Prosper - The Online Marketplace for P2P Lending

The eBay of Loans

clipped from www.prosper.com

1.Borrowers create a loan listing on Prosper, specifying the amount they want to borrow and interest rate. 2.Lenders review loan listings and bid on the ones they choose. 3.Prosper takes the bids with the lowest rates and combines them into one simple loan. 4.Loan proceeds are deposited directly into the borrower’s bank account and lenders receive monthly payments as the loan is repaid.

Prosper: The online marketplace for people-to-people lending - Prosper

related:

• Prosper: The eBay of Loans?
• Peer to Peer Lending with Prosper.com and Zopa.com
• The joys of selfish giving - Opinion - USATODAY.com
• A Loan at Home - TIME
• Options Grow For Investors To Lend Online - WSJ.com
• Peer-to-Peer Lending Offers Solution for Strapped Consumers (Consumer Action: Personal Finance) | SmartMoney.com

Technorati Tags: bank, banking, business, collaboration, community, credit, economics, finance, investing, lending, loan, loans, microfinance, money, online, p2p, prosper, social, web2.0