About Us  > Blog

Archive for the ‘ Prosper Spotlights ’ Category

Improving the Investor Experience at Prosper

By Eric Thaller, VP, Investor Services

One of Prosper’s key priorities for 2015 is improving the experience for our retail investors. This group of investors has always been an important part of Prosper’s DNA, and we are committed to making changes this year that improve the products they use. This includes increasing the number of fractional loans in the pool, which is at a record number today.

The goal is to put the information investors need at their fingertips so they can easily understand the status of their Notes and more detailed information about how their portfolios are performing. Over the next several months we will be introducing a series of enhancements that focus on data analytics, account management and other investing tools.

Our first step this week was an update to the My Quick Invest Order history and Order Detail screens to improve the experience for the retail investor. The redesigned pages now give better visibility into pending orders and make it easier for investors to access and download data.

We are committed to making additional improvements for our retail investors this year. Stay tuned for more updates, and we look forward to your continued feedback and ideas.

04/03/2015 by in Featured, Lenders, Prosper News, Prosper Spotlights

Prosper Platform Surpasses $3 Billion in Loans, Closing Out Record First Quarter

By: Aaron Vermut

Today we are very excited to announce we have officially surpassed $3 billion in personal loans issued through the Prosper platform since inception. In April 2014, we announced that we crossed the $1 billion mark. It took us eight years to reach that milestone and it was huge achievement for our company. Just six months later, in October 2014, we announced that we crossed $2 billion in loans. And now, just five months after that, we’ve surpassed $3 billion. In addition, we closed out a record first quarter with $595 million in loans through the platform in the first quarter of 2015. Since 2006 we have helped hundreds of thousands of people get one step closer to achieving their financial goals.

We could not have achieved this success without the Prosper community. We’re grateful to borrowers, investors and partners that have worked with us over the years. At Prosper, our customers’ stories inspire us, and so this week, we want to highlight some of these great stories on our Facebook page and Twitter feed. Please visit us on social to read about how people have used a Prosper loan for everything from debt consolidation to paying for medical expenses to home improvement and special occasions. We also want to hear from you. We hope you’ll continue to share your stories through a tweet or comment on our Facebook page using the hashtag #HowIProsper.

As we build our business, we continue to look for new partnerships and opportunities to bring our product to more people. To this end, Prosper made two significant announcements so far in 2015:

  • In February Prosper Marketplace announced its first acquisition of American Healthcare Lending. The addition of what is now Prosper Healthcare Lending gives us the opportunity to bring a consumer-friendly option for financing elective medical procedures to an industry that has been characterized by high rates and a lack of options.
  • Prosper Marketplace also announced its first partnership with a consortium of community banks through Western Independent Bankers, giving more than 160 independent and community banks in 13 western states in the U.S. unprecedented access to affordable consumer loans through the Prosper platform.

We are also proud of the awards and recognition we have received this year. Prosper was recently named one of Forbes’ “Most Promising Companies in America” in 2015 and is part of the Always On 2015 OnFinance Top 100, an award recognizing the most promising private companies in business, personal finance and digital currencies. For the past three years Prosper has been recognized as one of the fastest growing private companies in the Bay Area by the San Francisco Business Times.

Thank you to all of our customers and partners for your continued support. Every day we are working hard to exceed your expectations of what a financial company can be.

 

 

03/31/2015 by in Borrowers, Featured, Lenders, Personal Finance Education, Prosper News, Prosper Spotlights

Karate Academy Improves Student Training with New Equipment

Posted by Bill Walker

Note: This post is based on a video submitted to our $2 Billion Strong Contest. To see more videos, visit our Facebook page.

Kevin Johannes, a seventh degree black belt and owner of TASK Karate Academy, borrows through Prosper Loans because it offers him the best interest rates. But, that’s not the sole purpose of his loans.

As the owner of a karate and family fitness center in Wixom, Michigan, Johannes took out a loan to buy new exercise equipment for the preschool and kindergarten programs. With new foam machines and trampolines, preschoolers can grow strong and stay active, and kindergarteners develop tactical skills by practicing rolls on new floor mats and kicks with target aids.

