Prosper.com is a peer to peer lending service where the company acts as mediator between people who want to invest and the ones who need money. In simple words prosper loans provide a platform where people can lend and borrow. Prosper loan is the largest firm dealing in peer to peer lending Prosper loans simply eliminate the mediator in the traditional loan structure and links individuals for meeting their respective money needs.
Advantages of Peer to Peer Lending
- Credit score: The main highlighting feature of peer to peer lending is that the effect of credit score is minimal. The clients who are low in their credit scores can also have an opportunity here as risk loving investors seek out for more risky investments anticipating huge profits. Therefore a lot of hope rides in this industry.
- Interest rate: Another attractive factor of this industry is the interest rate and its choice. Investors have an option to select an interest rate which matches the requirement of the investor. Usually any interest rate more than the bank rate is considered as good. This factor attracts many investors.
- Quick: Next feature that attracts people into this industry would be the platform of the operation that is entirely based online which means quicker execution of transactions.