Virgin Money Overview

person to person lending
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Virgin Money is a person to person lending service that allows you to structure formal loans with people you know. Through person to person lending, you skip the bank and borrow from an individual (or group of individuals). This page is an overview of Virgin Money and the various person to person lending options there.

Virgin Money was previously CircleLending. Note that (once again) things have changed and Virgin money is no longer in business. A similar product is offered by National Family Mortgage.

How do you get a loan?

You don't actually get a loan from Virgin Money. Instead, you find a lender on your own and use Virgin Money as a service provider. Generally you would ask your friends, family, and contacts to loan you money - then Virgin Money steps in as an intermediary.

If you can't find anybody to loan you money, you might try a lending marketplace like

Interest Rate

You and your lender agree on a rate, and Virgin Money uses that rate.

Repayment Schedule and Terms

Again, you and your lender decide when repayment begins and how it happens. Virgin Money allows flexibility that you might not find elsewhere (you don't have to start repayment immediately, for example, or you might use a seasonal repayment schedule so that you can pay when your income is higher).

Depending on the product you choose, Virgin Money will take care of the payment process and transfer money from your bank account when payment is due.


There are a variety of programs available. The most basic product currently costs $99. If you want Virgin Money to provide more services, the cost goes up. Unfortunately, there is a fairly steep cost associated with each electronic payment.

Services Available

Depending on the program you choose, you can get a lot or a little. Virgin Money will provide loan documents and repayment (or amortization) schedules for basic loans. They can also:

  • Draft payments electronically (via ACH debit)
  • Provide title and escrow services
  • Coach potential borrowers and lenders
  • Create loan proposals
  • Manage liens

Other services are available as well.

Credit Reporting

Virgin Money can report activity to PRBC, an "alternative" credit reporting company that is increasingly used by mainstream lenders.

Bottom Line

Virgin Money gives you a way to formalize informal loans. This gets everybody on the same page and can help reduce disputes among friends and family. If you need some guidance and structure, Virgin Money can help make it happen.