Comments on: What is Peer to Peer Lending? http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/ Your Money. Your Career. Your Life. Thu, 20 Nov 2008 14:01:21 +0000 http://wordpress.org/?v=abc By: Patrick http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-14920 Patrick Tue, 04 Nov 2008 13:48:50 +0000 http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-14920 <strong>Brian: </strong>I don't know if they companies have made a sample P2P financing agreement public or not, but it couldn't hurt to contact them regarding the issue. I have personally funded loans through Prosper and Lending Club and I didn't have any problems with the agreement for the lender. Just keep in mind when lending that the loans are not guaranteed. Brian: I don’t know if they companies have made a sample P2P financing agreement public or not, but it couldn’t hurt to contact them regarding the issue. I have personally funded loans through Prosper and Lending Club and I didn’t have any problems with the agreement for the lender. Just keep in mind when lending that the loans are not guaranteed.

]]> By: Brian http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-14869 Brian Sun, 02 Nov 2008 21:16:51 +0000 http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-14869 I am investigating the idea of offering peer to peer financing. Does anyone know where I could review a sample peer to peer financing agreement? I want to make sure I have everything in writing. Thank you. I am investigating the idea of offering peer to peer financing. Does anyone know where I could review a sample peer to peer financing agreement? I want to make sure I have everything in writing.

Thank you.

]]> By: How to Avoid Payday Loans | Military Finance Network http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-13773 How to Avoid Payday Loans | Military Finance Network Mon, 29 Sep 2008 02:18:33 +0000 http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-13773 [...] Get a person to person loan. P2P loans are unsecured loans similar to what you would get from a bank, but you get them from individuals willing to lend you money based on your credit score and situation. Read more about P2P loans. [...] [...] Get a person to person loan. P2P loans are unsecured loans similar to what you would get from a bank, but you get them from individuals willing to lend you money based on your credit score and situation. Read more about P2P loans. [...]

]]> By: Why I Chose Not To Invest In Peer-To-Peer Lending http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-9636 Why I Chose Not To Invest In Peer-To-Peer Lending Mon, 07 Jul 2008 10:17:49 +0000 http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-9636 [...] the blogosphere there seems to be a lot of excitement about peer-to-peer lending which is the ability to lend money to other individuals through companies such as Prosper and [...] [...] the blogosphere there seems to be a lot of excitement about peer-to-peer lending which is the ability to lend money to other individuals through companies such as Prosper and [...]

]]> By: Making Extra Money With P2P Lending | Rich Credit Debt Loan http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-9381 Making Extra Money With P2P Lending | Rich Credit Debt Loan Wed, 25 Jun 2008 13:51:42 +0000 http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-9381 [...] against non-payments. If you’re looking for an potential way to make extra cash every month, P2P lending is definitely worth [...] [...] against non-payments. If you’re looking for an potential way to make extra cash every month, P2P lending is definitely worth [...]

]]> By: Prosper Roundup — P2P Lending Carnival #3 Edition http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-5717 Prosper Roundup — P2P Lending Carnival #3 Edition Sun, 10 Feb 2008 16:22:49 +0000 http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-5717 [...] presents What is Peer to Peer Lending? posted at Cash Money [...] [...] presents What is Peer to Peer Lending? posted at Cash Money [...]

]]> By: » Carnival of P2P Lending #3 http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-5419 » Carnival of P2P Lending #3 Tue, 05 Feb 2008 23:57:31 +0000 http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-5419 [...] presents What is Peer to Peer Lending? posted at Cash Money [...] [...] presents What is Peer to Peer Lending? posted at Cash Money [...]

]]> By: Carnival of Personal Finance #136 | Green Panda Treehouse http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-4604 Carnival of Personal Finance #136 | Green Panda Treehouse Sat, 26 Jan 2008 01:57:11 +0000 http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-4604 [...] Cash Money Life answers the question, What is Peer to Peer Lending? [...] [...] Cash Money Life answers the question, What is Peer to Peer Lending? [...]

]]> By: Patrick http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-3976 Patrick Tue, 15 Jan 2008 12:07:16 +0000 http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-3976 Hi fathersez, Prosper first lines up the lenders for the loan, which guarantees the loan will be backed by enough people. Once they have enough people to fund the loan, Prosper makes the loan with their money, then sells small portions of the loan to the lenders who had previously agreed to fund the loan. Prosper handles the loan payments and distributions from there. In this case, the people buying the loans are almost like the bank; Prosper just acts as the middleman between the lender and borrower. But you are correct about the lack of overhead causing the rates and associated costs to be lower. It is an interesting concept, and one that I will write about in the future as I begin my investing journey with peer to peer lending. Hi fathersez,

Prosper first lines up the lenders for the loan, which guarantees the loan will be backed by enough people. Once they have enough people to fund the loan, Prosper makes the loan with their money, then sells small portions of the loan to the lenders who had previously agreed to fund the loan. Prosper handles the loan payments and distributions from there. In this case, the people buying the loans are almost like the bank; Prosper just acts as the middleman between the lender and borrower. But you are correct about the lack of overhead causing the rates and associated costs to be lower. It is an interesting concept, and one that I will write about in the future as I begin my investing journey with peer to peer lending.

]]> By: fathersez http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-3970 fathersez Tue, 15 Jan 2008 09:25:14 +0000 http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/#comment-3970 This is a good outline of this P2P thing. We don't have such a thing in our country. It is a very interesting concept. So Prosper makes the loans first then sells down the loans? Do they also handle the collections and pay the "final lenders"? Banks take money from depositors and lend them out to borrowers. Can Prosper be compared to banks, except that it may have a far lower overhead and hence their cut need to be smaller? I must find out more about this. Thanks, Patrick. This is a good outline of this P2P thing. We don’t have such a thing in our country. It is a very interesting concept.

So Prosper makes the loans first then sells down the loans?

Do they also handle the collections and pay the “final lenders”?

Banks take money from depositors and lend them out to borrowers. Can Prosper be compared to banks, except that it may have a far lower overhead and hence their cut need to be smaller?

I must find out more about this.

Thanks, Patrick.

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