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  1. #1
    Newbie dannicole2112's Avatar
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    January 18th, 2005
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    This could be a good way to invest your affiliate earnings
    Has anyone heard of www.prosper.com? It's a peer to peer lending network, stuctured in a similar way to ebay. In fact one of the funders of this site is the guy who originally started ebay (forget his name). Just curious what people's thoughts are as I often lurk here and read.

    Dan

  2. #2
    Moderator MichaelColey's Avatar
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    It seems like an invitation for fraud to me. I wouldn't be surprised if there were regulatory issues as well.

    No thanks.
    Michael Coley
    Amazing-Bargains.com
     Affiliate Tips | Merchant Best Practices | Affiliate Friendly? | Couponing | CPA Networks? | ABW Tips | Activating Affiliates
    "Education is the most powerful weapon which you can use to change the world." Nelson Mandela

  3. #3
    ABW Ambassador JJJay's Avatar
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    Sounds legit with several serious backers

    http://www.businessweek.com/technolo...213_147523.htm

  4. #4
    Moderator MichaelColey's Avatar
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    I don't have any doubts about the company or it's backers, just the people who apply for a loan on it. Most are probably fine, and the concept sounds neat, but it seems like it would be easy for people to defraud others.

    If they're going to compare it to eBay, think of it this way... What would eBay be like if the buyer didn't have to pay until they received their item.
    Michael Coley
    Amazing-Bargains.com
     Affiliate Tips | Merchant Best Practices | Affiliate Friendly? | Couponing | CPA Networks? | ABW Tips | Activating Affiliates
    "Education is the most powerful weapon which you can use to change the world." Nelson Mandela

  5. #5
    Member seWEB's Avatar
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    February 9th, 2005
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    It's one of those things thats a great idea ... until unscrupulous fraudsters get started with it. When it comes to real money and payment programs, feedback will never replace a credit score.

    One good thing about it though is that they've taken steps to attach payment/non-payment to credit scores.

  6. #6
    ABW Ambassador Sam Bay's Avatar
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    I like the idea but until I see that the system offers some solid security, like FDIC insurance, I wouldn't be convinced to be part of it.

    But, I see a great potential if it works:

    If I invest $5000 with emigrandirect.com at 4.25%, after 36 months I'd have: $5,664.98

    If I lend this guy my $5000 at 12.50%, and invest the monthly payment I receive with emigrantdirect.com, after 36 months I'd have: $6,424.95

    That's 114% better return than a conventional investment.

  7. #7
    I like traffic lights
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    If you have spare cash, I'd be converting it to Euros.

  8. #8
    Affiliate Manager DavidVanHook's Avatar
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    interesting concept. Will follow it for a few months.

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