what price range are you looking to borrow. theres borrowing $2,000-$15,000....then theres borrowing $25,000-$100,000. then theres a category of $150,000 +....
have you tried www.prosper.com ?
its a site where individuals like your next door neighbors loan money to anybody who needs it around the world, for anything. theres postings on there from pepole needing loans for wedding rings, baby cribs, baby diapers, cribs. and mid range like your looking for with small business startups. and even higher where people are even post to get help to buy houses!! check it out and let me know what you think
have you tried www.prosper.com ?
its a site where individuals like your next door neighbors loan money to anybody who needs it around the world, for anything. theres postings on there from pepole needing loans for wedding rings, baby cribs, baby diapers, cribs. and mid range like your looking for with small business startups. and even higher where people are even post to get help to buy houses!! check it out and let me know what you think
do you have any personal experience with this site? Interesting concept, but what kink of guarantees do you have people will repay if loan money out. Seems like most people needing money from a site like this with higher rates wouldn't have good credit and might not be a good risk? Just curious
hno:im not sure. they have a pretty good program and system. they explain all and alot of their questions on site. google proser.com, and youll see all types of good info. i have no personal experience. i looked into it because i was starting small business a couple of years ago and they did story on it on ABC, and were interviewing the founder of Prosper and everything. and at the time i had no credit because i was a college student.
but i do know each time you pay off people, your risk rating gets better. they have like different risk levels you earn. and in your profile you also post credit score and income just like any other loan application and it also determines what level you start on. the higher you level/rating the better interest rate group you get in. in case of default, consequences are relative
also you can post a loan amount you need and set a rate. and people can sign on. for example, say you need $5000 and you set interest at 10%. you can have 50 investors each put up $100 each to invest . and you pay back some kind of escrow account on prosper's site. and all the investors automatically get paid. so 50 different people will get $10 in profit.
