Creating A Website Today

Bigcommerce Website Builder Info: Visual

Bigcommerce Website Builder LogoYou might be personally debating on using Bigcommerce for your ecommerce website builder.  I don't blame you, and in fact they probably don't either.  You personally should look around and see the different options to get a feel in which one holds the best features and potential for you.

Also, I don't know about you, but for me I love to see a few options cause it makes me feel better about selecting the option I do.  Check out the Bigcommerce info-graphic below to learn more about it.

Key Features I Picked Out About Bigcommerce:

* 50,000 Bigcommerce Clients

* 89% Growth In Revenue Per Store In The Automotive Field

* 31% Jump In Revenue For Jewelry Stores 

Bigcommerce Website Builder Info

SO are you ready to try out Bigcommerce, and if the answer is NO, not a biggie.  If yes though head over there now.  And if your still debating I would recommend reading the following article to see what the best ecommerce website builder is for you.


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Get To Know The Owner From Website Babble A Bit

About Website BabbleHey everyone, if your reading this you may have already been to the forum website babble and saw Lisa hanging out in some discussion.  If you haven't Lisa is the owner of website babble, which I personally really enjoy because of all the topics it covers for anybody with a website or creating a website.

So I thought it would be fun to just go ahead and reach out to her and ask her a few questions in regards to the website and see what she has to say.  Also, this should give you a feel of what she thinks in regards to the forum and what it has to offer and more.




Q: When did you start blogging?

I started blogging in 2006.

Q: When did you start your forum? and why did you create it?

I created my forum in 2007 because I wanted a way to help more people at once and publicly.  It was getting difficult to keep up with email so I launched the forum to provide  another way for my visitors to get help.

Q: What do you feel makes your community special, or stand out, or well, just amazing?

Many members of the forum are there because they genuinely like to help others.  While so many other forums are flooded with spam, we have a very strict no-spam policy which keeps the forum clean and useful for those who want help.

Q: OK OK, here is a tough one.  If you could give your members something amazing what would it be?

A discount to my latest affiliate marketing course that will be launching soon.

Q: If you could ask your group members one thing and get an answer from all of them, what would that question be?

What does Website Babble need to make you want to visit more often?

Q: Any of your forum power writers come to mind?  Anybody to give a shout out to that adds HUGE value?

A couple of my moderators have been active members of the forum since 2007.  They help me keep the forum clean of spam and answer questions when I cannot.  I appreciate their contributions so much!

Q: What are some of the hot topics that seem to always be discussed within the forum?

Building traffic is always the toughest and most challenging part of building a site so we get lots of questions on that subject.

Q: If someone is NEW to the forum, what would you recommend they do first?

Read the Marketing Tips tab at the top because it covers a lot of what newcomers need to know when starting.

Q: What do you think is the toughest part about creating a website?

Building targeted traffic.

Q: What tips can you recommend that you’d only share with a close friend (and everyone reading this blog) about starting a website?

Take your time and really focus on YOUR UNIQUE ANGLE.  So many people think success is about content on a page, but if you can't stand out, then you are going to be in trouble in today's world.

Thanks Lisa

Have you used website babble yet or had the chance to go over and check it out?

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15 Facts About ECommerce That'll Keep You Up At Night

Scrabble Pieces Spelling Stats

When you think about e-commerce, you probably picture a store online that is constantly promoting new deals, products, services and so forth. E-commerce involves a lot more strategy from a marketer's point of view.

Even though some marketers are looking towards other markets for big gains, the e-commerce market has tons of potential. Internet businesses are easy to start and still booming according to these facts and statistics.

While it's still a relatively new technology and form of sales, e-commerce can provide you with a steady amount of income, and if you are a small or major retailer with a physical location, you can improve your sales growth just by adding this online element to your sales funnel.

The following 15 facts will make you not only want to improve your e-commerce store but also provide inspiration for a variety of other outlets for online income.  Most consumers prefer to shop online for a variety of reasons. Some of these include:

  • Time saving
  • Less taxes
  • Easy to compare prices
  • No crowds
  • More variety
  • No driving or gas expenditures

In addition, many shoppers prefer to research products online first and get an idea of the price before they go to a physical location. If fast and free shipping is offered, many shoppers would rather purchase online than go in store for items that don't require you to see the merchandise firsthand.

However, shoppers are less likely to jump on deals for items online that require more research in-person. For example, shoppers may go in-store to look at shoes, but they may still buy online if they find a better deal while browsing their phones in-store. 

