2006-08-21 Peer to Peer Microloans: Ted told me about Prosper.com.
Source : Alex Schroeder: Diary
TedErnst has lots of money in Prosper. Basically he loans out small amounts of money $20 to $50 per person, to many persons, at interest rates of around 16% or higher. Some of these will default, but others will pay back. The reason these people accept such high interest rates is that sometimes they have credit card interest rates of 30%, and bad credit, so they can’t get money from a bank [..]
le 22.08.06 à 01:53
dans Mind
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