Prosper to Good Fortune
By TheWild1 at 10 January, 2008, 8:16 am, Categories : All About Business
I came across this nifty site the other day, Prosper. It is basically a peer to peer lending Lending Marketplace. Borrowers can find lenders and lenders can find borrowers. It is a great way to find those loans that you need and you don’t have to ask the bank. Here is a great picture of their site that shows how it works.
Before you can borrow or lend you must have your driver’s license, social security system, and bank account information. There are options for personal and business loans. It is a pretty cool idea because you do not necessarily have to rely on 1 person to give you your entire loan. Many desired amounts are filled on several little contributions. You can also see the history of user’s past loans and each person is given a credit grade. The whole profile is pretty well laid out.
There are also some interesting request for why people need money. It ranges from people wanted to open up their own business, go on vacations, or just pay off some debt.
Prosper also has tons of great information and tutorials on how it all works.
- How to borrow: Click here for video
- How to lend: Click here for tutorial
So give it a look and start that business you always wanted to or bring out the generous lender within yourself. Go to Prosper now.
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Hello,
I’ve been a lender on Prosper since September 2007 and I’ve been doing very well with my loans. I’ve lent out $200 and my monthly returns are a total of $8 a month, that’s alot more than I get on my savings account for which I only get $0.75 and I have more than $600 in my savings account, so I have been doing much better on Prosper than I have been doing at my bank.
I am also reinvesting my monthly returns, therefore, the monthly returns are working for me rather than being spent, this is like compound interest on steroids.
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thats awesome.. looks like this thing really works.. thanks for the insight
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I dropped you an email but wanted to tell you that you’re right on with this post. My secret is to only bid on listings with no current delinquencies.
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