Peer to Peer Lending

Microcredit and Pre-Bankability

November 4, 2009

In 2006 Muhammad Younus and the organization he founded, the Grameen Bank in Bangladesh was awarded the Nobel Peace Prize for their work in providing loans to the poor in an effort to provide a means of self-employment and a hopeful path out of poverty. As he tells in his book, “Banker To The Poor: [...]

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DINKs Loan on Kiva Again

August 30, 2009

We DINKs have been loaning out money on Kiva.org for a number of years. It doesn’t pay interest and it isn’t much money, but it feels like a good gesture of giving out to the universe. This time around I’ve loaned money to El Paraiso Group in Peru. In the past I’ve donated to someone [...]

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Deadbeats At Prosper.com

July 29, 2009

Hi All, I got this email yesterday. Its from the peer to peer lending company prosper.com. Basically, the company is saying that the number of deadbeats on their website is increasing. I’m posting this as a bit of a consumer advisory. If you are interested in getting into person to person lending, be aware that [...]

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Peer to Peer Lending Recommendations

July 16, 2009

Hi All, If you want to get into peer to peer lending, an interesting bloomberg article just came out today on the subject. To add come context, here are our recommendations regarding peer to peer lenders. 1) Prosper.com AVOID. Prosper doesn’t do as good a job managing their borrowers as other alternatives in the industry. [...]

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Free $25 From Lending Club

February 23, 2009

Hi All, If you’re considering getting into person to person lending, you might be interested to know that Lending Club is offering a $25 dollar sign up bonus for new lenders. How it works is you sign up via the link below, and then you can either lend the $25 or withdraw it. The link [...]

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More Bad Press for Prosper.com

August 29, 2008

Hi All, If you’ve got any money in peer to peer money lending outfits like prosper.com, you’ll definitely want to check out the latest piece from the MotleyFool. Among other points, the article outlines the companies deteriorating loan situation, “And far too many of those loans are going sour — fast. Fully 18.5% of all [...]

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Should Prosper Be Learning Internationally?

June 25, 2008

I am now in Bangladesh for a month, leading another group of Afghan faculty members on a leadership study tour. One great thing about international travel is that it opens your eyes to business can and should be run. So, I’d like to share a bit about my thoughts on how Prosper.com might be able [...]

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Another Prosper Borrower Goes Bankrupt

June 19, 2008

Just got his in my email inbox this afternoon. I feel it vindicates our decision to pull our money out of prosper. ———————————————————————————————— Dear James, One of your Prosper loans has defaulted due to bankruptcy. There are insufficient assets available through the bankruptcy to pay the borrower’s unsecured creditors, and therefore you will not receive [...]

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What’s Up With LendingClub?

April 17, 2008

Hi All, As frequent readers of our blog know, we do a little bit of money lending on the side. Mostly we do this through two websites, Prosper.com and LendingClub.com. Well, a few weeks ago, LendingClub.com put a cryptic announcement on their site saying they wouldn’t be accepting any new lenders for an unspecified period [...]

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Stress Free Debt Reduction

April 9, 2008

Hi All, As frequent readers of this blog will know, we are currently in the midst of paying off our second mortgage. Well, I am happy to report that we’ve got the debt down to $11,400 from $17,700 at the start of this year. So far, we’ve done two major things to chip away at [...]

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