Comments on: What is the p2p economy? http://blog.communitylend.com/2008/05/01/what-is-the-p2p-economy/ Starting the conversation about P2P Lending in Canada Wed, 08 Feb 2012 07:28:37 +0000 hourly 1 http://wordpress.com/ By: Alan Browne http://blog.communitylend.com/2008/05/01/what-is-the-p2p-economy/#comment-80 Fri, 02 May 2008 19:14:22 +0000 http://blog.communitylend.com/2008/05/01/what-is-the-p2p-economy/#comment-80 This is a fantastic concept and it works well in Prosper.com and Zopa.

I can’t believe I’m the only Canadian who has been waiting with bated breath since last summer for CommunityLend to get going.

Note: I’m going to be on the lending side of this because Canadian banks offer very little for moderate to large amounts of cash in the way of interest. Watching Prosper.com, it is clear that careful selection of borrowers will bring 5 – 7% returns on cash investments (after fees and defaults). This better than GIC’s and other short-medium term cash investments.

Alan.

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