ST Alpha - "It's sorta like Kiva except it's peer loans to other US folks and they pay interest" (Reading a Post)

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In response to "never heard of it. -- nm" by znufrii

It's sorta like Kiva except it's peer loans to other US folks and they pay interest

Posted by ty97 Apr 16 '13, 09:26

The majority are for debt consolidation loans to (supposedly) pay of credit cards. Some are for other things like small business investments, medical expenses for dream vacations (not gonna happen on the last one, sorry kids)

Responses:

So, the old Prosper.com? -- nm - znufrii Apr 16, 09:34 2
- A competitor of Prosper -- nm - ty97 Apr 16, 09:35 1
  - ah. didn't realize they were still around, they had run into some regulatory issues a while back, I think... -- nm - znufrii Apr 16, 09:36
are you guaranteed your baseline investment in any way, or can you have 100% loss? -- nm - colin Apr 16, 09:30 3
- As with any loan/investment, you can lose up to 100% of your investments. - ty97 Apr 16, 09:33 2
  - one last question (i'm interested :) ) - how is income from these loans taxed? -- nm - colin Apr 16, 09:38 1
    - They issues a 1099-OID apparently. It's interest so standard marginal tax rate applies. -- nm - ty97 Apr 16, 09:43

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It's sorta like Kiva except it's peer loans to other US folks and they pay interest

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