This is actually not a CD. It seems like just some sort of unsecured promissory note. Essentially, CFR is a loan broker, connecting folks with money to folks who need money. You're essentially betting that the borrowers won't default, and that they'll pay you a reasonable amount of interest.
A better bet, along the same lines, would be a highly-rated floating rate fund, such as BFRAX. My financial planner says that this is a better place to be, as compared to bond funds, though I think he's trying to bring us to that boat too late - that floating rate funds are already bid up in price and won't hold value over the long run. That's another issue though... The main point here is that this CFP stuff is not a substitute for CDs, but rather is a very poor substitute for a floating rate fund.