I would like to start lending but,dont know how much risk to take. The computer world is full of online scams.Is this for real or not can I make money?
mike brown
of ID
@
Nov 04, 2008 23:04:58 PM
Loanio Finally Launches!
Hi Matt:
Glad to see you are interested in this great new marketplace!
Your readers may want also check out www.loanio.com, the site just launched last week and offers a place for those with bad credit too--as long as they can find a co-signor...
Mark Scott
Biz Dev, Loanio.com
Mark Scott
of
@
Oct 07, 2008 05:41:13 AM
peer to peer lending.
I haven't done much on yjier site but what I have done is to apply for a loan of $ 2600 which I have promised to repay $5,200 within three months but the only response hat I received was from a lender and he sent me an email stating that he would lend me the money and then he instructed me to go to Bostom. Ma.at two oclock the same day to pick up thr money.
It was impossible for me to get back ther from my home in Idaho so I sent him an email exolaing that I couldn't do as he wished bwcausw for two reaons 1 I couldn't get there that quickly and two it woulf eat up the loan to travel to Bostom and asked if he could send me an email so that I could reply with my banking info so he could direct deposit the funds into my checcking account but he didn'y even bother to answer. So I don't know if he was just joking or not he was for real.
William Funkhouser
of ID
@
Oct 02, 2008 17:23:25 PM
A couple of corrections...
I want to make a couple of corrections to the interviewee's responses...
1 - The most common use for loans on Prosper is far and away debt consolidation, not business financing. Among 2315 listings on the site right now, almost 50% (1151) are for debt consolidation, while only 18% (411) are for business financing.
2 - The assertion that borrowers need to spend 1 to 2 months engaging in the Prosper discussion forums is not accurate. Many first-time borrowers who come to the site and post a listing are funded on their first try. The biggest indicators for whether your listing will be funded are 1) credit grade, 2) bids from friends and family (which get a special designation on your listing), and then maybe other factors such as social standing in the community.
Adam
of NY
@
Jul 11, 2008 10:52:40 AM
I'm down on Prosper...
I got turned down on Prosper due to my "less than stellar" credit score. (apparently, they don't care if you are a responsible person who missed a payment or two due to a BRUTAL divorce or health problems) I'm willing to try anything at this time and heard that Loanio allows ALL people to borrow regardless of your credit score! Hopefully they will launch very soon. I really can use the help!
Will
of NY
@
Jul 09, 2008 13:19:50 PM
Cheer 'em on.
I'm all for "Prosper" and simlar lending matchups that may evolve on the web, even knowing that some of them will moderate over time.
Remember, banks do the same thing. They take deposits and they match those to borrowers. Today, though, the "banks" are taking far too big of a cut from both sides. WHY do you get about 3% on your bank deposits while borrowers (via credit cards offered by the banks) may be charging 12-32%? WHY?
Only because there has not been more citizen-oriented vehicle. So here comes Prosper. Hooray. More, please.
Matt Bandyk, a reporter for U.S. News, explores capitalism from where it all begins, with the entrepreneur, whose risk taking and experimentation provide the roots from which the rest of the economy grows. As much courage as it takes to create one's own business, even the entrepreneur needs some help, and this blog will look at news, trends, and practical advice for starting and running a small business.
mike brown of ID @ Nov 04, 2008 23:04:58 PM
Mark Scott of @ Oct 07, 2008 05:41:13 AM
William Funkhouser of ID @ Oct 02, 2008 17:23:25 PM
Adam of NY @ Jul 11, 2008 10:52:40 AM
Will of NY @ Jul 09, 2008 13:19:50 PM
Daniel David of NM @ Jul 09, 2008 10:19:50 AM
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