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viper548 · October 4th, 2006, 00:11

Try prosper.com It is peer-to-peer lending. Basically you request a loan amount, lets say $10,000. Suppose I've got $1000 to invest. I offer to loan you $1k at a specific interest rate. Other people also bid on your loan. Once your loan has enough bidders anyone else wanting a piece of your loan has to offer a lower interest rate than someone else who already has a chunk of your loan. Go to the website, they explain it much better than I do. Bottom line is you'll probably get a better rate than you would at a bank and investors get a better return on their money.

October 4th, 2006, 00:11	#2
viper548 Senior Member Join Date: May 2003 Location: Colorado Springs Posts: 818	Re: Lowest rate loan? Try prosper.com It is peer-to-peer lending. Basically you request a loan amount, lets say $10,000. Suppose I've got $1000 to invest. I offer to loan you $1k at a specific interest rate. Other people also bid on your loan. Once your loan has enough bidders anyone else wanting a piece of your loan has to offer a lower interest rate than someone else who already has a chunk of your loan. Go to the website, they explain it much better than I do. Bottom line is you'll probably get a better rate than you would at a bank and investors get a better return on their money.