In the past I have often talked about managing money and investing on this blog. Finances, are something that I love and I am very excited about! One of the more unique ways of investing is through a website called Prosper.com. I discovered this site about a year ago and have rarely ever said anything about it on this blog. In fact the only reason I am writing about it now is because I just left the website Prosper.com. Prosper is like the Ebay of the personal loan industry.
Someone looking to get a personal unsecured loan would go to Prosper.com and apply for a loan between $1,000 to $25,000. Once someone applies for the loan it would go up for bid and anyone and everyone could bid on a small part, up to the entire amount of the loan. Typically a loan would be up for bid for 7 days. If the loan gets funded then the person requesting the loan will get the money they requested. The very next month they will start repaying the loan and you will get your portion of that loan repayment including interest.
Prosper.com is great because you can literally start investing in loans with as little as $50. Also it's almost like owning your own lending business. Plus, you can earn much more than you can with a Money Market or Traditional CD. For example, I just bidded on a loan that will earn me over 15% interest if I win that loan. Not to mention it's alot of fun bidding on loans! The key to success with Prosper.com is by successfully screening and picking great loans. It takes a little bit of practice but it really isn't that difficult. Just thought I would share that with you. Have a blessed day!
Freedom is a Decision,
Jackie O'Quinn
1-800-620-3019
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