Peer to Peer Lending, 3 Ways to Earn

I'm always on the lookout for ways to make money online and I discovered something this evening that I hadn't heard of before. It's called peer-to-peer lending and the program works pretty much how it sounds. I need money, you have money, you let me borrow money and I pay you back. Of course, it's a bit more complicated than that, but what a dream come true!


I've actually had this bright idea myself, but I wouldn't have been creative enough to call it peer-to-peer lending. It's a great concept and with the program I found, there are actually 3 ways to earn money. Depending upon which side of the coin your lifestyle ends up on, you'll find that at least 2 of these ways to earn might pertain to you.

1. Borrow Money
You can sign up with this peer-to-peer lending program to borrow money from investors who have money to lend. All you need to do to complete the application is sign up, choose a loan amount, and list your purpose for the loan. Investors will review your criteria and make a decision as to whether or not they think an investment in your is worth their while. Once an investor chooses to loan you money, you'll make a fixed monthly payment toward the loan. You'll also find some great information on the site regarding loan types and ways to get a loan, plus loan calculators and information about rates and fees.

2. Lend Money
If you've got some spare cash to lend, you can join this peer-to-peer lending program to lend money to borrowers for a potential return on your investment.This too, is a simple process and requires some simple information to signup. You'll set your investment criteria, choose which loans you'd like to invest in and then have a portion of borrower payments deposited directly into your account. Enjoy returns of 10.59% on your investment. The site has an excellent FAQ section and many informative links providing answers to your questions.

3. Affiliate with a Peer-to-Peer Lending Company
The third way to make money with peer-to-peer lending is by affiliating with the company and earning commissions for those people that you successfully refer. You guys know by now that I thoroughly research all programs before I recommend them to you. I have checked out the company's FAQs and policies and also research the scam boards to make sure this whole thing is legitimate. I wouldn't want to make a recommendation to you knowing that you'll end up involved in something malicious. If you'd like to earn affiliate commissions for recommending others to this service, signup as an affiliate on ShareaSale and search for Prosper.

Warnings About Peer-to-Peer Lending
When researching information about this peer-to-peer lending company in particular, I did find some less than favorable information; as is usually the case with any online business. If you intend to take the option to invest, you must remember to be extremely careful which borrowers you choose. Like everywhere, there are scam artists that ask for money with no intention of repayment. The company is taking action against scam artists, however, so make sure to read the FAQs and research in-depth before deciding to invest in a great return for your dollar.

The Good News
I read more good reviews than bad ones regarding this particular peer-to-peer lending organization. Many investors raved about the ROI they realized from lending money. Obviously there are many happy borrowers as well. My recommendation is to take a peek at this company and see if they offer an avenue that can help you. Whether you need to borrow money or you'd like to invest and enjoy a return on that investment, it seems like this could be an interesting and lucrative way to accomplish either goal.

Find out more about peer-to-peer lending here.