A Note on Mobile E-Commerce


As the following statistics will show you, mobile e-commerce is very important to retailers who decide to provide online stores. If you don't have a store that is accessible through a phone or that is optimized for a mobile device, you will have a much harder time getting people to purchase items from your store especially if it is an item that they can find from another retailer.

Mobile-optimized online stores feature quick and easy checkouts, one tap navigator, bigger images and intuitive interfaces that respond to touch scrolling. By creating an online store that can be accessed from a tablet or smartphone, you likely reach thousands of new customers each month.

Let's Start with the Basics


1. E-commerce actually started in 1979. Michael Aldrich connected a domestic television set with a phone line to create online shopping back, which boomed in the 1980s and 1990s before the Internet took off.

2. Amazon launched in 1995. However, Amazon didn't start turning a profit until 2003. The average order value as of 2012 for Amazon is $47.31, and of course, Amazon is known as one of the largest online retailers.

3. Netflix was not the first online DVD subscription retailer. Blockbuster created Blockbuster.com in 2004, but it's not clear when the service began that was like Netflix. Ultimately, Redbox and Netflix led to the downfall of what used to the biggest name in home video entertainment.

4. As of the third quarter in 2012, $4,423 in transactions occurred through Paypal per second. Paypal has expanded in recent years becoming the most well known way to pay online without having to give up your credit card information.

5. Groupon turned down a deal from Google for $6 billion in 2010. The online deal broker became an IPO the next year.

How Social Media Affects E-Commerce


6. Zappo makes money off of referrals from social media. The online retailer takes $0.75 from Pinterest, $2.08 from Facebook and $33.66 from Twitter.

7. 46 percent of online shoppers count social media when deciding whether to buy something online.

8. 47 percent of shoppers say that Facebook has the greatest impact on what they buy.

9. 54 percent of Facebook members use their phones to browse. There's no doubt that mobile e-commerce has grown rapidly and continues to bring in billions of dollars for retailers who have mobile accessible online stores.

10. Polyvore has the largest average order value maintaining $66.75 per order.

Facts on E-Commerce Growth


11. More than 80 percent of the online population has used the Internet to purchase goods and services.

12. 50 percent of the population online has shopped at Internet retailers more than one time.

13. E-commerce sales grow more than 19 percent a year and will reach almost $1.4 trillion by 2015.

14. The highest growing country for e-commerce is India followed by Saudi Arabia, Indonesia, Australia and Philippines. The least growth for online shopping includes Latvia, Ukraine and France.

15. Mobile e-commerce shoppers will grow to 23.8 billion in 2015. This is up from just 1.2 billion in 2009.

Some Other Statistics About E-Commerce


From the above it's clear to see that connecting mobile and social media together with e-commerce is essential for prominence and growth with any online retailer. However, you can learn a lot from the following statistics as well including what are the biggest e-commerce stores, what age groups love shopping online and what types of payment make it easiest for customers to purchase online.

Most online shoppers use bank transfers or credit cards to pay. In fact, 40 percent of online purchases are made by credit card. However, Paypal is quickly growing at 35 percent.

North Dakota shoppers spend the most money online. Typically, this state's residents spend 16.17 percent of their income on online purchases.

The biggest e-commerce store now is Amazon. Second is Staples, followed by Dell, Office Depot, Walmart and Sears.

Online shoppers in the 31 to 44 and 55 to 65 age groups spend the most money shopping online at 68 percent.

Online shoppers spend between $1,200 and $1,300 on purchases made over the Internet each year.

Pizza Hut was the first pizza chain to offer online ordering in 1994.

Most shoppers at 71 percent believe that they can find a better deal when they shop online rather than going to a store.

It's expected that the number of online consumers will grow to 201 million by 2015. As of right now, there are 195 million online consumers buying things every minute through e-commerce stores.

Predictions for E-Commerce in 2015 and Beyond


Most of these statistics point to the fact that e-commerce is already the best way for businesses to expand their inventory and sales growth. In the next decade, it's likely that shopping online will increase dramatically to the point that most purchases are made online even for items that may have required "to be seen" first.

This is due to new technology, faster checkout and easily compared prices of goods. However, more people are also concerned about the lack of security for online shopping. With several breaches in online security for major retailers like Target, Home Depot and Neiman Marcus, people are looking for safer ways to pay online that don't require them to provide a credit card number directly.

The next steps for e-commerce must evolve around the safe, fast and mobile shopping. If retailers can ensure that their shoppers will have the most pleasant experience by shopping online, there's no reason for shoppers to go in-store.

