Prosper.com Celebrates Five Years of Peer to Peer Lending
Prosper.com, a California-based peer-to-peer lending company, recently celebrated the fifth anniversary of its founding. The company pioneered the peer to peer lending business in which borrowers take out loans from borrowers through its peer to peer lending marketplace.
Prosper.com celebrated the anniversary by agreeing to pay a borrowers’ second payments that registered for loans on its anniversary. Prosper.com has since setup a number of other short-term offers that can be seen on their blog.
Here’s the press release that Prosper.com Issued:
San Francisco – February 16, 2011 – Five years ago, Prosper.com was launched, creating the world’s first online peer-to-peer loans marketplace. 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.”
Larsen had previously co-founded and built E-LOAN into what was heralded as one of the most trusted consumer brands. Prosper was a continuation of his vision to leverage the Internet to make consumer lending markets more efficient, transparent and trustworthy. When Prosper launched in 2006, it ushered in a new era of consumer lending that removed barriers for borrowers and created a new asset class with social and financial benefits for individual investors.
Today, Prosper has grown into a thriving community of lenders and borrowers with more than 1 million members and approximately $220 million in funded loans. Prosper’s five years of experience and actual P2P lending data, along with its world-class risk management team, enables the best borrowers to get rates as low as 5.9% APR**, and investors to get actual annual returns averaging 10%***—the best in the category.
To celebrate its birthday and thank the community, Prosper will run a limited time promotion tomorrow only. For anyone who applies for a loan on Prosper.com and submits a listing on the site on Thursday, February 17, between 12:00 a.m. PT and 11:59 p.m. PT, Prosper will cover their second month’s payment up to $300.* Complete information on the terms and conditions of this promotion can be found online at the Prosper Blog. Or click here to view the latest borrower rates.
“I couldn’t be more excited about the future of the industry,” Larsen added. “While traditional banking and Wall Street credit continue to leave many people without access to funds, we are seeing an increasing number of loans funded on Prosper. In 2011, Prosper will continue to refine its platform and provide borrowers with the best interest rates while continuing to provide our lenders with the industry’s best return rates.