Prosper
Prosper Announces IRA Account Option
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 Hires Auditor to Confirm Investment Returns, Issues Self-Congratulatory Press Release
Prosper is the latest of many, many companies that have paid for an audit or survey aimed at making their business look good. Prosper recently contracted with Ashland Partners & Company LLP to do an “audit” of its investment returns. Although, the audit only confirmed Prosper’s numbers based on the company’s own methodology. The audit [...]
Prosper Holding “Pay Off My Debt” Sweepstakes
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 Launches Updated Mobile Site
Prosper has released an updated version of its mobile website. The new version of Prosper’s mobile website allows investors to manage their account, invest in listings and add funds to their accounts. Prosper wrote the following on its blog yesterday, “We’re proud to introduce Prosper.com designed specifically for mobile phones, available now for our valued [...]
Prosper and Lending Club Facilitated $40 Million in Loans in December
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 Launches ‘Fired Up’ Kindle Fire(R) Sweepstakes
Prosper is holding yet-another promotion. This time, individuals that register on Prosper’s website will be entered to win a new Amazon Kindle Fire. This effort, along with Prosper’s previous sweepstakes, is a move by Prosper to add new subscribers to their their email marketing distribution list. Here’s the text of the press release: SAN FRANCISCO, [...]
Prosper Pitches Peer-to-Peer Loans as Affordable Alternative to Credit Card Debt
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. [...]
How to Develop a Solid P2P Lending Investment Strategy
As my peer-to-peer lending investment portfolio continues to outperform my stock portfolio, I’m increasingly convinced that putting some money into peer-to-peer lending is a good idea for just about every investor that meets Prosper and Lending Club’s suitability guidelines. I’m currently getting a 13% net annualized return (NAR) on my Lending Club notes, far better [...]
My Prosper Investment Strategy
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 [...]
P2P Lending Wealth System Video Series Now Available
Peter Renton, founder of Social Lending Network, has launched a new video training series for peer-to-peer lending investors called the P2P Lending Wealth System. The $97.00 video series consists of eight video modules. There are three videos that introduce the concepts of peer-to-peer lending, discuss what risks are involved and what you need to know [...]
Prosper Voices Support for U.K. P2P Finance Association
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 and Lending Club Issued $37.4 Million in Loans in November
Prosper.com and Lending Club, the two largest peer-to-peer lending companies in the United States, facilitated 3,506 loans during the month of November, with a total loan volume of $37.4 million. Lending Club issued a total of $28,332,600 in loans in November, an increase of about 3% above its October volume of $27,482,550. Lending Club issued [...]
Prosper Holding “Shop On Us” Sweepstakes
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 [...]
Prosper Running Military Families Promotion
Prosper is running a promotion in November for Military Family Month, which President Obama designated last year. The company is offering to pay the second payment for any borrower who is currently serving in the military or who is a veteran, up to $250.00. The company will also be making a $50 donation to the [...]
Prosper.com Receives $9 Million in Series F Funding
Prosper.com has received a shot in the arm by way of a $9 million investment from a new group of investors, including IDG Capital Partners. The company issued a total of issued 8,996,739 shares of its Series F Preferred Stock. Prosper now has more than $25 million in funding in the bank to ramp up [...]
Prosper to Host Performance Measurement Webinar
Prosper is hosting a webinar for bloggers to discuss creating an accurate rate of return calculation for peer-to-peer lending investments. Both Prosper and Lending Club have previously been accused of over-stating the rate of returns that investors are getting by using a calculation that includes a majority of notes which have not matured. Attendees will [...]
Prosper.com Makes Changes to Investor Dashboard
Prosper.com has added new functionality and given a new look to the dashboard that investors see when they login. The updated dashboard now reports asset allocation by Prosper rating, term and note status. The dashboard now also shows a “seasoned return”, which is the annualized rate of return of notes that are ten months or [...]
Prosper Offering 2.5% Cash Back on Featured Notes This Week
Prosper.com is offering 2.5% cash back on investors that put funds into any of Prosper’s featured listings through this Friday. In an email to investors, Prosper wrote, “Just 3 days left to earn 2.5% cash back on all your Featured Listings investments!* Between Actual Seasoned Returns of 10.69%** and a great limited-time only cash back [...]
Lendio and Prosper.com Partner on Small Business Loans
Lendio, a company which sets up small business loans with a number of different financial institutions, announced that it has partnered with Prosper.com. It appears that the relationship is primarily an affiliate arrangement in which Lendio sends small business owners looking for loans to Prosper. Here’s the press release. Salt Lake City, UT and San [...]
Prosper Now Including Verification Stage on Loan Listings
Prosper.com has added a new metric to help investors decide which loans to fund. Loan listings on Prosper now include a “verification stage” which is an indication of how the borrower has gotten in the approval process. One of the issues with investing in peer-to-peer loans is that the rate of return on the individual [...]
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