How many of you remember the 60’s television show: Lost in Space? A family and its intrepid robot were launched into space only to go off course, crash onto an unknown planet, and have to fend for themselves. The show was basically a futuristic adaptation of Daniel Defoe’s classic: Robinson Crusoe. In the TV version, our family (ironically also the Robinsons – how clever TV writers are) had the help of a robot which could sense danger, and would then warn the youngest Robinson son, Will, by repeating the phrase “Danger, Will Robinson, Danger!” The family faced some kind of peril in every episode and so you could always count on the robot to issue its familiar warning.
We have tracked with great interest the evolving nature of borrowing and lending money in our country. Several years ago the pipeline for borrowers was plentiful as banks, and funds provided by Wall Street, flooded the lending markets. Then in 2008 the market did a 180-degree turn and traditional lenders stepped away, leaving eager borrowers wondering where they would get their money. In the game of musical chairs a chair is periodically removed and the person left standing is forced out to the game. In 2008, when the lending music stopped it felt as if five chairs had been removed from the game. Where would the borrowers turn? Enter the new private “Peer 2 Peer” lenders – and welcome to the new world of alternative lending.