Comments on: Peer-to-Peer Lending with Prosper http://jonathanryan.org/2007/10/18/peer-to-peer-lending-with-prosper/ Tue, 06 Jan 2009 04:14:51 +0000 http://wordpress.org/?v=2.2 By: Jon http://jonathanryan.org/2007/10/18/peer-to-peer-lending-with-prosper/#comment-4157 Jon Sat, 02 Feb 2008 00:12:36 +0000 http://jonathanryan.org/2007/10/18/peer-to-peer-lending-with-prosper/#comment-4157 Yes, it is perfectly legal. The prosper website explains all of the details if you are interested. It is risky, but if you do a good job picking who to lend to, it isn't too bad. It helps that you get to see credit details, and can view the default rates of people with similar credit. Yes, it is perfectly legal. The prosper website explains all of the details if you are interested. It is risky, but if you do a good job picking who to lend to, it isn’t too bad. It helps that you get to see credit details, and can view the default rates of people with similar credit.

]]> By: sabre http://jonathanryan.org/2007/10/18/peer-to-peer-lending-with-prosper/#comment-4139 sabre Fri, 01 Feb 2008 17:20:39 +0000 http://jonathanryan.org/2007/10/18/peer-to-peer-lending-with-prosper/#comment-4139 Thanks for sharing this extra income source. Sound interesting and risky too. Is it legal? Thanks for sharing this extra income source. Sound interesting and risky too. Is it legal?

]]> By: PeerLend http://jonathanryan.org/2007/10/18/peer-to-peer-lending-with-prosper/#comment-3345 PeerLend Thu, 10 Jan 2008 19:17:01 +0000 http://jonathanryan.org/2007/10/18/peer-to-peer-lending-with-prosper/#comment-3345 If you like Prosper, then: Zopa (who, at the time of this article, operated only in the UK) has launched a US version in partnership with six US credit unions. The model is not quite "P2P", as lenders are asked to purchase a guaranteed CD (~5%), the purchase proceeds of which Zopa will lend out to borrowers (presumably pocketing the spread). LendingClub.com, a completely new player, launched via the FaceBook social networking platform, and has just recently opened to the non-facebook public. Their platform is P2P, but it differs from Prosper's more laissez faire implementation in that LendingClub underwrites the loans, bucketing them into different grades at different rates - doing away with the typical auction process. More info, including side by side comparisons of players, at: <a href="http://www.PeerLend.com" rel="nofollow">PeerLend: Peer-to-Peer Lending & P2P Loan Guide</a> Two more market entrants are apparently ramping up for launch, as well: GlobeFunder & Loanio. The former is in limited testing in a handful of states, the latter in stealth mode, but supposedly scheduled for launch sometime in January '08. In addition to the US for-profit players, there are also are several non-US focused, more "social finance" oriented, services: Kiva.org has seen continued success in lending to third-world entrepreneurs, and eBay has made a recent investment in MicroPlace.com, a social-microlending venture that allows Westerners to invest into individual borrowers in developing nations. If you like Prosper, then:

Zopa (who, at the time of this article, operated only in the UK) has launched a US version in partnership with six US credit unions. The model is not quite “P2P”, as lenders are asked to purchase a guaranteed CD (~5%), the purchase proceeds of which Zopa will lend out to borrowers (presumably pocketing the spread).

LendingClub.com, a completely new player, launched via the FaceBook social networking platform, and has just recently opened to the non-facebook public. Their platform is P2P, but it differs from Prosper’s more laissez faire implementation in that LendingClub underwrites the loans, bucketing them into different grades at different rates - doing away with the typical auction process.

More info, including side by side comparisons of players, at:

PeerLend: Peer-to-Peer Lending & P2P Loan Guide

Two more market entrants are apparently ramping up for launch, as well: GlobeFunder & Loanio. The former is in limited testing in a handful of states, the latter in stealth mode, but supposedly scheduled for launch sometime in January ‘08.

In addition to the US for-profit players, there are also are several non-US focused, more “social finance” oriented, services: Kiva.org has seen continued success in lending to third-world entrepreneurs, and eBay has made a recent investment in MicroPlace.com, a social-microlending venture that allows Westerners to invest into individual borrowers in developing nations.

]]>