Just wondering what the experience has been like from the lender and borrower perspectives.
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Anyone use prosper.com or lendingclub.com?
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Last: 15 yr ago by Nom de Plume
A friend of mine used virginmoney, I believe.. Richard ?, the billionaire owner of Virgin Records started it.
I've had this presented to me before, and I think it has a "contract/terms".
I've had this presented to me before, and I think it has a "contract/terms".
I have used Prosper for several years, and it has its ups and downs.
I lent out about $1,000 in $50 increments to AA/A/B credit borrowers, with good fundamentals, but even some of them have defaulted.
The loans that did not default have produced strong gains (avg. around 12%), but the defaults kill all profits.
As a borrower, I think its great, but as a lender, I would not recommend it.
I lent out about $1,000 in $50 increments to AA/A/B credit borrowers, with good fundamentals, but even some of them have defaulted.
The loans that did not default have produced strong gains (avg. around 12%), but the defaults kill all profits.
As a borrower, I think its great, but as a lender, I would not recommend it.
There's a thread on TA -- I think it's on AO -- about lendingclub.com. Looks like folks average 7-9%. I was going to give it a try but it's prohibited in Texas and it makes registering an account a pita.