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Announcing the Winners of the $2 Billion Strong Contests!

This last month, you all have been voting on your favorite photos and videos that Prosper borrowers have submitted to the $2 Billion Strong Photo & Video Contests. We wanted to find the best Prosper stories out there, and the people have spoken!

We present to you the winning photos and videos:

Video Contest Winners

Second Prize

Susie from Eastman, GA

“When an unexpected setback threatened my finances, I needed help, and fast. I did some research online and discovered Propser’s community-funded loan system. I was impressed by the rates, the convenience, and the reviews and decided to give it a shot. With the help of Prosper’s investors I was able to quickly turn a near-disaster into a new opportunity.”

First Prize

Kelli from Maryville, TN

“We learned about Prosper.com from an advertisement on CreditKarma.com. After a devastating diagnosis of early onset Alzheimer’s disease, we had to come up with a plan to care for my mother. She has been capable of living on her own for a few years now, but has progressed as to need full-time care. We could not accept the idea of placing her in a nursing home, but did not have the space for her in our home. We decided our best option was to convert our garage into a living space for her. We did not have enough in savings for this project so sought out funding through our bank. We were approved, then denied because the reason for the loan was not, in their opinion, a good investment. We came to Prosper.com and were quickly approved and received our funds! Our construction is underway!”

Grand Prize

Scott from St. Louis, MO

“I have nothing but positive things to say about Prosper, they helped me when I needed it the most – when my life depended on it.”

Photo Contest Winners

Second Prize

Clayton from Buffalo, NY

“By getting my loan I was able to go to Fort Stewart in GA to pin my son’s sergeant stripes on him as he has reached the same rank as I did in the army. My son is now in Korea and is gone for a year and because of prosper I got to have the time with him before he was sent to Korea.”

First Prize

Cheri from Grand Rapids, MI

“I am a single mom who adopted 2 amazing children from Haiti. My daughter is profoundly deaf with other special needs. After wading through an extremely difficult and expensive adoption process that took over 4 years (3 of which I lived in Haiti) I struggled financially. The prosper loan has helped me consolidate my debt and hopefully will move us into debt free living to open up our options. Hoping to gain the financial ability to get some services that my daughter needs as well as work towards adopting again!”

Grand Prize

Jennie from Chippewa Falls, WI

“Helped me pay off the credit cards used to pay off my medical bills.”

That’s it! We hope you had a great time learning more about our other community members, and creating all of the awesome photo and video entries we received! Getting to know some of our borrowers personally, and learning about all the ways that Prosper has positively impacted people’s lives has been an incredible experience, and one that reaffirms to us everything we’ve done to get to this point.

We hope you’ll stay in touch with us on Facebook and Twitter, and keep us posted on exciting things happening in your life with Prosper! As always, stay tuned to our social sites for great articles regarding Online Marketplace Lending, personal finance, and beyond!

by on 12/15/14 | No Comments

Older Entries >

Lenders...

Marketplace Lending Takes the Main Stage

This is an historic moment. Lending Club debuted on the New York Stock Exchange this morning, becoming the first online credit marketplace to go public. It’s a huge validation for the industry and will bring an increased level of awareness and education about the space. We want to congratulate them on a successful IPO.

When Prosper pioneered the market more than eight years ago, the scenario was quite different. The idea that people had an alternative to borrowing from banks was novel, and even scary for some. Today, more than 250,000 have borrowed over $2 billion from individual and institutional lenders through the Prosper marketplace. We’re one of the fastest growing credit marketplaces, with loan originations on the platform up 420 percent over the last year (Q3 2014 vs. Q3 2013). It took us eight years to cross the first $1 billion in loans on the Prosper platform (announced in April 2014), and just six months later, in October, we announced the $2 billion milestone. Clearly, marketplace lending is moving into the mainstream as people see it as an easier, more cost-effective alternative to traditional bank lending. This week’s activities only confirm this.

