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Prosper.com (and P2P Lending) Turns Five Today

February 17, 2011 By Peter Renton Leave a Comment

Views: 2

Peer to peer lending pioneer, Prosper, turns five today. This means that today, peer to peer lending in the US is officially five years old as well. To celebrate Prosper is giving new borrowers who submit a loan today a little gift. Prosper will make your second loan payment for you (up to $300). Here are the details from the press release yesterday:

To celebrate its fifth anniversary, Prosper will run a special one-day promotion for borrowers tomorrow. For all new loans submitted on February 17, 2011, Prosper will cover the borrower’s second month’s payment up to $300.*

“As a thank you to the Prosper community, we’re pleased to offer this promotion to help borrowers save even more money,” said Chris Larsen, CEO and co-founder of Prosper.com. “Without the support of our members and the hard work of my colleagues, Prosper wouldn’t be what it is today.”

Here is the fine print denoted by the asterisk above:

*To be eligible for the promotion, a borrower must submit a loan listing between 12:00 a.m. and 11:59 p.m. PT on February 17, 2011, and that loan listing must result in an originated loan. If a borrower meets these criteria, Prosper will credit the borrower’s second loan payment up to $300. The credit will be posted to the borrower’s account within 30 days of receiving the borrower’s first payment. All personal loans are made by WebBank, a Utah-chartered Industrial Bank. Eligibility for a loan is not guaranteed and requires that a sufficient number of investors commit to fund the loan.

If you are thinking about taking out a loan on Prosper today would be a good day.

Filed Under: Borrowing Tagged With: Prosper, special offers

Views: 2

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LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

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