Monday, October 15, 2007

Virgin Group Announces new US Peer to Peer lending site

In May Virgin Group purchased a majority stake in CircleLending. Today they have announced they are using that as a platform for a new US peer to peer lending site. Virgin Group is a $20 billion dollar company, and is run by well known billionaire Richard Branson. A coming out party is scheduled to be held in Boston today where Richard Branson is going to hand out red dollar bills with pictures of him and his mom on them. Reportedly Richard's mom lent him several thousand pounds through the new peer-to-peer lending site.

Virgin Group plans to use this site to expand its offerings over the next year to include things like small business financing, student loans, and larger-scale loans.

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