If you are facing tough times or maybe your credit has been maxed out but the perfect business opportunity has landed at your feet. You can get in to the trouble of medical overextended credit bills or worse like falling behind on your monthly obligations as a result of being laid off at work. There may be alternative for you if you are facing difficulties with getting a loan from your bank. The sites listed below are sites that allow you to borrow money from total strangers without the harsh credit requirements of big lenders.

Funding Circle

Funding Circle is a peer-to-peer platform and they offer loans to individuals who need the cash strictly for the purpose of business ventures and startups. This is a good option for you if you are finding it difficult to get a traditional financing or your personal investments are tied up in existing loans. 

With Funding Circle, you can apply for loans ranging from 6 months to 5 years. The minimum amount to borrow is $25,000, but you can go up to $500,000. You’ll need good credit to apply, but overall the terms are laxer than you’ll find at many other financial institutions.


A large selection of strangers willing and eager to lend you money can be found on Peerform regardless of your reason for needing the money. You can visit them if you need money to remodel your home or to pay off bills. It is also a peer-to-peer lender kind of operation and you will need to pitch your application to numerous investors on a marketplace. It is from there the decision to lend you money or not would be decided. The terms are fairly straightforward and there is generally no complicated underwriting process or lengthy wait time. There is no additional or hidden cost except origination fee.


Another loan alternative to corporate banking institutions, Upstart allows you to apply for a loan and get a fast response. Computer calculations decide if you’ll be a good candidate as opposed to that dreaded FICO credit score comparison. Once they establish your creditworthiness for paying back the loan, you’ll get an interest rate and a loan offer.


Over $16 billion in loans from willing investors is what Prosper boasts about. All you need to do is to fill out your profile, the amount you would like to borrow and what the money borrowed would be used for. Strangers begin to add money to your account once the offer goes live and they will get a cut of the interest that you pay in. Prosper lends based on your credit history, but because there are multiple lenders and investors, you have a better chance of approval even if you credit is shaky. 

Borrowing money from strangers may seem a little daunting at first. Remember, these people are also in it for the money. Their investment in you is a win-win as you both get paid, and you get ahead.

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