Quote Originally Posted by icyfire View Post
A NZ P2P update, today.

http://www.interest.co.nz/personal-f...ding-platforms

Pretty much all the user comments on the above article reflect my thinking.
Standout quote "Harmoney attracts a low calibre of borrowers and its growth has come from it trawling rather than fishing for loans"
Err, that is a complete misquote!

The writer clearly hasn't researched non-NZ P2P lending to get an understanding of how it has fared in a downturn.

Many borrowers turn to P2P lending because it's cheaper than banks! Sure Harmoney also cater for lower calibre borrowers, but the interest rate reflects that! I don't think they try to say otherwise? It is the lenders choice. If you look at the data provided by Harmoney, there lending profile is improving, not getting worse as many suggest here - I suspect they just don't understand the graphs etc. provided and perhaps shouldn't be investing in P2P because they don't understand it well enough and draw very wrong conclusions.

I don't understand why people who see Harmoney as such a bad model invest in it! Hypocrisy?