 Search the Knowledgebase |
 Browse by Category |
|
|
|
|
|
| What is Prosper? |
| User Opinions |
|
No users have voted.
|
|
Thank you for rating this answer.
|
Prosper is a marketplace for credit that enables people to lend money
to other people in a safe, efficient manner. Prosper is a leap back to
a time when people formed credit communities to help themselves live
better lives and earn a fair return on their money. Prosper's founding
principle is that people from close communities act more responsibly
towards each other. Prosper leverages this powerful concept of group
responsibility and applies it to person-to-person lending—resulting in
better interest rates for people that borrow and lend.
Prosper enables people to create groups, which borrowers join to
request loans up to $25,000 by posting listings indicating the maximum
interest rate they wish to pay. Lenders search for and select these
listings based on the borrower's credit, debt profile, and group
affiliation. Lenders bid on listings by indicating a minimum rate they
are willing to accept. When a loan is matched between borrower and
lender, Prosper handles all of the tasks needed for payment and
collection of the loan.
|
| Visitor Comments |
|
No visitor comments posted. Post a comment
|
| Related Questions |
|
No related questions were found.
|
| Attachments |
|
No attachments were found.
|
Print this page
Email this page
Post a comment
Subscribe me
Add to favorites