Sources:

https://blog.paymill.com/social-media-ecommerce/
http://www.factbrowser.com/tags/ecommerce/
http://mashable.com/2012/11/06/ecommerce-statistics/
http://www.fortune3.com/blog/2011/07/ecommerce-facts-and-statistics/
http://getlevelten.com/blog/julie-miller/10-shocking-e-commerce-facts
http://www.internetretailer.com/


So, do any of these stats stand out to you?  Or possibly see any stats that really stand out?  For me, it was the fact that "$4,423 in transactions occurred through Paypal per second".  Pretty crazy to hear that.


Image Credit: Lending Memo 
Written And Published By Christopher Pontine

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The Best eCommerce Website Builders To Try Today

Carts in cloud with ecommerce wording
The best website builders
Having trouble deciding what is the best eCommerce website builder to try?  These eCommerce website builders are going to be the ones that you will want to try out to create your ecommerce website store no matter what.  Hands down these are going to be the leaders for the ecommerce industry.  All  of these are going to have the tools you need to try, and as well  take the headache out of coding and other exhausting things you would have to read up on.

Let's go ahead and look at each one and some key features they offer.  Overall though you will be pleased with any of these, and with the free trials they offer you can go in and sign up and look over some of the features and then decide after that.

A Quick Side Note: When I first started Creating A Website Today I created an article going over 5 eCommerce Website builder and more to give you some great ideas.  This is a great article and you should check it out for sure.  I just realized some of us need it broken down even more to help decide because it can be overwhelming to make that decision, because, well let's face it, your about to open up your very own website (which is awesome).  I personally need 3 options or less cause it just is easier to make that decision with less to choose from, and I have a feeling so do others.

Affiliate Disclosure: Just so you know I can get paid out by you purchasing through these links below, nothing changes, it just helps support this website. If you have any questions on this affiliate disclosure just let me know, I'd be happy to answer any of them for you : - )

road with mountains and ecommerce words
The best ecommerce website builders to try

Shopify (Trusted By Over 100,000 Store Owners)

Shopify website builder homepage
A great option for your ecommerce store
Everything about Shopify is very 1rst class which is why it is a leader in providing eCommerce solutions.  From beautiful templates with drop and drag features, to apps that can help enhance your overall store front and save you the hassle from hiring a programmer.  Lets check out some features and what it has to offer, and well what it is all about.

Check Mark
Shopify opened up in 2006 and was founded by Tobias L├╝tke, Daniel Weinand and Scott Lake.  "The user-friendly platform garnered rave reviews right off the bat, drawing accolades from TechCrunch, The New York Times and Fast Company. Shopify has received $122 million in Series A, B and C funding from OMERS Ventures, Insight Venture Partner"(Incase you want to read more).  Today Shopify powers over 100,000 thousand stores which is amazing if you taking the time and think about that overall number.

check markShopify offers a ton of different features such as over 100+ professional different templates to choose from to make designing your store even easier.  The other great part is that every template is totally easy to customize to your own likings without having the knowledge of HTML or other code languages that may require hours of reading or possibly hiring a designer to code it for you.  It also lets you view your store at the same time you are editing it so you can see the changes as they happen.

Check Mark
Some other key features that make Shopify a great choice is that fact you get a 14 day free trial to test it out fully and discover what it has to offer you fully.  That to me is a big deal cause I have to get in the drivers seat and test stuff out.  Another great feature I like is the ability to take Mastercard, VISA, American Express and Paypal.  I just like knowing I have piece of mind in running my store and that I can accommodate my customers paying methods.  And one last thing, their uptime is nice at 99.94% (which means they be hustling)

Other Key Shopify Features:

* Blazing fast servers -Our global server network delivers quick access, worldwide
* Hassle-free set up - Your site is created in seconds of sign-up, and upgrades are always instant.
* Advanced store statistics - Shopify includes built-in analytics that let you keep track of your    sales and progress over time.
* Customer accounts - Encourage return shopping by enabling customer account creation at checkout.
* Built In Mobile Commerce Shopping
* Customer Support 24/7
* SEO Top Practices 

 
Red Banner Promotion Shopify

 

Big Commerce - More Than 4 Billion In Sales And 55,000 + Stores Created

Home Page of Big Commerce

blue circle with checkBig Commerce offers a great all around website builder for anybody looking to bring their store online.  Their numbers speak too, with over 50,000 + stores selling over 2.7 billion worth of sales.   As well, they span over 25 different industries and as well 65 different countries.  Big Commerce as well has 3 office locations which are Sydney, Aus, San Francisco, Cal and Austin, TX.  Always nice to know too that they have many different offices with the support you need in order to run your store.

blue circle with check Some nice features that come with Big Commerce are great tools such as the abandoned cart saver.  This is cool because it will follow up with your customers if they abandoned their cart they started on your website, and possibly recover 15% or more of possible lost sales.  Another great feature I like is being able to customize your product options fully with color, size and pictures.  The more options you give your customer the better chance they may purchase your products.

