Jump to content

Prosper


BLK85
 Share

Recommended Posts

www.prosper.com

 

A friend turned me onto this. It seems like a decent place. But what happens if they dont pay? Is there any recourse? You dont have to fund the whole loan so that is nice. But you also have to wait for them to pay it all before you make you money, but the return is better than a savings account. And most of the loans are debt consolidation which is a joke imo.

 

Has anyone ever messed with peer to peer lending?

Share this post


Link to post
Share on other sites

Not familiar with prosper but I know how lendingclub works which is their competitor.

 

You aren't funding 1 loan. The idea is to invest in a shit ton of loans and spread your risk out. For instance, instead of loaning $100k to 1 guy that needs a loan, you'd loan 100 guys $1000 dollars each. If a few default your risk is still spread out. You're paid interest on the loan.

Share this post


Link to post
Share on other sites

Interesting way to invest money. It seems you can invest a small amount and see how it works out for you. Lendingclub looks to pay you monthly while Prosper pays when it is completely repaid.

Share this post


Link to post
Share on other sites

 Share

×
×
  • Create New...