by ClubBlogger
Do You want to Prosper?
12:27 am in New Sites by ClubBlogger
I recently joined Prosper, and I don’t know why I did not find it sooner.I am Making Money by giving people $50 loans. The best part is I borrowed the $1000 I am making the loans with.
I could have invested my own money but I wanted to see for myself how the program worked. I plan to pay off
the loan way before the 3 years they are giving me to pay it back at $33 a month.
If you have not heard of Prosper here is the rundown
Prosper, America’s largest 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 an online auction. Instead of listing and bidding on items, people list and bid on loans using Prosper’s online auction platform.
People who register as Prosper lenders set the minimum interest rate they are willing to earn and bid in increments of $50 to $25,000 on loan listings they select. In addition to criteria commonly used by institutional lenders, such as credit scores and histories, Prosper lenders can consider borrowers’ personal stories, endorsements from friends, and group affiliations.
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 Prosper lenders can bid down the interest rate. Once the auction ends, Prosper takes the bids with the lowest rates and combines them into one simple loan to the borrower. Prosper handles all on-going loan administration tasks including loan repayment and collections on behalf of the matched borrower and lenders.
Prosper is an online community for lending and borrowing money, with over 720,000 members and $146,000,000 in loans funded on Prosper.
Borrowers enjoy fixed monthly payments, no hidden fees and no pre-payment penalties.
Borrowers create a listing and set the interest rate they are willing to pay. Prosper facilitates personal loans, home improvement, auto loans and more.
Lenders place bids as low as $50 toward the loan at the rate they are willing
to receive.
to receive.
Bids with the lowest rates are combined into one simple loan to the borrower.
Loan proceeds are deposited directly into your bank account.
Featured on
Forbes
Wired
Time
Cbs News
Economist.com
You get $25 back as soon as you fund your first loan
I heard about Prosper, but it’s better to make loan throuht our service. All our clients like our service.!!!