Prosper and Lending Club on CBS News Nationwide
Prosper and Lending Club were featured on the CBS Evening News (In Credit Crunch, Lending To Each Other ). The video is at the end of this post. I saw the coverage live while watching in between NCAA tourney games.
Useful Info:At a time when credit is hard to come by, more Americans are turning to a new source for money: each other. It’s called person-to-person lending, and it’s expected to rise 800 percent in the next couple of years.
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I figured the decreasing rate of return in conventional savings accounts would be a major driver of new lenders to the P2P lending sites - how much I am very curious. Does it seem that good loans are hard to find on Prosper and LendingClub? Or is there a constant stream of decent borrows?
I keep getting behind on work - I need to try for a Prosper loan again. Any rumors on when Prosper is going to go national and get rid of the state restrictions on interest rates?