The Dojo, or training hall, is fully matted for safety and mirrors help students develop proper form. Students use heavy bags, focus mitts and kick target aids to improve their technique and learn proper contact. Because the academy has updated equipment, students receive more advanced training and are winning more competitions, including the World Karate & Kickboxing Commission World Championships. Johannes is thankful to the Prosper community for helping him teach young kids karate skills and self discipline with updated equipment — and we’re thankful to him for training a new generation of karate kids!

03/04/2015 by in Borrowers, Featured, Lenders, Personal Finance Education, Prosper News, Prosper Spotlights

Prosper Marketplace Partnership with Western Independent Bankers Expands Credit Opportunities for Small Banks and Their Customers

We’re excited to announce today a partnership with Western Independent Bankers — a consortium of small community banks — that will give more banks the opportunity to offer credit to their customers, and more consumers access to affordable loans.

Banks are under increasing pressure to deliver attractive interest rates for all consumers, and smaller banks just can’t compete with the big institutions in offering credit, primarily because of overhead and other operating costs. At Prosper Marketplace, we believe that independent and community banks are essential to the future of the American economy, and this partnership gives them the ability to broaden their product offerings and vie for a piece of the credit market.

This exclusive WIB Endorsed Program partnership with Western Independent Bankers (WIB) opens the consumer credit doors to more than 160 independent and community banks in 13 states in the U.S. WIB provides community banks with networking opportunities, educational programs and access to new products and services. Not only does the partnership allow consortium banks to offer access to unsecured loans to customers, but it educates consumers about alternative lending as a smarter, lower cost option for borrowing money.

Community banks comprise 96.8 percent of all banks in the U.S., amounting to nearly 7,000 community banks with more than 50,000 locations. They’re the primary source of lending for small businesses and farms. Community banks focus on providing high-quality service for local families and business, much like we do for our borrowers and investors. That’s just one area that we see eye to eye.

Smaller banks are always looking for new ways to generate revenue while offering low interest rates. In fact, interest rate pressures are one of the top barriers community banks face for significant growth. We’re happy to welcome WIB into our community to provide more loans with attractive interest rates to a wider group of consumers.

Aaron Vermut

CEO, Prosper Marketplace

02/26/2015 by in Borrowers, Featured, Lenders, Personal Finance Education, Prosper News, Prosper Spotlights

Prosper Marketplace Announces Acquisition of American Healthcare Lending

Today, Prosper Marketplace is excited to announce its first-ever acquisition — American Healthcare Lending, a leading patient financing platform. This is an important step in expanding our capabilities and bringing our product into a market where we believe it can make a positive impact.

Healthcare lending is a growing industry, and one that we’re excited to become more involved in via this acquisition. The healthcare industry is plagued with high deductibles and spotty customer service. We see a huge need for consumer-friendly, competitively priced financing alternatives for people whose elective medical procedures aren’t covered by insurance or fall below the deductible. American Healthcare Lending gives its nationwide network of healthcare providers the ability to offer affordable loans to patients right from the doctor’s office.

This means that women who need lengthy and costly fertility treatments can pay for them, and patients who need to lose weight and are considering surgical options that insurance won’t cover can still get them. They won’t have to wait to get treatments that can improve their quality of life. They don’t have to walk away from procedures that could make their future brighter. Health and wellness aren’t luxury items.

This is best illustrated by Scott, the winner of Prosper’s $2 Billion Strong video contest. Scott was in need of gastric bypass surgery. When his insurance wouldn’t cover it because he wasn’t sick enough yet, he turned to Prosper for a loan. You can watch his inspiring story here.

2014 was a year of tremendous growth for Prosper. There were a record $1.6 billion in loans made through the platform, up more than 350 percent from the previous year, with $205 million in December alone. 2015 will be another year of growth, and we’re excited about this opportunity to bring financing options to people in need and to expand into a vital and growing market.

01/27/2015 by in Borrowers, Featured, Lenders, Prosper News, Prosper Spotlights

 

Connect with us

Get Involved

Borrowers
Learn about personal loans and how to borrow money on Prosper.

Lenders
Learn how to invest or more about online investing .

Search

Monthly Archive

In the News

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.