Last night we released some big changes to the Prosper site.

Nationwide lending at 36% interest rate cap

After a couple years of turning away Nevadans completely and forcing Pennsylvanians to set their interest rates below 6%, we are opening up the marketplace to borrowers in almost every state of the union, with a marketplace-wide rate cap of 36%. Learn more on our new legal compliance page.

Minimum instant transfer amount lowered to $50

For lenders who install Prosper’s Facebook application, we’ve lowered the minimum transfer requirement from $500 to $50. Additionally, the maximum instant transfer amount has been raised to 50% of your active loan value.

What this means is that with as little as $100 in active loans, you can instant transfer $50 to Prosper for that “must have” loan that you just came across.

Prosper’s Facebook application keeps your Facebook friends updated on your Prosper lending activity, and is a great way to share Prosper with your friends and family.

Second loan criteria updated

The requirements for borrowers who wish to take a second loan on Prosper have changed. The new rules for whether a borrower is eligible for a second loan are dependent on the borrower’s credit grade, and the factors taken into consideration include time since last loan originated, consecutive months of on-time payments, and whether the borrower’s credit grade has dropped or not.

See the full list of eligibility requirements.

Lender servicing fee for AA changed to 1% per annum

The lender annual servicing fee for AA borrowers has changed to 1%. Listings created on or after April 15 will be subject to this new servicing fee. Learn more about fees and charges.

Listing durations standardized at 7 days

Along with some other changes to the listing creation process, we have fixed the duration of all new listings to 7 days. This change is part of a larger effort to simplify the listing creating process, and help more borrowers create fundable listings.

Your tax forms are right here

If you are a lender who owned loans in 2007 or earlier, and are eligible to receive a Consolidated Form 1099 from Prosper, your 1099 is available from the “My Account > Statements” page. Learn more about tax reporting.

There are many other changes under the covers, and some not-so under the covers. We hope you enjoy the changes, and look forward to getting your feedback.  Please leave a comment.

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Andrew is a Product Manager at Prosper.