Brother can You Spare a Dime . . . or $25K?

Christmas bills are mounting up, that new start-up business needs an influx of cold hard cash. And we already know, it’s not coming from Heaven.

This morning on FOX News they reported a story on Peer-to-Peer Loans. How entrepreneurs are now reaching out to other entrepreneurs –  and private investors for business loans. Tired of waiting six months for a bank loan, never mind the regulations, restrictions and the possibility of being rejected,  it’s seemingly becoming the new wave in financial transactions, a way of lending without the intermediation of a traditional financial institution.

When you look at it carefully, you will realize that this is how lending was accomplished centuries ago, before banks emerged and became the norm: communities borrowed and invested directly in its members.  The Internet has now made this concept available to virtually anyone, offering an opportunity for borrowers to get better rates, and investors to earn better returns.

I say this is a good thing, along with the barter system and any other way we can keep Big Brother out of our pockets and our lives. So, I have to ask Brother, can you spare enough for that smokin’ hot Lamborghini Aventador LP 700-4 Christmas? A cool $387,000 should just about do it – tax and license is on me.

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2 comments on “Brother can You Spare a Dime . . . or $25K?

  1. I caught this and thought I’d put my $0.02 in. I currently use Prosper.com to invest about $50-$100 a month. When payments come in from the notes (portion of loan I buy/fund), I roll that money back into someone elses loan. For a $50 investment, the payments for a $3,000 3 year note are around $2 a month.

    I figure if I loaned it to the kids, the return would be much lower, possibly not at all. I try to loan to high risk, or bad credit people doing common sense things with the loan. It is surprising how many ask for a loan and put nothing further than a title on the request. Home Repair. What is that? A new roof, a jacuzzi? I don’t fund those types of ambiguous loans.

    I have also looked into lendingclub.com as well, but the fine print says you have to make over %70k a year and have over $70k in net worth. That is not including real estate, cars or the like. Just $70k in net worth other than those items. Do Lego bricks count? Needless to say, I did not sign up for that one.

    I highly recommend this as a way to help you pay it forward, while still hedging your bets so you don’t lose all your investment. You help people who can’t get it through normal channels and I’d rather risk $50 on a stranger who really needs a chance, a hand up, not a hand out. Check it out!

  2. Nice to have an actual participant chime in – it sounded good to me . Prosper was the one they were touting. We invested a good part of lives in opening and operating a homeless shelter – another way to invest, but with different dividends.

    Have a restful, if possible, Christmas and let us know what you’re cooking.

    * Keep Looking Up *

    ________________________________

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