Update on Prosper.com... 340,000 members, generating $71-million in Loans...
 

Interesting article on person-to-person Banking...

There's Money to be made by Getting into person-to-person Lending... :)

Research the URL's and Pay Attention...

To what some are Doing, including Money requirements & interest rates...

A little Brainstorming & Creativity... (GROI) Great return on investment(s)... ;)

Fast cash just a click away...

People are increasingly sidestepping banks and heading to the Internet to set up person-to-person loans
http://www.theglobeandmail.com/servl...ory/Technology

Phil

Re: Update on Prosper.com... 340,000 members, generating $71-million in Loans...
 

Another business practice - revolutionized by the internet!

Thanks Phil for sharing that... Looks great if you need a "smallish" loan (eg. under $20,000)! (I say that's "smallish" since I'm comparing to the amounts many businesses want to raise, in the hundreds of thousands or more...)

A friend of mine who's of ethnic Vietnamese background told me this. Small person-to-person loans like this happen all the time in the immigrant Vietnamese community. Especially to help start small-scale businesses. I bet it happens in many other communities too.

However, thanks to the internet - the whole idea can go "large-scale" and many more people can benefit...

Viva la (internet) revolution! ;)

Cheers,

Dien

if you can collect the money
 

http://forums.prosper.com/index.php?showtopic=27843

Prosper.com is fine if you can collect the money.
It's an unsecured loan, no collateral.

Re: if you can collect the money
 

Just like with any business and/or financial arrangement...

You've got to Do your Research & Homework...

There are Many people on Prosper and Zopa who have Good incomes to support their loans...

All Verifiable and communications with applicants is a Must and part of the system...

Like with Many in today's society, they've screwed up in their Credit and trying to re-build...

Of course...

Life is Full of Risks...

Especially when you Leave your house each and every Day... :)

Phil