Earning Great Returns Lending Money Online
The idea of lending people money online is a fairly new one and the possibilities are intriguing. A peer-to-peer lending site launched about a year ago Prosper.com (founded by the VP of Paypal) allows people to lend and borrow money online from each other. Prosper has become a huge hit with over $100,000,000 in loans and over 50,000 members in it’s first year of operation. Its unique business model allows you to limit risk by making many small bids of $50 or more on multiple loans. So instead of lending a $1000 to one person you are lending it to 20 people and if one or two happen to default you are still making money. You can pick who you loan to based on information including their credit rating, verified income, debt to income ratio and more.
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