Re: Earn 7.75% on your investment of $50 to $9k
Basically Prosper.com is trying to become the eBay of personal lending. People tell you their story, their credit rating, their debt/income ratio, the max. interest rate they're willing to pay, and how much money they need. Then people bid on how much money they're willing to loan them. Right now all of the loans are for a maximum of 3 years, but there are not any pre-payment penalities. None of the loans are secured by anything, but Prosper.com does promise to report good and bad info. to credit reporting agencies.
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