Chris Larsen
Chris Larsen
Chris Larsen is an American business executive and angel investor best known for co-founding several Silicon Valley technology startups, including one based on peer to peer lending. In 1996 he co-founded the online mortgage lender E-Loan, and during his tenure as CEO E-Loan became the first company to freely provide consumers' FICO credit scores. By 2000 E-Loan's market value was estimated at $1 billion, and Larsen left the company when it was sold to Banco Popular in 2005. In 2006...
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Until now, financial institutions have controlled who is able to obtain credit and the rates people pay. Over time, this one-sided control has bred inefficiencies and excessive margins -- leading to higher rates for borrowers, and restricting people who have money to lend from entering and generating income from this vital and lucrative market.
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With the Internet world, we can have people make both sides of the (lending) market, bringing more transparency and efficiency. It can be both more capitalistically efficient and socially beneficial.
aims consumer created efficient gives lending opportunity people platform prosper providing rewarding socially tools
Prosper gives people the opportunity to take back the marketplace for consumer credit. By providing the platform and tools for an efficient marketplace created by and for people, Prosper aims to make consumer lending more financially and socially rewarding for everyone.
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No-cost loans are pretty popular right now, especially for people with larger loans. The larger your loan, the smaller the penalty for no-cost loans.