In October 2007, Prosper launched a Facebook application for our members. In April 2008, we then launched a new Facebook application which allows people to transfer funds to their Prosper lending account instantly. We provided this service because lenders wanted a more immediate ability to bid on loans they liked without having to wait for funds to clear.
We are pleased to announce that over 5,000 members have downloaded this application!
If you are a registered lender on Prosper and have not yet installed the Facebook application, you can do so here. Once you have installed the Prosper Facebook application, you can transfer as little as $50 and as much as 50% of your loan value instantly.
Adding the Prosper Facebook application allows you to keep your friends updated on your Prosper Lending activity. And, if you want, you can display which loans listings you are watching and/or have bid on in your news feed and mini-feed sections.
If you are not a member of Facebook and are not sure about this social networking site take another look at it. There are over 36 million US users - it’s not just for students anymore! Facebook attracted over 123 million unique visitors in May, 2008. Their website’s ranking among all websites increased from 60th to 7th in terms of traffic from September 2006 to September 2007 and has now increased to 5th according to Alexa.
Hundreds of applications are created everyday, and there are now 7,000 applications on the site.
Join our 5,000 member strong base and see how easy it is to set up a page on Facebook and download our application.
Are you still toting that faux leather booklet around, filled with your Care Bear checks? The days of that payment method may be numbered. With more and more on-line services offering non-paper ways to pay, why do things the old fashioned way (not to mention irritating postage and the time to mail a bill)? .
The Debit Card Virtually everyone has a ATM card (even my old Uncle Howard), why not also give it a debit function?
Styled like a credit card, it can replace the check book for general store purchases. Swipe it at the time of transaction, and the funds are subtracted from your designated account just like you’ve just written a check (without the withering stares of those waiting while you write a check).
A further advantage is now you have record at the bank of any purchase you make, in case of disputes or debit subtraction issues. Just keep track of your debit just like marking it in your check book (in fact, you can keep the check book to do just that!).
Using the Computer Most goods and services you use (utilities, cable/dish TV, store credit payments, etc.) have the means to log on to a website and pay with a fund transfer (either using your debit card or punching in your check book account numbers). They are protected by passwords and security systems, so read the privacy notices on each.
You can also set up online banking so that you can have checks issued directly from your bank. And you can set up the recurring payment methods so you have less worries about missing a payment. Also there are fund transfer services (PayPal, etc) that are convenient to use.
Doing the Environment Good As you move into the paperless payment methods, you become a Junior Al Gore. With less checks written, banks don’t fill the landfill with old paper. You also can track more easily where your money goes, and use virtual records on-line for deductions at tax time. It’s all good.
I wonder if a Junior Al Gore gets a Special Badge?
—
Steve McDonald is a freelance writer and Prosper member since October 2007.
With summer upon us, taking to the road is a delightful way to see America in all its beauty. Many like to do this economically by purchasing or renting an RV. While gas may be expensive, the costs of your overnight stays are minimal. However, vehicle financing has been a complicated process that usually ended up being expensive for a consumer. If the vehicle in question was an ATV or a motorcycle, the odds of getting an approval where pretty slim. Although it is usually easier to get a loan for an RV, there are still complications that can make the whole process convoluted.
Banks typically do not like to deal with boats, motorcycles or ATV loans, simply because there is a lot of risk involved. The loan must be secured using the vehicle and depreciation rates can be a big issue with many banks. The interest charged for these loans is typically quite high and it can be difficult to negotiate terms that fit in with your budget.
However, you can look at alternate ways to have summer fun – personal loans through person-to-person lending. Instead of having to go to the bank and get a traditional loan, consumers can now access online loan sites providing a marketplace for p2p lenders. This is a new idea that is revolutionizing the industry and thousands of people have already seen what a difference these personal loans can make.
When you go to a p2p lending site, you are applying for an unsecured personal loan. If you want the loan to help pay for that RV you have always wanted, you don’t have to use the vehicle as collateral, and you’ll have a lot more options when it comes to how much interest you are willing to pay. For recreational vehicles, this can have a dramatic effect on the overall amount that you end up paying, especially over the long term.
The process of getting a personal loan online from a p2p lender is quite easy. All you have to do is post a loan request, detailing what you’ll be using the loan for and how much interest you are willing to pay. Here is a quick video tutorial How to Create a Great Listing.
