Has anyone out there been a "lender" on a peer-to-peer lending site?

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And if so, how has it worked for you? Have you made OK money? Lost any? Defaults? How often do you get a payment?

I deal right here in the good old USA. I joined Prosper.com last April and help fund ten loans so far. They do all of the work, paperwork, I just lend money and collect. I have one loan that went bad but I am waiting for a 1099b regarding that one particular loan so I can complete a Schedule D for my income taxes. I lost $96. I have lended over $1,100 so far, collected $62 in principal and $42 in interest. Borrowers can borrowed 25K and have three years to pay. Here is their site: http://www.propser.com/join/heyhobbs

Posted in: peer lending sites Comments(2) September 2009


2 Responses to “Has anyone out there been a "lender" on a peer-to-peer lending site?”

  1. llazyiest Says:
    September 29th, 2009 at 1:11 am

    not sure about peer to peer.. i loaned on kiva.org which is one where you are helping those in developing countries directly but not for profit.. I made 2 loans. Payments have been regular, made to a holding account until the total is received after which it is distributed back to the lenders.
    References :

  2. Gary Says:
    September 29th, 2009 at 1:36 am

    I deal right here in the good old USA. I joined Prosper.com last April and help fund ten loans so far. They do all of the work, paperwork, I just lend money and collect. I have one loan that went bad but I am waiting for a 1099b regarding that one particular loan so I can complete a Schedule D for my income taxes. I lost $96. I have lended over $1,100 so far, collected $62 in principal and $42 in interest. Borrowers can borrowed 25K and have three years to pay. Here is their site: http://www.propser.com/join/heyhobbs
    References :

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