Some other key features:

* Smart pricing rules - automatically adjust price with certain rules in place such as additional price for larger t-shirts
* Perfected images - each one is customized to your store
* Sync with quick books
* Mobile management app
* Top SEO features


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Are You Using Colors Correctly On Your Website?

Consider Your Colors Wisely
Websites often look at color for the sole purpose of triggering a response from visitors.  Of course, everyone has their favorite colors that they gravitate to whether they realize it or not.

However, a skilled web designer also understands how important color is for the site. Colors can signify all kinds of meanings that make users gravitate towards certain products and services found on your site.

Good color choices take careful planning, and when done correctly, they can influence how visitors interpret what they're seeing when they view your site.

Colors mean all types of things to people, but this guide gives you some insight into the ways colors are perceived and how to pick the right color palette for your web design.

The Power of Color in Business

Color will always have a powerful subconscious effect on humans. In every part of our lives, we view different colors. If it's cloudy outside, the world is grey to us, foreboding and somber. If it's sunny outside, the world is bright and effervescent. When you apply information about color to business, then you want to improve your business profile and marketing by using colors appropriately.

In website design, colors mean everything. Colors have several meanings, but it's hard to escape what they mean for businesses. Most businesses use red because it inspires people to take action. That's why so many call-to-action buttons and links on websites are red in color.

Across the spectrum, there are also different ways to partner one color with another so that they compliment and make your website easier on the eyes. People typically don't like to see sites that are of one bright color such as yellow or neon green. This tends to make visitors bounce off a site instead of looking for information.

The way you choose to incorporate color theory into your web design should be strategic but also match your brand. If you are just starting out with your brand, color choices typically start with your industry.

For example, industry-specific colors might be green for eco-tourism or cash savings. Purple may also apply to fashion or beauty. When you start to pick out the colors of your brand, it's important to pay attention to how those colors will reflect for your industry. While you don't want to pick the same colors as competitors, you want to be able to fit into your industry and evoke a response from users that won't be confused if you pick a strange color. For example, pink might be a difficult color to sell with power tools. 

The Colors of Walls

Did you know that the colors of a wall can change how a person feels temperature? Warm colors like red and yellow actually think a room is warmer just because of a color. Cool colors like light purple and blue often make people believe that a room is colder. Throughout history, businesses have been using this human psychology to save on heating and cooling costs while also giving people the notion that their coffee shop is the warmest in the winter because of orange walls.

Evoke a Response

Color also evokes emotions from people. People of different cultures often view colors very differently. For example, yellow might make you think of a sunflower, but it might make someone else think of a funeral since yellow can be a symbol of death. Everyone has personal proclivities for colors as well. You shouldn't base your color choices on avoiding what people don't like. Rather, you should make color choices based on what the emotional response that you are likely to receive from the majority of visitors.

Colors

What Do Colors Mean

The color green has been linked in many studies to creativity. People generally like the color green, and it has a positive association with regrowth, rebirth, nature, purity and so forth. Sites that feature green may be eco-conscious. Others may just associate the color green with genius intelligence. By researching what colors mean, you can get a better idea of the responses to your website. Here are a few basic color meanings:
  • Red: Aggression, anger, rage
  • Purple: Feminine, lust, passion
  • Blue: Calmness, sadness, gentle
  • Pink: Feminine, happy
  • Black: Strength, foreboding
The way you use color is just as important as the color choices that you make. All websites benefit from a color palette that is predictable but also creative. You want to highlight certain parts of your site while also making sure that it has a unified feeling overall.

What Colors Encourage Visitors to Click 

Whether you want your visitors to click on an ad, read a story or just buy something, you likely have different links, buttons and check out buttons (check out the article on "Data Driven "Add To Cart Button" Information: Something To Consider" for more on the "add to cart button". What should the colors of these be?

There are five popular color choices used in web design that will bring your visitor's attention. 

Red: There's a reason Pinterest is red. Google also uses red for most of its buttons. Red is associate with anger, but it's also the color of love. This strong, dynamic color is guaranteed to get a response from visitors.

