April 21, 2006

while i'm out...

Anyone who knows anything about prosper.com, or has lent or borrowed there, I want to know about it.

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thatedeguy said...


It's an amazing idea really. The non computer world basically uses banks and credit unions to loan and store money. The bank makes 8% on a loan but only gives out 3-4% on savings, they make a 4-5% margin and thats how they make money. Prosper.com cuts out the bank and credit union. You as a lender can make that 4-5% marging and more. As a borrower, you can actually get rates that are fairly good and sometimes get a loan on prosper.com where a bank or credit union wouldn't.

I still haven't played with the groups a whole lot, but there is a structure there for bonuses and such on the rates.

overall, prosper.com is a online marketplace for peer to peer lending. A great idea that seems to have taken off quite a bit.

I have a group on there. The address is: https://www.prosper.com/public/groups/group_home.aspx?group_short_name=YoungPros

There are also a few other groups that are specific to bloggers as well.