I suppose I could implement something that could divide between different lenders... The borrower could just as easily request multiple small loans and divide it up that way. That would be much easier to program and less prone to failure. Would having to make multiple loan requests be a huge problem for you? What could some of the complications be?
I'll just say this much: The popularity of P2P USD lending is, in part, due to lenders being able to diversify their loans so as to mitigate the risk of default. A person with $10,000 would much rather invest $100 each into 100 loans than the full $10,000 into 1 loan. That way, if one of the loans is defaulted on, it's not such a big hit, whereas the $10,000 loan defaulting would be devastating.
The loans could be split up by the person requesting them, but then, the person requesting them wouldn't know how much each lender wants to lend, so how would they know what to split the loan into?
It's more programming to implement this, I agree, but in my opinion, you're going to lose out on a lot of potential lenders if you don't allow this type of fractional lending.
This is great input thank you. I could implement package loans. Where a loan could consist of hundreds of smaller loans. When the lender would like to lend a particular amount he could type in the number of small loans he would like to take on much like shares... This would not be that difficult because it would not deviate far from my currently implemented coding. What do you think?
I think people would raise an eyebrow at something like that. I'd much rather see this:
Loan A: $300/$10,000
Loan B: $100/$1,000
Than this:
Loan A.1: $10
Loan A.2: $10
Loan A.3: $10
Loan A.4: $10
Loan A.5: $10
...
etc, etc, you get the idea
Now, if you can do the multiple loans thing in the background, and make it seamless to the end user, then I suppose it doesn't matter how you do it. Just don't make a lender or borrower look at pages of tiny loans that are all, ultimately, part of the same loan.