Virgin Money (Waltham, MA) provides loan documentation and servicing for small person-to-person loans between friends and family. Virgin Money does not match borrowers with lenders. Instead, borrowers and lenders who already know each other (e.g., friends and family) use Virgin Money to document the loan with formal paperwork. Virgin Money can also send out the monthly payment reminders and annual statements and perform other collection-related activities. Interest rates are typically lower than on stranger to stranger loans because the lenders have a personal interest in helping the borrower.

There are two documentation options for Virgin Money Student Loans: a $199 fee for a single-use promissory note which covers just one loan and a $299 fee for the "Virgin Money Student Payback" which allows up to 10 separate loans to be added to the original promissory note. Loan servicing is also available for a fee of $9 per payment.

Virgin Money was previously known as Circle Lending, founded in 2001. The name was changed in 2007 after billionaire Richard Branson acquired a majority stake in the company.

For more information call 1-800-805-2472.