Comments on: Why Borrow from a Bank when you can Prosper?

By: Prosper Roundup — P2P Lending Carnival #3 Edition

Prosper Roundup — P2P Lending Carnival #3 Edition — Sat, 17 May 2008 15:48:18 +0000

[...] presents Why Borrow from a Bank when you can Prosper? posted at Money Smart [...]

By: Patrick

Patrick — Wed, 06 Feb 2008 00:01:20 +0000

If I needed the money, I would certainly consider borrowing money from Prosper or Lending Club. As it stands now, I currently have loans out with both platforms. They are too early along to report earnings or losses though. I think it is an interesting concept.

By: Panther

Panther — Sun, 13 Jan 2008 23:48:49 +0000

New to social network lending. I have heard of prosper.com I thought they were a mentoring organization for real estate/ internet marketing. I will have to review if this has changed.

I sounds like a lot of paperwork to control 200 $50’s and borrower’s risk ability needs to be addressed.

I work with private money and we work similarly in the IRA investment and private banking concept.

Is the money in social lending cash/credit or IRA funds? Can you tell me where I can find the best info and resources? I enjoyed the enlightenment from this article.

You provided me with a new way to work on building my business’s financial strategy.

By: WealthBoy

WealthBoy — Thu, 10 Jan 2008 21:21:36 +0000

I agree with Blaine. I would borrow from a peer-to-peer lending site if I could get a better rate than with the bank. I’d consider them to just be another lender like any other.

By: Jason

Jason — Thu, 10 Jan 2008 04:03:52 +0000

I have lent some money on prosper and so far so good. Their are also other alternatives to prosper that probably worth checking out. Zopa and lending club, for example. From what little I have use lending club they are more or less the same as prosper without the bidding process. Lending club is running a referral bonus like prosper's rite now. $25 once you fund your first loan

By: EA

EA — Wed, 09 Jan 2008 22:54:05 +0000

I would use Prosper to borrow money (if I needed an amount that fits within their guidelines and could wait the time it takes to fund). I have loaned some money on there, and it’s been a bit of a failure.

I picked some widely different loans and some of them defaulted while the best one paid off early. So for me it didn’t work out but that might be my loan-picking skills.

http://www.freezinginnh.com/2008/prosper-update/

By: Blaine Moore

Blaine Moore — Wed, 09 Jan 2008 18:24:19 +0000

I would only be willing to borrow through prosper if I could get a better rate there than at the bank. Right now I am lending on it.