Joining a Group

What is a group?

On Prosper, groups are borrowers who share a common interest. A group can be large or small, based on a community organization or nationality or even a common interest, like muscle cars or knitting. Groups can be religious, ethnic, or educational... the options are as varied as the members who form them.

Do I need to join a group to get a loan?

No. Borrowers are not required to join a group in order to post listings on Prosper. Just click "Create a listing" and get started borrowing.

Why do borrowers join groups?

Borrowers join groups because they have been invited to join by the group's leader, or because they believe that they can get a better interest rate with the group's reputation behind them.

Even though a borrower will still individually request a loan and is solely responsible for its payment, the borrower's performance has an effect on his or her group. Because lenders can view the aggregate repayment history of groups, lenders' confidence in you and your group may depend on your group's repayment performance.

How do I join a group?

Once you find a group you'd like to join, click "Join this group" on their group home page.

If you are not registered with Prosper, you will be asked to fill out a quick registration form. Registration is free.

Once registered, you will send a short note requesting membership to the group's leader. Share as much as you feel comfortable with. The group leader should get back to you within seven days about the status of your membership request. You can withdraw your request to join a group at any time, and request to join another group instead. Once you are a member of the group, you can create your loan listing as a member of the group.

What is a group leader?

Each group begins with a designated group leader who is responsible for setting up a group home page and inviting members. Prosper has an easy template for setting up a group page. Some group leaders form groups based on their community interests or prior affiliations, such as membership in a club, social organization or religious association. Learn more about becoming a group leader.

What is "listing review"?

Some group leaders will require their borrowers to submit new listings for their review before they are put on the marketplace. If you join a group that requires listing review, when you finish creating your listing, the group leader will have up to 7 days to review your listing and make a decision on the listing:

If the listing is approved, the listing will become live on the marketplace for the full duration selected (e.g., 7 days).
If the listing is declined, the listing will be cancelled and you may create a new listing at any time.

Can I join more than one group at a time?

No. You may only join one group at a time.

Can I leave my group?

You can leave your group as long as you don't have an active listing. To leave your group, just go to "My Account > Profile", find the "Group Membership" box, and click "Leave".

If you have an active listing, you will not be able to leave your group until the listing has ended or is withdrawn.

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