Peer to peer lending
I picked this tip from Tal Pinchevsky at bigThink
It’s a great way to get a loan, I used to get money from my relatives this way. It’s very simple. Let’s say you need a loan, instead of borrowing from your credit card at 15%, you split the interest difference half ways with a relative that has a deposit at 3%. So you and him end up winners, you get a cheaper loan at 9% (15% + 3% =18% / 2) while your uncle gets a 9% instead of the measly 3% offered by the bank.
According to the Prosper.com description: Borrowers with good credit (640+) post a loan listing and lenders invest $25 or more each towards your loan. They can bid your rate down in our auction process.
So if you need a $9,000 loan and want to pay 12% interest, you may end up only paying 9%.
In a similar statement, Lending Club offers investors higher returns (see report) and borrowers lower-cost loans through an online financial community that eliminates the high cost and complexity of traditional banks.