Are you wondering how to get money to start your business? It doesn’t have to be that difficult, especially if you need $25,000 or less at a rate you can feel comfortable with. In fact, Prosper is advertising rates starting at just 7.4% Interest.

Have you ever heard of Peer to Peer lending? It allows people like you and me to lend to other people that need a loan for whatever reason, including getting money to start a new business.

The loans are unsecured and the interest rate varies depending on your credit score as well as ability to repay the note.

Most small businesses lack sufficient capital, so the loans are given personally, but can be used for the purpose of funding your business. You will still be responsible for the note should your business fail, so be careful and consider this when requesting startup money.

If you’re trying to get investors in your company, you may benefit from getting a personal loan and putting money in yourself. That lets investors know that you have your own skin in the game and makes them more comfortable with your commitment.

You get a chance to tell lenders about your story. You want them to know who you are and why you need the money. If you do well with your pitch, you may find yourself getting an unsecured loan at a better rate than the local bank which turned you down.

This could be better than using credit cards as the interest rate can go over 28% and higher. With interest rates starting at 7.4%, peer to peer lending may be a better option for you.

If you’re someone that likes investing in opportunities, you might consider taking a look at this as an opportunity to lend to people starting small businesses.

The company that I’m talking about is Prosper, a company that acts as a peer to peer network. I’ve participated in the network myself and have done well working with Prosper.