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Peer-to-Peer Lending Reviews

I am just curious if anyone has tried the peer-to-peer lenders such as Prosper or Lending Club? What are your honest opinions as either a Lender or a Borrower?

Comments for
Peer-to-Peer Lending Reviews

I've been both a borrower and lender on Prosper.com First used it in 2007 to pay off a high interest credit card balance; and I started lending in 2008. I have invested about $3k invested and continue to bid on high credit score loans (rated A and AA), in $25 bids. I am earning approx. 8%, so I couldn't be happier. I did check out Lending Club, but they don't let borrowers set the rate and have their rate bid down like Prosper does; instead you get what Lending Club decides. Similar on the lender side; you don't bid a rate, you get what you get. So bottom line, I've had a good experience with Prosper; haven't tried LendingClub, but think there model is too much like what banks already offer.






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