No. of Recommendations: 3
I had previously invested $2000 in Prosper. I had determined that this level of investment allowed me to make a new loan every month with the proceeds of my existing loans. After 7 loans defaulted I stopped making new loans a couple of months ago. As many others have stated, it was not worth my feelings of resentment when people that I tried to help, did not make the payments they committed to.

This weekend I saw a segment on on the Today show. This organizations allows you to make loans to third world entrepreneurs with no interest charged. I transferred my balance from Prosper today and will begin to use the proceeds to make loans on Kiva.

The repayment rate on Kiva is over 97%. I think the better feelings I will have about these loans and the people I am loaning the money to, will outweigh the lack of interest being paid on these loans.

My 2 cents.

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