Prosper Peer-to-Peer Lending is Back!
Prosper Peer-to-Peer Lending is Back!
After months of wondering whether I would be able to lend at Prosper again, they have finally emerged from the Security Exchange Commission’s mandated quiet period, and they look to be a much stronger company as a result.
Here is a quote from the Prosper blog:
Finally… the moment we and so many supportive and loyal Prosper community members have been waiting for… after nine long months of navigating the rapidly changing regulatory landscape, we are thrilled to announce that Prosper’s registration statement with the SEC has been declared effective. Prosper lenders can once again invest directly in fellow Americans and small businesses!
Two new features that I am excited about are 1) the ability to trade loan notes and 2) the new Prosper borrower rating system which has a minimum borrower credit score of 640.
The only downside is that Prosper hasn’t yet completed the registration process for all states yet. For the list of states where Prosper is open to lenders and borrowers click here.
Read the rest of the blog post here: Prosper is Back! We mean it this time.
Note: Prosper is a service that I’ve used for years and I don’t receive any compensation or other perks for mentioning them here. I have included a screen shot of my current annual percentage yield and loan statuses as proof that if done right peer-to-peer (p2p) lending is a reasonable alternative to the APYs offered by traditional investments. Also, I would not consider Prosper a means for saving money, simply because your loan notes aren’t FDIC insured. Finally, if you have questions about my experience with Prosper don’t hesitate to send them to me.
(Feature Image Source: Flickr user Annique)
No related posts.
