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Porsche-O-Phile Porsche-O-Phile is offline
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Join Date: Feb 2004
Location: A Rock Surrounded by a Whole lot of Water
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Yes they give you the creditworthiness of the loan asker expressed as a letter grade, "AA", "A", "B", etc. along with historical default rates. It's pretty slick (or was, when it was working way back when). I think the site made money on fees the loan recipient paid to get the loan processed. Can't remember if they took a cut of the interest. I think they tacked a couple percent onto what the loan recipient ended up paying, but it wasn't something you as a lender would ever see or care about. You're just making money off your money by lending it out.
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Black Cars Matter
Old 02-28-2009, 07:57 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #6 (permalink)