertuity Direct Review

by Andy Hough on April 13, 2009

There is now another option in the peer-to-peer lending market besides Lending Club.
Pertuity Direct is an online social finance company that brings lenders and borrowers together, taking expensive banks out of the middle, to deliver great rates. They offer competitive products in an easy, straightforward online process.

Borrowers get low, fixed interest rates that are much lower than what they would typically get at traditional banks. Pertuity Direct currently requires a minimum credit score of 660 to be considered for approval (U.S. residents only). These loans are a great option for replacing/consolidating expensive credit card debt, paying for home improvements, getting cash for a small business, paying for school, weddings, and other expenses.

Borrowers apply online and immediately get an approval decision and their loan rate – no waiting on bidding to get funded, and no privacy concerns since we keep all credit history information private.

For lenders, there are no qualification requirements (some other sites require minimum income and asset levels) – they simply sign up online. Lenders earn returns off of the interest paid by borrowers and invest in loans through an SEC-registered mutual fund. Lender money is automatically diversified among multiple borrowers (without the need to comb through thousands of loan listings) and funds are available for withdrawal on a quarterly basis.

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