Prosper.com is basically peer-to-peer lending. You lend to a borrower (or borrow from a lender) and skip the bank middleman. There still is a middleman and that is Prosper.com.

I joined several months ago but did nothing with it. Wifie and I talked this over and we agreed that we would try it out with a small amount. So I invested $ 200. Not much! But not much to lose if it doesn't work out.

Today I bid on a loan that will pay 16%. I'll let you know how it turns out.

I don't see going 'big' into this, but if all goes well, I would like to increase my investment up to $ 1000 and then form a group of like minded friends (a lending-investment club!). I haven't formed a group yet ... so no need to contact me about joining the lending group. But I encourage my readers to check the Prosper.com website out and to comment.

Here are some articles and reviews on Prosper.com:

  1. NYTimes
  2. Wall Street Journal
  3. Blogger review
  4. Prosper: How it works
  5. Blogger review
  6. Business week article
  7. Wiki
  8. Salon

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