In Need of Money? Borrow from Prosper

(Digital Money World) This isn’t something new. Prosper is the first American P2P online market place that has been heavily featured over the past 2 years in service. With a strong legion of fans, a loan request can be filled up as quickly as 20 minutes upon listing.

Opening a swimwear store? Prosper can also be your answer

Since I’m not an American, there’s no way for me to use Prosper’s service, but good business system never fails to amaze me. Signing up and verifying as a lender is easy, and if you need help, there’s always a live chat function for you to use. I suppose listing isn’t that tough either. And if you have a good credit rating, aces! I can see the difference between a borrower with ‘C’ rating and a borrower with ‘AA’ rating. With a $25,000 cap and micro spreading of lenders, the risks of borrower is definitely minimized.

Is Prosper’s Interest Rates and Fees Friendly?

Here’s one interesting guest post from Tricia, Blogging Away Debt at Prosper’s blog on how much it could save you by using Prosper than using your conventional overdraft facility or even the bank for that matters. It’s a good way to end your credit card debts if you have one (and start cutting them up), or even start to fund your business plan.

Mmn, Prospers! 

Not surprisingly, there’s similar P2P lending sites springing up because of Prosper’s success. Here’s Canada’s answer to Prosper, IOUCentral. Wish there’s something similar in my country that we could use. It can really promote entrepreneurship and healthy social loan to the country’s economy.