Thursday, September 27, 2007

I Have Money to Lend

Are you looking to borrow money? Then I looking to lend money to you and I am not the only person who wants to lend you money. If you have heard of Prosper then you know a little about the company and it's people to people lending service. If you have not heard of Prosper then here is a little info about them.
Prosper, America's first people-to-people lending marketplace, was created to make consumer lending more financially and socially rewarding for everyone. The way Prosper works is intuitive to people who have used eBay. Instead of listing and bidding on items, people list and bid on loans using Prosper's online auction platform. People who want to lend set the minimum interest rate they are willing to earn and bid in increments of $50 to $25,000 on loan listings they select. People who lend can easily diversify using "standing orders", which automatically make many small loans to different borrowers. Borrowers create loan listings for up to $25,000 and set the maximum rate they are willing to pay a lender. Then the auction begins as people who lend bid down the interest rate. Once the auction ends, Prosper takes the bids with the lowest rates and combines them into one simple loan. Prosper handles all on-going loan administration tasks including loan repayment and collections on behalf of the matched borrower and lenders. Prosper's rigid privacy policy reflects co-founder and Chief Executive Officer Chris Larsen's longstanding history as an advocate of stringent consumer financial privacy protection laws and practices. Prosper does not sell, rent, or share members' personal information with third party marketers. Prosper members are in control of how much personal information—if any—is revealed on the website and with other members. Prosper's security and identity verification systems are state of the art, and consistent with those used by banks, brokerages and institutional creditors. Prosper generates revenue by collecting a one-time 1% or 2% fee on funded loans from borrowers, and assessing a 0.5% or 1% per annum loan servicing fee to lenders. Backed by Accel Partners, Benchmark Capital, DAG Ventures, Fidelity Ventures, Meritech Capital Partners, and Omidyar Network, Prosper has raised $40 million. Prosper's marketplace platform is patent pending.
Borrow Money From People. Low Rates. No Banks.

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11 comments:

Preeti said...

I need to clrify one thing,if in case some person has a bad credit history,then are these people gonna lend money

stafford morgan said...

I am seeking a joint venture investment partner (s), creative financing, participating lender and or venture funds. For the purpose of acquiring income producing properties. IE, Multi family aparttment complexes and Mini Malls. The loan amount idealy is $5,000,000 for a term of 3-5 years. With monthly payments of $25,000, 50% share in profits and a 100% return of initial investtment capital.

Ali Wing said...

Working at home will become a necessity for most people with the economy still in the pits. People need to learn how to get creative and use their talents and interest to start and achieve financial success in their own home based business. People will realize that with the lose of jobs and that with no jobs available in the near future, people will need to restructure themselves. I myself, found out what it is like being unemployed, and I do not like it. Luckily I discovered a decent legitimate way to make extra money and you can too. You can check it out at:
http://www.tinyurl.com/btftoday

Thomas said...

My name is Thomas Calabrese, I am married with 2 children i am in need of help. I am tying to save my home. For the past 2 years my wife and I have had some health problems..I was in the hospital 3 times since February 2011 my wife 4 x since January 2011. Because of this we fell behind in our mortgage. I am looking for $25000 I will do whatever you ask me to if anyone can help me..It would be greatly appreciated.. My email is calabrese717@gmail.com

Thomas said...

My name is Thomas Calabrese, I am married with 2 children i am in need of help. I am tying to save my home. For the past 2 years my wife and I have had some health problems..I was in the hospital 3 times since February 2011 my wife 4 x since January 2011. Because of this we fell behind in our mortgage. I am looking for $25000 I will do whatever you ask me to if anyone can help me..It would be greatly appreciated.. My email is calabrese717@gmail.com

Anonymous said...

Prosper is not the place to borrow. They are difficult to get a loan if you have padt credit problems. I have a great job as a nurse, I work a ton of ot and newly remarried, I need a loan for 15000. Just doesnt seem possible:{

Anonymous said...

Anoymous: Try lendingclub.com I have used them with much success (2 loans). I have a great credit score and prosper says my credit score is too low. All three of my scores are over 700.

mary laing said...

Very hard to get a loan with bad credit. I have too many inquiries and my cc balances are too high. I was told this is the reason I don't qualify even though I pay my cc bills on time and I have never been late. So disappointed.

mary laing said...

This is not a good company to get a loan from if you have any type of blemishes on your cc report. I have too many inquires and my cc balances are too high. This is why i was denied, even though I pay my cc bills on time and I have never been late and have been with the same employer for 18 years. So disappointed with prosper

Anonymous said...

No they don't lend to anyone,they only lend if ur credit score is 640,IMO they are no different than a bank.

Anonymous said...

HEY my name is james ellis iam in need of a loan to help my bussiness so can u please help me with this matter thank u. JAMES ELLIS call me at 404-908-4529

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