Prosper is pleased to inform our Lenders in Rhode Island and Virginia that we have received state clearances and are now effective for business. We already have hundreds of lenders and borrowers participating in the first auction based peer-to-peer loans platform and welcome our members in Rhode Island and Virginia.
Prosper is currently available to lenders in the following states: California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Louisiana, Maine, Minnesota, Missouri, Montana, Nevada, New Hampshire, New York, Oregon, Rhode Island, South Carolina, South Dakota, Utah, Virginia, Washington, Wisconsin and Wyoming.
Prosper is in the process of working with every state to allow lending; however each state has their own process and ultimately Prosper does not control the timeline involved to get approval. Rest assured that this is a priority for us and we will let you know as lending opens up in new states. Prosper delivers competitive rates of return ranging from 7.18% for AA listings to 4.59% for E Prosper Rating listings, based on return on investment for all loans as of 6/30/2009. These are healthy returns that confirm peer-to-peer lending is a viable alternative asset class in which to invest.
To read more about the changes we have made to ensure we deliver the world’s most transparent and durable personal loans trading platform read here.
Welcome back and happy investing!
Notes offered by Prospectus
The current states eligible for participation by Prosper lenders can be found at: http://www.prosper.com/help/investing.aspx#states