Banking 2.0?

Like most Americans, I have loans. And, like most Americans, my loans have high interest rates. Banks and lending institutions have not given us a good alternative to high interest loans without putting up huge collateral - like a home - for a loan based on equity. We're struggling here and we need a hero. Who will save us from our financial woes??

Why, WEB 2.0 of course.

Prosper is based on a really intriguing concept and I think its a great new take on the social good the internet can provide.



Its an "online marketplace for people-to-people lending." Basically, you name your terms for a loan and, if they are fair in relation to your credit rating, the terms will be met by two or more lenders who share the debt. This not only helps the borrower by relieving some of the high interest rate pressure, it also helps the lender by spreading the risk. So check it out! Even if not for yourself, just check out what's happening in web 2.0 besides social networks, games and gossip.








- Thanks to Springwise for clueing me in.