Listing Basics

What is a listing?

A listing is another word for a loan request, or to use traditional language, a loan application. On Prosper, a borrower creates a listing when he or she wants a loan, and lenders use a borrower's listing to decide whether or not they want to lend money to the borrower.

A borrower can only have one listing at a time, and there is no cost to a borrower for creating more than one listing.

Who can create a listing?

Any U.S. resident with a Social Security number, a valid bank account, and an Experian credit score of at least 520 can create a listing on Prosper. Everyone who creates a listing on Prosper has had their identity verified by Prosper.

How long do listings last?

Listings last 7 days, and the borrower can choose to withdraw their listing at any time or fund it if it is 100% funded.

Active listings are always viewable on the marketplace. For privacy reasons, however, ended listings can only be viewed by registered Prosper lenders.

What is automatic funding?

Automatic funding is an option for borrowers who want their money quickly and would be satisfied by a specified interest rate, rather than a potentially lower interest rate that could result if the listing were subject to continued bidding.

In the case of automatic funding, as soon a borrower's requested loan amount is met by enough bidders, their listing will close and loan proceeds will be transferred into the borrower's bank account. Since the borrower didn't keep the listing posted long enough for bidders to bid the interest rate down further, the interest rate on immediate funding listings may be higher than other similar listings.

It is still possible to be outbid on an automatic funding listing. Because the listing doesn't fund until enough bids have been placed, and since the bid counting process is the same for automatic funding listings as it is for non-automatic funding listings, if a lender has placed a bid of more then $50, it is possible that he or she will be outbid by a lender who has placed a bid at a lower interest rate. In case of a tie in interest rates, the lender who bid first will get priority, but bids will always be counted by minimum interest rate first, and then time of bid. Learn more about bidding.

Other elements of listings:

Lending help

Getting started

Understanding listings

Finding listings

Bidding on listings

Listings become loans

Managing your loans

Delinquencies and defaults

Statements and taxes

Lending tutorials

Other resources

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