Social lending success?

[MillyO]

I was just reading the article below:

http://www.cozyprices.com/social-lending-an-alternative-to-unsecured-bank-loans.html

The thing is, I have applied to social lending style lenders before, and have never had any luck, I have had plenty of luck with high street lenders though.

Are social lending establishments more fussy in the credit scoring criteria?

Thanks for an answer!

[julia audi]

Hi
social lending is an interesting concept that has picked up in the recent years as it has become almost impossible to get a loan at decent rates from traditional sources unless you have a top credit score! Zopa is one such social lending site and YES-secure has also joined the unsecured loans space in June 2010. YES-secure allows loan requests from all credit scores (A* - E) though it has a responsible screening and strict underwriting process in place. In addition, YES-Secure has incorporated a number of social networking features in its lending model which allow the members to invite their friends, colleagues and even family to YS website in order to fund their loans through them. For more information, check out www.yes-secure.com.