I made my first Prosper loan back in February. I contributed $100 at 8.4% to a $4,000 loan to a couple of grad students looking to max-out their IRA. Though the loan term is three years, they finished paying me (and the other 47 contributors) back this month.
After making my first three loans and seeing some money come in, in May I decided to really give Prosper a try. Including my initial loans, I invested a total of $10,000 in a series of $50 – $500 loan contributions. Continue reading »
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