Lending Money With a Smile
Zopa is a market place for social lending
I think I heard about Zopa while listening to Radio 2 at work, after a short investigation I quickly grasped the basic concept. Lenders add funds to a central pool of cash and then borrowers borrow against that money.
The money you add is spread amongst many borrowers so the chances of being effected by bad debtors is lowered (but not removed).
I added £30 to my account just to see how the system works. Today saw my funds clear into my account and we have started lending already. I plan on posting an update in a couple of months but I’ve already had my moneys worth for the entertainment value.
I have one small criticism. Having set up a direct debit to add funds the site appeared to say I would be lending within 3 day but didn’t tell me that it would also take 3 days to set up the direct debit. From creating my account to adding money and then have my money lent out has taken just over a week, but I must congratulate Zopa on keeping my informed about the process.
If there is an average for the number of ideas you have in one day, I imagine I would be well above that average. The problem with ideas is you never know how good they are until you tell others. This site should help me discover if I'm just waisting my time. 
It’s a good idea, but careful about your current employment as you know we have to follow rules and regs.
Good to see you blogging.
Chalky its seen as an investment for tax purposes so the process isn’t as restrictive as if it was a second job.
Your right that I should declare it but as its not a job my current employer has no need to know, as long as i declare my interest to HMRC I’m covered.
This is assuming it makes me any money, but we’ll see soon enough.
Theres nothing like the relief of finding what youre looikng for.
Did not think of HMRC but a very valid point!
My advice to you is for “Mrs P” to take on the lending/investment opportunity as this is one area that we are prohibited to be seen active in.
Otherwise why not start up a similar product within our main stream line of employment??
Other than that – A very good idea and no doubt I will let others know, obviously directing them to your site first