Fed Cuts Interest Rates — Now is the Time to Buy a Zopa CD

For the regular reads this may be a bit of a rehash (Fed Cuts Rate 75 Basis Points — I bought a Zopa US CD at 5.1%), but the fed cut rates again today… If you have been considering buying a CD now is the time a Zopa is the place. They are currently offering a 3.75% APY.

Buy buying your CD with this link you will be helping to reduce the interest rate of my Zopa loan. Zopa took best in show honors at finovate based on a presentation where the CEO Doug Dolton had everyone thinking it was possible to get a negative interest rate loan. I am not disputing that it is possible, in fact I hope it happens to me.

To that end, here is my standing offer… If you are a blogger/website owner/operator and buy a Zopa CD that helps my loan I will give you a permanent link in this post. If you help my loan by $1/month or more I will give a link in this post and my blogroll. (Huge discount against my ratecard.)

So how about it? Get a a great rate on a CD, help a blogger with his loan, and get a link(s) in return.

Regardless, more on Zopa at finovate tomorrow.

4 Comments | April 30, 2008 | Filed Under Zopa | 4 Comments

Quick Finovate Comments — Loanio

I will have bunch more to say about finovate startup from netbanker when I have a chance to write it down in a form worthy of publishing, but felt like I should say a few quick comments about the future p2p lending upstart: Loanio.

I had the pleasure of speaking with founder Micheal Solomon (founder and CEO) after the demo and here are the highlights…

Like Prosper in terms of reverse dutch auction.
Allows for co-borrowers (co-signers) and requires co-borrowers for low scores (Experian VantageScore, no floor set yet for co-borrower).
Not worried about the legal issues surrounding Lending Club “quiet period“
Launching in the next “2-3 weeks”

In summary, loanio looked like a Prosper clone with the added feature of co-signers… It could be interesting… stay tuned for the rest of the finvovte details and any loanio information.

1 Comment | April 30, 2008 | Filed Under Loanio | 1 Comment

For Sale: P2P Lending Technology

(Editor’s Note: This is a serious post and potentially a great opportunity for the right 3rd party. This offer does NOT involve Loanio.)

Company looks to sell all rights to its proprietary P2P lending technology. The company has been quietly in development for the past year, though has now decided to halt launch plans for undisclosed reasons.

It has developed a complete P2P lending web application that will provide any aspiring P2P company with technology to support rapid deployment in any geographical market. It is based on the popular auction-style bidding format for lenders. Front end is fully branded, and sale can be made to include branding, or packaged as a white-labeled solution.

Terms of sale can be negotiated to include customization, enhancements, and project management / consulting.

This is an extremely rare opportunity to acquire the world’s only out-of-the-box P2P lending system allowing the purchaser to enter the red-hot Person-to-Person Lending space.

All enquiries should be directed through the website at: http://p2ptechforsale.com/

Technical specifications, terms of sale, and all other questions will gladly be discussed under terms of a standard Non-Disclosure Agreement.

Serious enquiries only, please.

2 Comments | April 28, 2008 | Filed Under Site Review, Tools | 2 Comments

Programmer and Blogger Seeks Debt Consolidation Loan

My Prosper Group is proud to present our first listing… This listing is attempting to put the social in social capital. Deep Market also posted the following Social Lending is not Socialism.

He has been a member of my group, following the p2p lending market and commenting on RateLadder for some time.

He is a computer programmer and independently runs the stock market blog Deep Market.

The loan will be a straight forward debt consolidation… Reducing his credit card rates and putting himself on a payment plan will help him eliminate this debt faster…

The debt accumulated from a failed attempt at running his own consultancy… He is back to work with a steady paycheck and cash flow is no longer the issue…

I bid $126.76 @ 1%…

He is in a “moderate” portfolio plan slice at 12.4%… All bids welcome, but if you want to ensure you are on the loan please bid under 12.4% (11.73% as a final rate would have an estimated yield of 8%)…

Here is what prosper says about that slice…

Minimum bid rate: 12.40%
Estimated loss1: -2.59%
Adjustment2: -0.14%
Servicing fee: -1.00%
Estimated return3: 8.67%

Here is the listing.