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Prosper Peer-to-Peer Lending

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beltieboy_rivals376542

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Nov 18, 2001
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Prosper.com

Does anyone have any experience with this as an investor? It seems like a decent alternative to traditional stocks.

You can loan out as little as $25 notes to people who need a loan (total between $2000 and $35,000) and base your decision on whether or not to participate in the loan on their provided credit score, reason for needing the loan, etc. Higher risk = higher interest rate.

Since 2009, every person that has put up at least 100 $25-notes has seen a positive return. I realize it's probably not gonna make me a millionaire but seems like it could create some decent cashflow. Anyone have any thoughts/experience with them?
 
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Get Buckets

Well-known member
Nov 4, 2007
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beltieboy said:
Prosper.com

Does anyone have any experience with this as an investor? It seems like a decent alternative to traditional stocks.

You can loan out as little as $25 notes to people who need a loan (total between $2000 and $35,000) and base your decision on whether or not to participate in the loan on their provided credit score, reason for needing the loan, etc. Higher risk = higher interest rate.

Since 2009, every person that has put up at least 100 $25-notes has seen a positive return. I realize it's probably not gonna make me a millionaire but seems like it could create some decent cashflow. Anyone have any thoughts/experience with them?
Click to expand...

So there had been a 0% default rate?
 
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starchief

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Feb 18, 2005
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Willy4UK said:
As a borrower with a suspect credit score, how can I, a high risk borrower, get the opportunity to receive a $50,000 loan from prosper.com?
Click to expand...

A loan shark may be your best bet. Negotiate the "juice" first though. Pay no attention to that thread about feet in shoes washing up on shore. That's probably something else.
 
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Wall2Boogie

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Jan 28, 2010
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Yeah, my lenders aren't always the best at paying me back. The risk/reward isn't always great
 
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Dennis Reynolds

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Sep 29, 2009
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Get Bucket$ said:
So there had been a 0% default rate?
Click to expand...

No, of course not. But the default rate is below the average interest rate paid out. Lending Club is another one (better, I understand). Very interesting business models, though I haven't seriously looked at doing either one. They are legit though, LC is a public company. The stock has been crap though.
 
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Get Buckets

Well-known member
Nov 4, 2007
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Dennis Reynolds said:
No, of course not. But the default rate is below the average interest rate paid out. Lending Club is another one (better, I understand). Very interesting business models, though I haven't seriously looked at doing either one. They are legit though, LC is a public company. The stock has been crap though.
Click to expand...

I misread his post.
 
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UKserialkiller

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Dec 13, 2009
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starchief5 said:
A loan shark may be your best bet. Negotiate the "juice" first though. Pay no attention to that thread about feet in shoes washing up on shore. That's probably something else.
Click to expand...

But Starchief, I like the 0% default rate from prosper.com.
 
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