Idea: Localize the prosper.com aggregation service

[AshanD]

Some of the biggest businesses online are nothing more than a meeting place for customers. For example, Prosper.com brings together creditors and debtors.

I am thinking about taking a concept like this and localizing it. I imagine a localized site would have the advantage of not requiring everything be handled strictly online. Besides that, my marketing (online and offline) will be targeted towards a very specific region, so I should be able to carve out a niche by doing this.

A miniature prosper.com is my most favorite option because that site is not nearly as well known as ebay/match.com etc, but I know quite a few people with $10k in the bank, wanting to know how to get more than 3% interest on it. Also I believe that these types and especially the folks on the other side, who actually need the money, will be affected quite a bit from inexpensive offline marketing methods (flyers, signs, cold calling)

What do you guys think of this idea?

 

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[yveskleinsky]

I like the idea--a lot. Granted, I know nothing about what type of regulations and legal hoops you'd need to jump thru, but it seems that now is a great time to launch a service like this. ...As a side note, I was on prosper.com about 3 months ago and they were no longer accepting new investors and they weren't taking apps for new loans. In addition, it seems like the site has become more of a lead gen/affiliate site for other lending sites. (Anyone know why?)

Keep us posted!

 

[neverfastenough]

I like the idea--a lot. Granted, I know nothing about what type of regulations and legal hoops you'd need to jump thru, but it seems that now is a great time to launch a service like this. ...As a side note, I was on prosper.com about 3 months ago and they were no longer accepting new investors and they weren't taking apps for new loans. In addition, it seems like the site has become more of a lead gen/affiliate site for other lending sites. (Anyone know why?)

Keep us posted!

Prosper was essentially shut down by the SEC. I think I remember it had to do with whether users were accredited investors (yearly income of $200k or a new worth of $1MM.)

 

[MattThomas]

I like the idea too, I'd imagine it would attract a more niche audience, localized to your area, and it might even attract those who are less internet savvy, since you said you'd utilize some offline methods as well.

 

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[yveskleinsky]

...Why couldn't someone design a site that blending the concepts of Kiva.org and prosper.com? I would think if you were investing in people on a local level, the repayment rate might still be as high as Kiva.

Just a thought.