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April 13, 2006
Prosper.com: You, Too, Can Be a VC (or "Loan Sharks Go Online")
In an interesting twist on an old business concept, Prosper.com appears to be trying to do to financial loans what ebay did for auctions. It calls itself "People-to-People Lending," where those who need loans can set up profiles and those with funds to loan out can review their options.
So is it an innovative new business model making an end-run around traditional bank lending, or is it just a way for loan sharks to gain some economies of scale?