About Us  > Blog

Black Friday Not Just For Shopping Anymore

by Prosper on 12/23/10

Recently we announced that lender bidding activity on our site surged 350% on Black Friday.

“The increased activity on Black Friday shows that people are looking to make every dollar go even further, whether purchasing a holiday gift or making an investment,” said Chris Larsen, chief executive officer and co-founder of Prosper.com. “As investors look to make their money work harder in 2011, peer-to-peer lending is becoming an increasingly appealing asset class for a broader range of investors.”

In addition to the Black Friday surge, Prosper also reported strong average returns compared to other peer-to-peer lending sites. In October, Prosper originated loans with a 10.69%* estimated return.  Prosper Statistics for October 2010 also available on the full Press Release.

Furthermore, according to independent website LendStats.com, which tracks the peer-to-peer lending industry based on publicly available data, lenders on Prosper are realizing average returns of at least three percentage points higher than on other P2P lending sites.*

“The findings by LendStats.com further validate that the new risk management measures we put in place more than a year ago have resulted in an overall improvement in loan performance,” Larsen added.

* Based on loan originations from August 2009 through December 2009.

Click here for backup explanation of chart.

*Expected Annual Return is the projected average annual return on funds invested in all loans with a certain Prosper Rating originated on our platform during the month of October, 2010. Expected Annual Return is calculated by subtracting the Expected Annual Loss Rate for those loans from the corresponding Lender Yield. The Expected Annual Loss Rate is the estimated principal loss on charge-offs for loans originated during October, and is based on the historical performance of Prosper loans for borrowers with similar characteristics. Expected Annual Loss Rate does not include estimated accrued interest not collected or estimated late fees. The calculation of Expected Annual Return and Expected Annual Loss Rate requires significant assumptions about the repayment of loans and lenders should make their own judgments with respect to the accuracy of these assumptions. Actual performance may differ from estimated performance.

Notes offered by Prospectus


Leave a Comment

Prosper moderates all comments and will approve those that are directly relevant to the post. We do not publish comments that are spam, are offensive or appear to pass you off as another person.

(required)
(required) Email will not be published.
 

Comment Policy

 

*
To prove you're a person (not a spam script), type the security word shown in the picture. Click on the picture to hear an audio file of the word.
Click to hear an audio file of the anti-spam word


posted in Borrowers,Featured,Lenders,Prosper News no comments »

Connect with us

Search

Lenders

Prosper Increases Allocation to Fractional Pool

By Prosper on 07/30/15   [ 0 ]

Posted by Eric Thaller To improve the investing experience for Prosper’s community, Prosper recently made a change to its platform. Prosper started increasing the allocation of loans to the fractional pool over the last week, so that retail investors can invest more in the fractional pool faster and easier. Prosper’s CEO, Aaron Vermut, alluded to [...]

Read More

Prosper Introduces Debt Sale Program

By Prosper on 07/21/15   [ 0 ]

By Eric Thaller As part of our ongoing efforts to improve the investor experience on the Prosper platform, we are making changes to the way we deal with charged-off loans.  On July 17th, Prosper introduced a debt sale recovery strategy aimed at delivering an increased level of return for investors in a more timely manner. [...]

Read More

Prosper Opens for Business to Investors in Indiana

By Prosper on 07/13/15   [ 2 ]

Posted By Eric Thaller Today we announced that the Prosper platform is now available to investors in Indiana. With the addition of Indiana, Prosper is now open to investors in 32 states and the District of Columbia. We appreciate the work of the state regulators to bring this investment opportunity to its residents. As one [...]

Read More

« Older Entries

Monthly Archive


Notice: Blogs and other materials posted on or linked from this page that use the name "Prosper" generally use that name to refer to Prosper Marketplace, Inc. if published before January 31, 2013 and to refer to Prosper Funding LLC if published on or after February 1, 2013.