Prosper is looking for people who want to get great rates! I wanted to let you know about a new Lender Promotion that goes into effect today but ends June 30, so don’t delay.
First, what is Prosper?
Prosper is a peer-to-peer lending site. On Prosper, borrowers list loan requests between $2,000 and $25,000 and individual lenders invest as little as $25 in each loan listing they select. In addition to credit scores, ratings, and histories, investors can consider borrowers’ personal loan descriptions, endorsements from friends, and community affiliations. Prosper handles the funding and servicing of the loan on behalf of the matched borrowers and investors.
It’s basically a way to cut out the middle man in many loan scenarios. Instead of a bank paying you a small rate and lending out your money at a larger rate, you and the borrower can somewhat “split the difference.” You and the borrower both get a rate better than what the bank would set for you and Prosper handles all the paperwork.