Prosper CEO Chris Larsen on MSNBC

07/17/09 posted by Prosper Blog

Take a look at Chris Larsen on MSNBC on Friday, July 17th.

Chris talks about how peer-to-peer lending is exactly what this country needs right now. Lenders can start with as little as $25.00. He allays commentator concerns regarding peer-to-peer lending by discussing the security and privacy safeguards put in place by Prosper that are similar to online banking. He tackles banks by talking about the big spreads that banks make on the money you deposit with them, while you have no part of how they invest that money. But with peer-to-peer lending Investors can decide who to invest in – the process is much more transparent and Investors can do well by doing good. Technology has enabled this and every American to now be his/her own banker. This is an empowering model and a more durable system.

Watch the video

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The Results From the Legal Collections Test

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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 [...]

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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 [...]

$50 Sign-Up Bonus for New Lenders!

By Prosper Blog on 10/23/09 [ ]

Starting today new lenders will receive a $50 sign-up bonus to use for their first two bids on Prosper loan listings. This promotion will last until 1,000 new lenders have signed up and received their $50 bonus.
Prosper lenders have been experiencing positive returns from investing in our new borrower loans, (with an average borrower credit score [...]

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