I want to Prosper, small ad
I have told some of you that I've been researching a new way to invest some of my money. I heard about this company www.Prosper.com through a podcast given to the future entrepeneaurs groups at Stanford University. Simply put prosper allows you to make unsecured loans to peope throughout the country. They teach you good principles of selecting someone to lend to as well as offer the other hassles of lending such as reporting to the credit bureaus, verifying income and credit, and if needed collection.
They have a strong matrix and history of credit ratings that pay and don't pay. I've been watching this thing for over a year and it seems to be very successful whether you need to borrow money short term or would like to earn money short term. Do the research and reading yourself, don't jump on board but either way if you're interested please register using the enclosed link as I will get a credit to my account if you do become a lender.
So far I have only lent out $700.00. It took me over a month to lend it out because their verification procedures are so strick a large number of loans gets rejected even after they are funded when the borrower cannot prove what they stated. I have received my first payment and all my loans are still current.
I earned 1.18 on that first payment pretty sweet considering I lent out $50.00 to someone on a 3 year payment term and that's after fees. I'll share more as it comes up.
posted by Cemseller at 2:20 PM
2 Comments:
I stubled on this blog entry through a random series of clicks, and as a Prosper borrower, I wanted to take the opportunity to thank a Prosper lender. Borrowing a small chunk of change through Prosper gave me the opportunity to open my own business two years ago. All thanks to lenders like you!
They featured my story in a story on Prosper in US News and World Report last year.
http://www.usnews.com/usnews/biztech/articles/070304/12smallbiz.htm?s_cid=rss:site1
Prosper was such a cool, such a different way to scrape together the start-up capital I needed, especially in a situation where the window of opportunity was small and I had to act fast. And banks aren't much interested in lending unless you're already in business.
Anyway - I'm not sure how I ended up in your blog, but I couldn't pass up the chance to say thanks!
Briana
Hi,
I commented here a few days ago. I don't really expect you to respond to this since - well, why should you? I'm just some random internet stranger.
But I'm curious about how lenders choose the people they invest in on Prosper.
If it isn't too much to ask and you have a moment, would you mind sharing with me how you choose? Is it based on how compelling their reason or need is? Their credit ranking (high or low)? Their location? The amount they're borrowing?
I've thought about reinvesting back into Prosper, but in thinking about it, I realize it's a whole different ball game approaching it as a lender than as a borrower.
If you'd rather not publish your answers here, you are welcome to email me at this address: emilybrianne at yahoo dot com.
I apologize in advance if questions like this aren't welcome or if I'm being too invasive.
Thanks :)
Briana Stewart
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