All Posts Tagged With: "Prosper"
The peer to peer lending model was born of the belief that traditional banking institutions are charging too much due to many levels of bureaucracy and overhead costs for the institutions. Individuals with less than stellar credit are offered punishing interest rates or denied credit altogether and credit card companies across the board increased credit [...]
A growing number of online startups are beginning to use technology to offer services previously limited to banking institutions. Now these startups are offering the same or similar services at lower prices because of lower overhead and staffing costs. One of the largest of these new companies is Prosper, a peer to peer lending exchange [...]
In the last 12 months, the amount of credit that banks have available to them to loan to customers has drop significantly, as a result 65% of banks nation-wide have tightened up their lending standards making it hard for consumers to get loans for major purchases and to refinance debt. As a result, peer-to-peer lending [...]