Prosper

Prosper unveiled their new lender protection policies which they have been developing alongside the SEC.  Prospers new entity Prosper Funding LLC has taken ownership of all of Prospers loans and issues all of the Notes on the Prosper Market place. This ensures that all Notes are fully protected in the event of a Prosper Bankruptcy.  [...]

People with excellent credit scores are finding it hard to obtain loans from banks, so peer to peer lending companies have decided to fill the void. Here is the press release: July 04, 2012 (Daily Finance) – Interest rates are at their lowest levels since 1971, but even people with excellent credit scores are finding [...]

Prosper.com has announced that the company will be offering new and rollover IRA accounts to investors seeking consistent and predictable high-yield returns. Here is the press release: SAN FRANCISCO, CA, Feb 29, 2012 (MARKETWIRE via COMTEX) — Prosper.com, a peer-to-peer lending marketplace for personal loans and investments, announced today that investors seeking consistent and predictable [...]

Prosper is now offering the ability for investors to lend money through Prosper via an individual retirement arrangement (IRA). This will allow investors to invest in peer-to-peer loans in a tax-advantaged manner, which is welcome news considering the poor tax-treatment that peer-to-peer loans receive compared to other investments. Social Lending Network reports that the company [...]

Prosper is running yet another sweepstakes. This month, the company will give away one $1,000 prize to a contestant that enters their sweepstakes. Prosper uses sweepstakes and promotions, such as this one, to collect email addresses that can later be used for marketing purposes. Anyone interested in registering can do so at http://www.prosper.com/prm/payoffdebt.html. The deadline [...]

Prosper and Lending Club facilitated a total of $40.5 million in loans between borrowers and investors during the month of December, marking the strongest month in U.S. peer-to-peer lending history. Lending Club lead the way, issuing $31,007,025 across 2,267 loans. This is the first month where Lending Club issued more than $1 million in loans [...]

Prosper issued the following press release this morning stating that peer-to-peer loans can serve as a debt consolidation tool to cut the interest rates that borrowers are paying on high-interest credit card debt. Here’s the release: San Francisco – December 20, 2011 – This year, the average consumer will spend $704[i] on holiday related purchases. [...]

I’ve put about as much of my net worth into Lending Club loans as I’m comfortable with for the time being. I plan on putting more money into peer-to-peer lending, but plan on adding an extra level of diversification by putting some money into loans on Prosper. Initially, I’ll probably put in a few hundred [...]

Prosper issued a press release voicing its support for the Peer2Peer Finance Association, which we have previously reported on. Here’s the press release: SAN FRANCISCO, CA, Dec 01, 2011 (MARKETWIRE via COMTEX) — Prosper.com, a peer-to-peer lending marketplace for personal loans, announced today its support for the United Kingdom-based Peer-to-Peer Finance Association, the trade group [...]

Prosper.com is holding yet another promotion for its peer-to-peer lending service. This time, the company is holding what it calls a “$5,000 Shop on Us” sweepstakes. Users that enter in their email address at http://www.prosper.com/prm/sweepstakes.html are entered into a drawing to win one grand-prize of $5,000. The contest runs from November 21st, 2011 to November [...]