Lenders then bid on that request and you automatically receive the lowest possible interest from amongst all the bids. For a high ticket loan, usually you will end up with several lenders that will work together to provide the complete loan to you. This can be much more economical and you won’t have to worry about having to go to the bank and work out a deal.
The entire process of requesting an online unsecured personal loan, getting new bids and finding the best one can take as little as a few hours, and at most, a few days. This is a big switch compared to traditional lending that can take weeks to close. You will normally have to wait for the next lending committee meeting when you apply at a traditional bank and if your timing is off, you may end up waiting quite a while to find out if you’ve been approved.
Want to be a part of this round up in the future? It is easy… leave a relevant blog comment and/or link to a Prosper blog post in a relevant way from your own blog. Then, when I stop by your blog to see who you are, be sure to have fresh content as most of the posts that will be highlighted here will have been published in the last week.
Plus blogs that send trackbacks that are approved will be featured in the sidebar while their trackback remains one of the last 5 received.
While this will not guarantee that you will be included it will certainly get my attention… The blogs featured here already have my attention. Will you be next?
—
RateLadder is a Prosper lender and has been since July, 2006. He has a passion for p2p lending. He owns RateLadder — My Prosper.com Journey and other P2P Lending Adventures, P2P No Bank the P2P Blog Aggregate, and ProProsper — Professional Tools for Prosper Lenders featuring SQL access to Prosper data.
There used to be several ways to be able to get a loan. Now, with the credit crunch it has become considerably harder. For example, if you are in the market for a new or used car or just want to reduce your monthly payments on your car, there are a couple of different ways that you can get financing. Most people opt for the traditional route of securing the loan with the car and going to the bank or a dealership for the financing. While this can work well, there may be times when you prefer to have an unsecured fixed rate loan instead. This changes the whole face of a loan and can make it difficult to get an approval. Dealers for example, will not offer this type of loan and a bank will usually need to have the loan at least partially secured.
A new trend has emerged in banking thanks in a large part to the housing crisis. Right now, getting an unsecured loan is almost impossible, even if you have great credit. Even if you do get a loan, the interest rates are continuing their upward climb and it can be very hard to get a decent low rate for a loan. This translates into spending a lot more money every month and over the course of the entire loan.
One of the better ways to get an unsecured fixed rate loan is through a Peer to Peer Lender. There are many different ways to do this, but one of the easiest ways is using Prosper.com. This is a p2p lending community that is available in the United States. It is made up of lenders from across the country, and good, credit worthy borrowers who are looking for financing. If you wanted to look into paying off an existing car loan with a personal loan from Prosper, the process would be very simple.
First, you would need to create an account on the site. They screen for credit ratings, so you will need to provide a valid social security number for your account. While all credit ratings may be eligible, it is best to have a very good rating before joining. If your credit could use a little help, you may want to work on raising your score before you join.
Once you are a member, you can post a listing for your unsecured personal loan for your car or any need you may have. You can state how much interest you are willing to pay – its best to start higher so that the Lenders may bid the rate down - and how much you need (maximum of $25,000). The basic terms are three years, fixed rate loans. Once your listing is posted, lenders from the Prosper community will be able to bid on it. They may meet your interest rate or they may even undercut it.
Commonly, more than one lender will bid on a loan request. This allows the community to share the risk and makes it easier to get an unsecured personal loan for the borrower. Once enough lenders have bid on the loan and it is fully funded, the borrower will be able to get their loan. The whole process is streamlined and it is easy to complete.
In October 2007, Prosper launched a Facebook application for our members. In April 2008, we then launched a new Facebook application which allows people to transfer funds to their Prosper lending account instantly. We provided this service because lenders wanted a more immediate ability to bid on loans they liked without having to wait for funds to clear.
With summer upon us, taking to the road is a delightful way to see America in all its beauty. Many like to do this economically by purchasing or renting an RV. While gas may be expensive, the costs of your overnight stays are minimal. However, vehicle financing has been a complicated process that usually ended up being expensive for a consumer. If the vehicle in question was an ATV or a motorcycle, the odds of getting an approval where pretty slim. Although it is usually easier to 
There used to be several ways to be able to get a loan. Now, with the 
