Website of the Day: Prosper.com

The website of today is Prosper. Started by the founder of E-LOAN, the idea of the website is to leverage the power of the Internet to allowing individuals to lend and borrow to each other. If you want to be a lender, you can search for individuals based on credit quality and loan size, or any of many other metrics. You bid on an interest rate, and can place a bid for as low as $50. The idea is very similar to Kiva, about which I have previously written, except for the lack of philanthropic intentions and the profit.