I joined Prosper.com recently. What is it you ask? I'll tell you... even if you didn't ask. After all, you are here right?
Prosper.com is a site that brings forth a great concept. In the simplest terms I can tell you, it provides the tools and mechanisms and supports all the logistics for you to make a loan to anybody.
Well almost. Someone that wants to borrow money still needs to have their credit checked and identity verified by Prosper.com. But even if they have bad credit, they may and probably will still get a loan. Unlike a bank or credit union, Prosper does not decide who gets loans or who doesn't, you do. I do. This is the cool thing about the site. After you register and login, you'll have to fund your account and wait some days to get your money in there before you can start lending. If you're looking to borrow money, the process is a little different and I can't tell you yet exactly how it works because I haven't been through the borrowing process. I joined Prosper to be a lender.
My account should fund today and I'll probably make my first couple loans this afternoon. I will come back in a couple days to tell you all about it and give you a better view into how things are going. The great thing about it is that you can start with as little as $50.00. Potentially, you could turn those $50.00 into $80.00 or more in a very short term. I'll keep you posted.
check out Prosper.com.