David Lê, ThinkViet

When You Want To Borrow Money

Need some money to start a coffee shop or a nail salon, or to buy a car, to start a new job after college, or to pay off a loan with a high interest rate? You could (1) borrow that money from a relative, (2) get cash from a credit card, or (3) try to get a loan from a bank. But unfortunately, relatives may be hard to deal with, credit cards can have very high interest rates (21%), while banks often ask for collateral and have lengthy loan procedures.

The solution: “Play Hui On The Net.” Wow!

When You Want To Earn A High Return on Your Money

Have some money saved, and want to use it to make a good return? You could (1) play the stock market, (2) deposit it into a CD account at your bank, or (3) invest in real estate.

All these actions could net you some profit, but you could lose with poor stocks, CD accounts pay a maximum of about 5.5%, and even though real estate speculating could bring huge benefits, the housing market has been slow lately and the cash investments tend to be high.

Another way to maximize profit and be (relatively) safe: “Play Hui On The Net.” Wow!

Prosper On The Net

What is “Play Hui On The Net”? This is a system by PROSPER that combines the traditional Vietnamese “Hui” system with the Internet and the latest technology to allow individuals to directly seek and make loans online. Prosper has created a marketplace where borrowers and lenders can meet each other online: borrowers can get their loans quickly, and lenders can fund loans safely and with good returns.

Prosper’s basic tenet is to connect ordinary individuals, both those needing money and those with money to lend. Prosper allows borrowers to set their own interest rates, allowing lenders to bid only on loans with interest rates to their liking.

With over 60,000 registered subscribers and more signing up every day, Prosper has funded over $14 Million in loans in the last 6 months. Borrowers typically are people with high credit card debt, small business owners, university students, or people just starting to enter the business world. Lenders are people who have some put aside some savings, are not satisfied with the returns they’re getting from banks, and have decided to earn some higher interest rates on their money.

Learn more about “Playing Hui On the Net”. Travel to Prosper Groups for more details on how to “Play Hui On The Net”!

David Le is in charge of marketing and public relations at ThinkViet. He can be reached at david@thinkviet.net.