Jan 17 2009
Make Extra Money with Peer to Peer Lending
A way of making extra money that has had excellent results for me is peer to peer lending. Peer to peer lending or P2P for short is a social, auction based, peer lending platform where individuals can borrow or lend money to each other. The idea is that by cutting out traditional lenders, and adding an auction based element, borrowers can get lower rates and lenders can get higher returns than other banking options.
The current players in the P2p market are Lending Club, Loanio, and Prosper. Only Lending Club is accepting new lenders at this time though. They are also offering a $50 bonus to new lenders. I can’t post a referral link since that is against the Today.com rules but if you are considering becoming a lender you can probably find a link somewhere. I have made nine loans at Lending Club and have not had any defaults or even a late payment.
This is an attractive way to make passive income. I would not put all of your investment portfolio in P2P lending but it is an investment to consider putting part of your money in. I’ll have more specifics about P2p lending tomorrow.
