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Why would a borrower use Prosper?

Comment comment by tomtolman on 21 June 2007

Mark - in addition to answering your question in here, Matt has written a deeper response here:

Why would a borrower use Prosper instead of a traditional bank?

He pulls some examples of rates for personal unsecure loans for people with good credit.

    • Key Bank is at 12.24% with $99 in fees for a $5000 loan at 36 months
    • America First CU is at 12.75% for a $1000 loan at 36 months
    • Chase is at 13.49% with $75 in fees for a $2500 loan at 36 months
    • Bank of the West is at a whopping 16.25% with $50 in fees for a $5000 loan at 36 months#
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