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Michael’s Trying Out Prosper

By JLP | February 28, 2006

Michael over at It’s Your Money is Trying Out Prosper. For the three of you who haven’t heard about it yet, Prosper is supposed to be a peer-to-peer lender. To find out more, go to Prosper.com.

Topics: Credit | 3 Comments »


3 Responses to “Michael’s Trying Out Prosper”

  1. Steve Says:
    March 1st, 2006 at 6:40 am

    I’ve just finished opening my first two loans and have one more pending.

    I’ve also started a Money Blogger’s group for anyone interested in joining. See the URL below: https://www.prosper.com/public/groups/group_home.aspx?group_short_name=pfbloggers

    It’s set for 100% sharing so anyone borrowing gets a couple percent back on their loan.

  2. Michael Says:
    March 1st, 2006 at 10:40 pm

    Right now I have only one loan out, but two more are still in the bidding process. If this idea works to anywhere near the potential I think it has, I will be ecstatic. But you can be sure I’m keeping my loan to a very small amount.

    Nothing like throwing your own money into the ring to test the untested.

  3. Tim Says:
    March 3rd, 2006 at 6:22 am

    Has anyone used this service? I’ve checked it out and it seems kinda cheesy to me, especially if the interest is split among everyone…you’re not making enough for it to be worth the time.

    What’s the default rate of the users?

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