Prosper Blog: Prosper, the online marketplace for people-to-people lending

Part 5 of 7: The Ten Commandments of a Successful Online Business for Sale Listing

11/6/09 posted by Mike Handelsman [ 1 Comment ]

Each year, thousands of business owners decide to sell their business for a variety of personal and financial reasons. Whatever the cause, selling successfully requires the owner to think creatively in terms of attracting the most potential buyers and weeding out the ones who are not really serious about buying.

To realize the most success in selling your business online, it is imperative to maximize the effectiveness of your listing. Read more

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Lenders

The Results From the Legal Collections Test

By Doug Fuller on 11/3/09 [ 10 ]

Before discussing the results of the test, let’s review what we were testing. In November 2007, 74 loans that would have been included in the December Debt Sale were selected for a test of applying a legal collections strategy. These loans had an outstanding principal balance of approximately $705,000. They were placed at Hunt & Henriques, a prominent California debt collection law firm.

Once placed with the firm, these accounts were sent a “demand letter” stating that the balance would be accelerated in 30 days if an acceptable payment arrangement was not negotiated. Read more

Collections – Hardship Arrangement are Benefiting Lenders

By Doug Fuller on 11/2/09 [ 7 ]

One of the key challenges in collecting on unsecured installment loans is providing the borrower an incentive to continue to making payments when they come under financial distress. If you don’t make a payment on a credit card you can’t keep charging on it. In the case of a house or a vehicle loan, the lender can repo/foreclose on the secured asset. On an unsecured loan, the borrower has already received the funds – so there is no loss of utility when they stop paying.

One way Prosper has been successful incenting distressed borrowers to pay is by Read more

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Borrowers

Part 5 of 5: A Business Buyer’s Guide to Understanding the Fine Print

By Mike Handelsman on 10/30/09 [ 0 ]

With more and more do-it-yourself business buyers in the marketplace, the number of deals falling through at the last minute is increasing. Why? Not surprisingly, the answer is in the fine print. Read more

Part 4 of 5: Five Questions Business Buyers Should Ask, but Usually Don’t

By Mike Handelsman on 10/29/09 [ 2 ]

The average business for sale buyer goes into the buying process with an arsenal of boilerplate questions for the seller. But the questions buyers really need answered are the questions they usually don’t think to ask. Read more