Prosper is a peer-to-peer lending service that brings in Lenders and borrowers together on its platform. The borrowers borrow money from a number of lenders and lenders lend money to a number of borrowers. Prosper can be very attractive to both borrowers and lenders. Started in 2006, California based Prosper.com is currently the largest peer-to-peer lending service with over 1.25 million members and 350,000,000 in funded loans. Prosper offers borrowers loan rates as low as 6.59% depending on credit-worthiness and return rates as high as 38.54%. Both borrowers and lenders eliminate the need to get a loan through a bank by working directly with…
