Peer 2 Peer Lending?

Not much info to glean from that site.

What are the terms of the lend? 12 mo/18 mo or more?

I did find this little nugget:

Because a Note cannot default until it's missed five payments, the return for a portfolio composed solely of young notes will be based entirely on those loans that remain current. This can result in a temporarily higher return for young portfolios than should be expected.

Click to expand...

Is it 5 consecutive payments? What are the actual terms of default? Can a borrower extend the term of the loan by sending in half a payment? Because any of these will reduce you ROI that they tout on that website.

Interesting concept. But unless you are ready to play "bank", i wouldnt expect much return. 6% return on $5000 over 12 months, man you can get that from a mutual fund.