New Web sites connect lenders and borrowers

Iria · Mar 5, 2007, 03:38 AM

Source: IHT
___________
PARIS: It is a little like Internet dating, but the objective is money.

A Web site based in Britain, Zopa.com, and another in the United States, Prosper.com, have started businesses that connect individuals eager to borrow money to other people willing to lend, offering both sides better interest rates than banks.

"We bring together people who have never met to lend and borrow," said Chris Larsen, co-founder and chief executive of the San Francisco-based Prosper, which has had 140,000 users since it started a year ago. "Somebody who has money should be able to loan it out and somebody looking to borrow should be able to find a lender."

Banking analysts suggest that these hyper-efficient operations, with few employees and no costly real estate, could force changes to established banks.

Mar 5, 2007, 03:38 AM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	New Web sites connect lenders and borrowers Source: IHT ___________ PARIS: It is a little like Internet dating, but the objective is money. A Web site based in Britain, Zopa.com, and another in the United States, Prosper.com, have started businesses that connect individuals eager to borrow money to other people willing to lend, offering both sides better interest rates than banks. "We bring together people who have never met to lend and borrow," said Chris Larsen, co-founder and chief executive of the San Francisco-based Prosper, which has had 140,000 users since it started a year ago. "Somebody who has money should be able to loan it out and somebody looking to borrow should be able to find a lender." Banking analysts suggest that these hyper-efficient operations, with few employees and no costly real estate, could force changes to established banks.