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Monday
Jul132009

Prosper, p2p lending online marketplace, is (really, we mean it?) back

It's been a long and arduous road (see here, here and here), but Prosper announced today that it is officially back, this time with the gold standard of proof: their statement with the SEC has been declared effective.
They are offering some innovative changes to the p2p landscape. From today's blog post by CEO Chris Larsen:

Trade Existing Notes
We’re also incredibly excited to introduce an Internet auction-priced trading platform for Prosper Notes. As many early Prosper lenders know, we’ve been working on this feature since we first launched in February 2006. We know that financial markets thrive on liquidity, which in P2P lending means lenders will have the opportunity to sell Prosper Notes any time regardless of the loan term. The note trading service is provided by Foliofn Investments, Inc., through their Folio Investing Note Trader platform.

Prosper Ratings
Other significant improvements include a new Prosper Rating system to make bidding easier and more rewarding. The new Prosper rating is built on Prosper’s huge database of approximately 28,000 loans. We have also introduced a minimum 640 credit score requirement for borrowers and a minimum bid floor for each Prosper rating to improve and optimize returns. Finally, to improve the ease of diversification, we’ve lowered the minimum bid amount to $25

Peer-to-peer lending may now be making its way to the mainstream. Federal Reserve Chairman Bernanke in a speech three weeks ago: “emerging technologies like peer-to-peer leading also show promise.”

 

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    - Transcapitalist - Prosper, p2p lending online marketplace, is (really, we mean it?) back
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    Response: Norbert
    - Transcapitalist - Prosper, p2p lending online marketplace, is (really, we mean it?) back
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    - Transcapitalist - Prosper, p2p lending online marketplace, is (really, we mean it?) back

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