First, the Disclaimer: I cannot guarantee you’ll make any return, in fact you may lose money. I am not an investment adviser and this should not be
construed as investment advice. It is merely my impression of a service. Only you and a registered investment professional can make determinations regarding what investment is right for you.
OK now for the good stuff.
Prosper is an online peer to peer lending service that is offering high return rates depending on the credit rating. Typically, 8% to 20+% depending on the person’s credit score, and how quickly they need money.
When a borrower signs up and joins a group, the interest rate can get lower because the group will pressure the borrower to repay the loan. After all, the group depends on its rating to get the low interest rate. A little peer pressure can go long way.
As a lender, you can make much more money than a regular savings account. However, as with any risk, there is a chance you could lose all of it. IF the account goes into collection, the collection agency will also take a cut. Overall , though the risk is pretty good and who does not want to make double digit interest on their money.
Prosper Special
Prosper has a special for HomeBizChat readers and I have set up a group for all HomeBizChat readers who want to make money on their savings.
First, as a special offer, prosper is offering you $25 if you sign up as lender and fund one loan. The minimum amount to “fund” a loan is $50. That means if you lend someone $50 at a great interest rate, Prosper will pay you $25. In addition, they’ll give me $25 for sending you their way. But hurry, this limited time offer will only be around until December 31, 2007.
Click here to sign up now
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