Prosper, America's first people-to-people lending marketplace, was created to make consumer lending more financially and socially rewarding for everyone.
It's really a new thing! Is it generosity? Let's invest!
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.
They say on the website that "The way Prosper works is intuitive to people who have used an online auction. it's nearly the same! 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 $25,000 on loan listings they select. People who lend can easily diversify using "standing orders", which automatically make many small loans to different borrowers. Prosper handles all on-going loan administration tasks including loan repayment and collections on behalf of the matched borrower and lenders. "
I think it can be developped in the next few years because there's a lack of social links, mix with a lack of money: people needs some help, they need to be trust by someone.....but if we check the interst rates, it's incredible! up to 25%...!
I think it's a shame, because when you borrow 100$ you have to give 25 more, you can't get out of it!........
It's really a new thing! Is it generosity? Let's invest!
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.
They say on the website that "The way Prosper works is intuitive to people who have used an online auction. it's nearly the same! 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 $25,000 on loan listings they select. People who lend can easily diversify using "standing orders", which automatically make many small loans to different borrowers. Prosper handles all on-going loan administration tasks including loan repayment and collections on behalf of the matched borrower and lenders. "
I think it can be developped in the next few years because there's a lack of social links, mix with a lack of money: people needs some help, they need to be trust by someone.....but if we check the interst rates, it's incredible! up to 25%...!
I think it's a shame, because when you borrow 100$ you have to give 25 more, you can't get out of it!........
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