Saturday, June 17, 2006
Prosper: Online People to People Lending
Interesting concept for bypassing traditional banks. Prosper hooks up people willing to lend money and get a good return on their investment and people needing loans. People must join a group to get a loan and part of their credit grade is connected to the group's credit grade. This is somewhat similar to traditional Asian prosperity groups.
I have place this in political as it bypasses normal institutions except for their use of the credit scoring companies. Some church groups are involved in lending money or seeking money for projects.
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