Lending Club
This lending site works more like Match.com (Stock Quote: IACI), hooking up borrowers and lenders based on certain financial criteria like how much debt the borrower wants to take on and how much financial risk the lender can stomach. The site refers to itself as a social lending network, and to that end has even started integrating itself on Facebook. Lending Club's current average rate performance is roughly 9%. Though, just like Prosper, there’s no guarantee. There are fees here, too. Borrowers pay a processing fee of up to 2%, based on credit grade, on top of possible missed-payment or late fees.  Meantime, lenders must pay an annual processing fee of 1%, in addition to collection-agency fees, when applicable.

Kiva
Kiva is an online small business micro-financer that vows to help fight poverty in developing countries where residents have little to no access to debt financing. Micro-financing channels like Kiva empower budding entrepreneurs across the world and offer lenders a way to be actively charitable. Lenders "can actually see the person they are lending to. There's a personal connection," says Kiva spokesperson Fiona Ramsey. Each loan at Kiva has a different term. On average, repayment to the lender is made within 12 months. You can lend as little as $25, though the average loan is about $500. There’s no interest.

Microplace
Microplace is Ebay’s way of competing with Kiva. The site says lenders can invest with just $20 by opening an investment account somewhere, say, Schwab or Fidelity.  Interest is not that high, maybe 1 to 3% on your investment, according to the web site.  But the assumption is that, much like at Kiva, you want to make a social impact, not big bucks on your loan.

 

 

 

—For the best rates on CDs, mortgages, savings, credit cards and more, enter your ZIP code at BankingMyWay.com.