The market is only getting bigger. We may have started out helping cash strapped consumers to consolidate their credit card debt, but today, people are turning to us when they need money for special occasions, home improvements, a second auto, and many other everyday and lifetime events. Online marketplaces have transformed numerous industries — retail, lodging and travel, to name a few. Prosper saw a need for similar innovation in the financial services and lending industry — where borrowers are subject to high interest rates and fees and layers of paperwork, and diversity and yields are limited for investors. By opening up the market and connecting investors and borrowers directly, we smooth out and bring transparency to a seemingly arbitrary process. Competition in the lending market means more options for everyone. And for consumers, more choice means better rates, lower payments, improved customer service and increased ease of use.

We’re excited about 2015. We have more than 200 employees and we’re hiring many more, including recent top executives recruits who bring a wealth of experience and diversity. We raised $70 million this year (nearly $200 million total) to help us target a market that is expected to top $9 billion in loans this year. And we plan to roll out new features and functionality, further supporting mobile and expanding partnerships. We’re laser focused on offering consumers the simplest and most efficient customer experience on a platform they can trust.

As always, thank you to the Prosper community for getting us to where we are today. We are inspired by your stories and look forward to hearing many more in 2015.

Aaron Vermut

CEO

by on 12/11/14   [ 0 ]

PROSPER HITS ANOTHER RECORD: $100 MILLION IN APRIL ORIGINATIONS

Just one month after announcing that we crossed $1 billion dollars in loans, I’m happy to report that we’ve hit another significant milestone. In April, a record $100 million in loans was originated through the platform. This is up 400% from one year ago and 30% month-over-month. More importantly, it is indicative of the incredible momentum we’re seeing for peer-to-peer lending as more people turn to Prosper to fund large purchases, start a small business or refinance high-interest debt.

Along with this rapid growth, Prosper has continued to invest in customer service. It is our intention to offer borrowers and lenders the absolute best customer service. To accomplish that goal, we have been hiring the right team members, streamlining operations and improving our technology infrastructure to continually deliver a faster and more transparent borrowing and investing experience. I look forward to sharing a number of enhancements to member communications, mobile functionality and member benefits along with profiles of several new members of the Prosper team in the coming months.

In April, Prosper also welcomed Macy Lee to the Executive team as the Chief Financial Officer. Macy has a proven track record of helping businesses grow from early stage to established industry leaders. Most recently, she was CFO of eBay Australia, the country’s largest eCommerce site. In that role, she was responsible for Controllership, FP&A, Strategy, Business Analytics, and Facilities, and was instrumental in defining and executing its business strategy. Prior to her position as CFO, Macy spent nearly 11 years in various finance and business roles at PayPal and eBay, as well as Oracle, Target, and Sichuan Provincial Economic & Trade Commission in China.

As we head towards early May, we are busy gearing up for the second annual LendIt 2014 conference, being held May 4-6th in San Francisco. Once again, Prosper is a leading sponsor and President Ron Suber will deliver the first day’s closing remarks, with a presentation titled: From Disruption to Revolution: The Tipping Point of Online Direct Consumer Lending. We will post a video of his speech following the conference. For more info on the conference you can visit www.lendit.co.

As always, thanks to everyone for their involvement on our platform – the amazing growth we have seen in the last 15 months would not have been possible without you. Please keep the feedback coming, and check back for more good news in the near future.

Aaron Vermut
CEO

 

by on 05/1/14   [ 3 ]

Older Entries >

Borrowers...

Marketplace Lending Takes the Main Stage

This is an historic moment. Lending Club debuted on the New York Stock Exchange this morning, becoming the first online credit marketplace to go public. It’s a huge validation for the industry and will bring an increased level of awareness and education about the space. We want to congratulate them on a successful IPO.

When Prosper pioneered the market more than eight years ago, the scenario was quite different. The idea that people had an alternative to borrowing from banks was novel, and even scary for some. Today, more than 250,000 have borrowed over $2 billion from individual and institutional lenders through the Prosper marketplace. We’re one of the fastest growing credit marketplaces, with loan originations on the platform up 420 percent over the last year (Q3 2014 vs. Q3 2013). It took us eight years to cross the first $1 billion in loans on the Prosper platform (announced in April 2014), and just six months later, in October, we announced the $2 billion milestone. Clearly, marketplace lending is moving into the mainstream as people see it as an easier, more cost-effective alternative to traditional bank lending. This week’s activities only confirm this.

