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April 7th, 2006 at 05:20 pm

My sister sent me the link for Prosper. I was intrigued. I thought that I'd give it a try being a lender. I took out half the money out of our ING Account, which wasn't that much to begin with, and placed in a prosper account. Once the money was transferred, I started browsing the loans. I placed a bid and 7 days later I won, I did that a few times and I've lended out all the money that I put in. I received my first payment 2 weeks ago and it feels good to know that I helped someone out and that my $$ is growing a little bit faster than in my savings account.

5 Responses to “Prosper”

  1. Thrifty Ray Says:

    Ive never heard of Prosper...but it sounds interesting!

  2. Frugal Momma Says:

    Glad you are having a good experience with Prosper. I am still a little skeptical of it.

  3. joie16 Says:

    I haven't borrowed any money but I have lent it out. I've received two payments so far, principal + interest. I'll see how much interest I've gained after the 1st year.

  4. Frugal Momma Says:

    I would be afraid of deadbeats not paying up. I am looking forward to tracking your progress.

  5. joie16 Says:

    Hi Frugal Momma! I'll let you know how things progress. I was afraid of people not paying up too. I didn't lend out too much and read through a lot of listings before I bid on them.

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