Orange: Amazon is famous for its love of orange. This warm, vibrant and energizing color is not as intense as red but has a lot of spunk. Orange is also considered aggressive.   

Dark Blue: Blue tones are found everywhere online. It's also repetitive. However, blue can be changed with a nice palette. If you think of Facebook, the darker blue tones here have been shown to make people feel safe. If you want a customer to feel safe about clicking a link, a blue tone is the best way to go.

Green: Groupon uses the color green because it's both safe and promotes the idea of money savings. Green inspires optimism and creativity. Green works best with sites focused on eco-conscious products, recycling or even money saving.

Purple: It worked for Yahoo. Imagination, creativity, dignity, royalty, abundance and passion are all used to describe this versatile color. Most fashion, beauty and lingerie sites use some type of purple in their design. However, Yahoo uses it because its bright and noticeable in a crowd.  

Is Monochromatic Considered Colorful?

Monochromatic websites also have their place in their sun. A monochromatic site incorporates the use of black, white and grey tones with tiny pops of color in some cases. The pops of color act as accents to the monochromatic style of the rest of the site.

People have an affinity for bold black. It's strong yet mysterious and modern. Black also evokes feelings of elegance and power. Grey is a rather neutral color that can be almost invisible but still promote feelings of peace. White is the ultimate cleaning power when you need to express openness, cleanliness and simplicity.

Monochromatic sites work for most industries, especially if you use the accent colors to benefit your audience. In addition, colors used with monochromatic designs should be bright and pop out at you. Orange, red, yellow and even neon green are great uses of this idea.

Colors in Mobile Design

Experimenting with color in mobile is a good thing. Obviously you want your site to be readable on all devices, which means that simple color palettes with bright pops of color tend to work very well for mobile. Color as accents is a popular trend as well because it allows your site to catch attention while mobile browsers look for information.

However, sites also use colors to make a statement. For example, they may have a background color that is completely red with white logos and text for a mobile version. Other sites just stick to making buttons a certain color on mobile as it makes them easier to find and click.

Color Trends

Then there are sites that break the rules. Some sites have a knack for breaking the rules and using new colors that people appreciate even if they are not traditional. One color trend is retro color themes. These color schemes feature yellows, browns and blues with some pops of red. However, what's most noticeable is that they lack any real "bright" pops of color. You won't see any neon colors on these websites.

How you use color for your business website can mean a great deal to getting visitors and keeping them coming back. While colors have different meanings around the world,it's more important to match your industry with colors or even to use a color as a way to think outside of the box when you need to.

There are some color choices that are better for accents as well. By taking a look at some color palettes and looking at your brand, your site will benefit immensely from a sound color theory that attracts attention for all the right reasons.

Have you ever thought about this?  Or have utilized the stats behind colors?

Written And Created By Christopher Pontine & Cynthia Adams
Image Credit: Rilind Hoxa

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Data Driven "Add To Cart Button" Information: Something To Consider

Add To Cart InfographicYour ecommerce store is very important to you right?  You take the time to design it and bring it to life too.  It's critical sometimes to know the smallest of details to help your traffic convert into sales such as what the "add to cart button" should look like?  Or at least see data driven information to recommend a certain design in regards to yours.  This graphic will highlight what the "Top 50 Ecommerce Stores" use.

Things Highlighted To Tweet And Share:

    • * 24% of the top 50 Ecommerce stores use the color blue- Tweet
    • * 64% of the top 50 Ecommerce Stores use rounded corners - Tweet
    • * The average size of the "add to cart button" is 144 X 34 pixels- Tweet
    • * Over half of the top 50 Ecommerce stores use the word "cart" instead of words such as "bag", "buy" or any other word that may fit properly.- Tweet
    •  * Most of the top 50 don't use an icon, yet the "cart" is the most popular icon- Tweet
Volusion Inforgraphic
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Need Website Funding? Check Out Peer To Peer Lending

Circle Saying Need MoneyIn the past year, there has been a lot of buzz on how peer-to-peer (P2P) lending is one of the best
alternative ways to invest. This method especially works if you are leery of the current stock market.

Those who suppose P2P lending say that it's a better way to get a good return on investment without getting deeper into a failing economy.

Before you decide to place stake in your index funds and head out for the nearest peer-to-peer lending site, you should take a closer look at the basics and study the two main sites for P2P investing.

What is Peer-To-Peer Lending

At its core, peer-to-peer lending is when one person loans money to another person to start a new business or even when you borrow from a friend to pay a down payment on a new car. You are either creating or taking the loan based on a relationship with the other person, which counts as much as a good credit rating.

