Money Loan Business Idea

[leaftors]

I would like to start a business similar to http://prosperousblog.blogspot.com/

Questions:
Where would i get the money to lend people?
What are the usual interest rates that banks give for loans?
How is this profitable?

[TWCAaron]

Check out this blog post for the answers to your questions:
http://www.stevekrause.org/steve_kra...r_and_zop.html

Also, double-check the business model... you don't have to come-up with any money to loan anyone. It's a way for lenders/borrowers to meet-up. You charge a small % commission (in this case 1%).

Aaron

[leaftors]

so its basically like ebay. capital comes from commision/fee charge?

[leaftors]

any tips on how to secure transactions? or how i would go about starting? im 15 by the way.

[leaftors]

also how much is interest from the bank because you would be competing with them right?

[NeeJam]

www.prosper.com you could be a lender on there.