I have not used Prosper.com myself, but I am interested in becoming a lender probably next year. Prosper is a place where you can hook up with someone and work directly with them to loan (or borrow) money. You can get better interest rates then with the bank as a borrower and lenders can make more then with a bank.

One thing that I think is cool is that you can pick how much to loan to someone. An example is someone is asking for a $25000 loan, you can say okay I’ll loan $2500. You don’t have to loan the entire amount they are looking for.

I think it sounds like a great system. I would enjoy reading stories and picking who to lend to. I’ve read from other money bloggers about their experiences and have yet to find a bad one. Of course nothing is perfect so do your own research before you decide.

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This entry was posted on Wednesday, January 31st, 2007 at 5:51 pm and is filed under Blurbs. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.