prosper
I found a neat site today called prosper.com it is a peer to peer lending site, what you do is lend people money and they pay you around 12% interest, that is much better than going to the bank and getting 4% interest. I though I would share this with people here because this sort of innovation pleases me, I am glad to see the banks losing out, now the savers can get their full return without the banks stealing all the money. What is bad for banks is good for everyone. In the end, I don’t see how peer-to-peer lending doesn’t win. If you think about banks, they are happy to give you somewhere from 1 to 4.5% interest on your money so that they can lend it out to people at rates that are often more than 12% or 15% - even if you have very good credit. The banker collects that fee of 8-10% for his work. Peer-to-peer lending comes along and says, “We want 2% of that banker’s cut and will give you the rest for doing his job of evaluating risk. Oh and if you want we’ll help you evaluate risk by allowing you to invest in historically good loans.” That sounds like a disruptive industry if you ask me.

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You can choose your level of risk, some borrowers are offering 35% interest rate for you to give them a loan. Very low risk is around 10%. Estimated ROI Performance metrics helpHelp Performance metric AA A B C D E HR Average lender rate 10.38% 12.33% 14.49% 17.10% 19.67% 22.87% 22.41% Net defaults -0.54% -2.78% -4.34% -8.75% -9.10% -15.41% -18.34% Adjustment (interest and fees) 0.00% -0.13% -0.24% -0.62% -0.68% -1.32% -1.46% Prosper servicing fee -0.49% -0.50% -0.83% -0.81% -0.79% -0.71% -0.77% Average annual return 9.35% 8.92% 9.09% 6.92% 9.09% 5.43% 1.84% Estimated ROI is intended to help you understand the risks and return associated with the selected loans. Actual performance may differ from expected performance. I would avoid E and HR credit score grades