Well, they must be doing something right because they are still around. Always check the interest rates though to see if they are on par with your credit score.

I would definitely research peer-to-peer lending before stepping in (on the lending or investment side). It is a very unique idea, but its a lot more complicated than people think.

I've never heard of this, so I looked it up and it's still an active lending program. Peer-to-peer lending is a unique idea, but I want to read more of the fine print to see how it really works.

6/17/2009

From what I know personally, this is a very unique service. The lender (Prosper) actually provides you with the loan and is backed by the users, which provide funds that determine your rates. I experimented with this service, but have not been involved in any transactions.

Here is good info for you!
https://www.financeglobe.com/SocialNet/resources/prosperlending

Does anyone have any experience with [URL]http://www.prosper.com?[/URL] It is a community where people give and get loans from one another. I have considered trying the site out, but I want to see if anyone has any feedback about it first...

Cheers.