The market is only getting bigger. We may have started out helping cash strapped consumers to consolidate their credit card debt, but today, people are turning to us when they need money for special occasions, home improvements, a second auto, and many other everyday and lifetime events. Online marketplaces have transformed numerous industries — retail, lodging and travel, to name a few. Prosper saw a need for similar innovation in the financial services and lending industry — where borrowers are subject to high interest rates and fees and layers of paperwork, and diversity and yields are limited for investors. By opening up the market and connecting investors and borrowers directly, we smooth out and bring transparency to a seemingly arbitrary process. Competition in the lending market means more options for everyone. And for consumers, more choice means better rates, lower payments, improved customer service and increased ease of use.

We’re excited about 2015. We have more than 200 employees and we’re hiring many more, including recent top executives recruits who bring a wealth of experience and diversity. We raised $70 million this year (nearly $200 million total) to help us target a market that is expected to top $9 billion in loans this year. And we plan to roll out new features and functionality, further supporting mobile and expanding partnerships. We’re laser focused on offering consumers the simplest and most efficient customer experience on a platform they can trust.

As always, thank you to the Prosper community for getting us to where we are today. We are inspired by your stories and look forward to hearing many more in 2015.

Aaron Vermut

CEO

by on 12/11/14   [ 0 ]

PROSPER HITS ANOTHER RECORD: $100 MILLION IN APRIL ORIGINATIONS

Just one month after announcing that we crossed $1 billion dollars in loans, I’m happy to report that we’ve hit another significant milestone. In April, a record $100 million in loans was originated through the platform. This is up 400% from one year ago and 30% month-over-month. More importantly, it is indicative of the incredible momentum we’re seeing for peer-to-peer lending as more people turn to Prosper to fund large purchases, start a small business or refinance high-interest debt.

Along with this rapid growth, Prosper has continued to invest in customer service. It is our intention to offer borrowers and lenders the absolute best customer service. To accomplish that goal, we have been hiring the right team members, streamlining operations and improving our technology infrastructure to continually deliver a faster and more transparent borrowing and investing experience. I look forward to sharing a number of enhancements to member communications, mobile functionality and member benefits along with profiles of several new members of the Prosper team in the coming months.

In April, Prosper also welcomed Macy Lee to the Executive team as the Chief Financial Officer. Macy has a proven track record of helping businesses grow from early stage to established industry leaders. Most recently, she was CFO of eBay Australia, the country’s largest eCommerce site. In that role, she was responsible for Controllership, FP&A, Strategy, Business Analytics, and Facilities, and was instrumental in defining and executing its business strategy. Prior to her position as CFO, Macy spent nearly 11 years in various finance and business roles at PayPal and eBay, as well as Oracle, Target, and Sichuan Provincial Economic & Trade Commission in China.

As we head towards early May, we are busy gearing up for the second annual LendIt 2014 conference, being held May 4-6th in San Francisco. Once again, Prosper is a leading sponsor and President Ron Suber will deliver the first day’s closing remarks, with a presentation titled: From Disruption to Revolution: The Tipping Point of Online Direct Consumer Lending. We will post a video of his speech following the conference. For more info on the conference you can visit www.lendit.co.

As always, thanks to everyone for their involvement on our platform – the amazing growth we have seen in the last 15 months would not have been possible without you. Please keep the feedback coming, and check back for more good news in the near future.

Aaron Vermut
CEO

 

by on 05/1/14   [ 3 ]

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Notice: Blogs and other materials posted on or linked from this page that use the name "Prosper" generally use that name to refer to Prosper Marketplace, Inc. if published before January 31, 2013 and to refer to Prosper Funding LLC if published on or after February 1, 2013.