If you are looking for high Return On Investment (ROI), and a small amount of risk is acceptable to you, a Person to Person (P2P) may be for you. With rates in the 9 to 12 percent range with a AA credit rating, it is almost too good to ignore. Read on to learn more.
Things You'll Need
- Adequate funds that are not immediately needed
- Computer with Internet access
Click to enlargeDetermine if you have enough financial assets and cash to keep you afloat before considering lending for your money for long term periods of time. If you do not have enough income or are to conservative for long term lending, please do not attempt a P2P loan.
LEND MONEY OR BORROW MONEY
Click to enlargeGo to Prosper's website (see link below) and read all relevant information. Please take note of the risks of P2P lending. Consider your own financial needs before lending to anyone or chasing non-secured forms of income.
MULTIPLE PORTFOLIOS TO CHOOSE
Click to enlargeComplete the lender application and follow the instructions Prosper's lending process.
That's it! You are now a pseudo-banker lending your money. Congrats!
Tips & Warnings
- PLEASE RATE THIS ARTICLE AND/OR LEAVE COMMENTS!
- P2P loans (also called Hard Loans) are not a guaranteed source of income. The amount of return you receive is proportional to the risk. Also known as "the greater the risk, the greater the reward." Therefore, if you invest in high risk loans, you might not regain your initial investment.