Sometimes these loans to friends, family members or other individuals work out well, but in some cases, they do not. Peer-to-peer lending has funded many dreams, but they are also famous for breaking apart personal relationships.

However, modern peer-to-pending lending hooks in with online investing. It's actually a major business. Third-party websites allow matching between lenders and borrowers without the trouble of personal ties. These websites intend to make it an easy transaction for both parties that can be trusted.

There are two things to consider with peer-to-peer lending.

- Borrowers on P2P lending sites typically get better interest rates and fairer loan terms than if they got a loan from a commercial bank. Lending sites only work with borrowers if a credit score is above fair or over 630. The terms are still better than what you are offered at most banks and private investment firms.

- Lenders often get to know something about the borrower before lending out any funds, which builds more trust in the relationship. If the loan doesn't work out and investors lose money on the deal, it's not as personal as lending to a family member. You won't have to see your aunt at Thanksgiving and ask for the deposit on the hair salon back. There are also guidelines and rules in place to minimize the risk so that you can get your investment back on loans that go sour.

What Sites Offer Peer-to-Peer Lending

There are many of these third-party P2P lending sites, but only two of them have been around long enough to have a viable, trustworthy model.

- Prosper.com
- LendingClub.com

Tips for Prosper

Prosper is one of the older peer-to-peer lending sites on the web. While they may not have always been successful, they have built an original model and created an incredible avenue for investors and borrowers to fund projects and businesses.

They also have achieved record highs in issuing loans from 2013 to 2014. This success did come after mistakes were made in 2012, but they placed $20 million in funding and saw incredible growth to correct those mishaps.

If you are just getting started with peer-to-peer lending, Prosper is very easy-to-use whether you are a borrower or lender. The overall platform is based around its user experience. You will easily be able to set up an account, view your account summary, invest or borrow money with just a few clicks.

In addition, tools like Automated Quick Invest allow you to lend passively. You set up filters to auto-invest and let the website work out the rest. If you are a borrower, Prosper has a lower credit score requirement of 640 to get a loan.

However, this also means that some lenders may come in contact with riskier borrowers. Prosper actually allows for some loans to have an interest higher than 30 percent, which is nearly five percentage points higher than those you will find on Lending Club.

Overall, if you want to jump into peer-to-peer lending and want a simple answer, Prosper is the best platform. This site has more filters allowing you to pick and choose borrowers as an investor. Borrowers will enjoy the simplicity of applying for loans and finding investors as well.

Tips for Lending Club

Lending Club has done very well throughout its history in peer-to-peer lending. If you view the issued loans history for the site, Lending Club experienced incredible growth throughout 2013 and 2014.

In addition, the site was the second after Prosper to launch and has experienced great returns. In November 2012, Lending Club had issued $1 billion in loans and doubled that amount in issued loans eight months later.

For its success, Lending Club has some minor drawbacks. The process to find borrowers or investors is not as simple as it is with Prosper. The website definitely needs a reinvention. Lending Club doesn't have as many filters as Prosper, which makes it less simple to find investors or borrowers. The site mainly focuses on institutional partners and doesn't have enough options for retail investors. This means that private investors won't be able to use Lending Club as easily as Prosper for passive lending.

However, Lending Club has a better track record for strict loan requirements, which diminishes the risk for investors. A minimum credit score of 660 is required to borrow money on the site. There is also a stricter application process, which means that 90 percent of loans are not approved. However, the loans are better quality as well. The interest rates are lower, and investors are happier because they aren't receiving a lot of default loans.

Overall, if you want to lower your number of default loans, then it's better to go with Lending Club. If you are a borrower with a good credit score and history, then you may enjoy the loan terms that you find from investors on Lending Club as they won't have higher interest rates.

Verdict: What Site to Use for Peer-To-Peer Lending

For those borrowers and investors who think online P2P lending is the next thing, Lending Club and Prosper will be the best to start with. They both have a longer company history than any other peer-to-peer lending site, and they also have several tools to use that will make investing online very simple to understand.

Both platforms work wonderfully if you are looking to increase your portfolio or if you are a borrower trying to start a small business. One way to decide on a platform is to just to open an account on Lending Club or Prosper to get a feel for how it works. There is no risk to open an account and get your feet wet. It's the next step to diversifying your investments or ensuring the success of your small business. 

Have you tried, or plan on trying one of these options for funding your website venture?

Written And Published By Christopher Pontine And Cynthia Adams

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