SAN FRANCISCO — February 26, 2015- Prosper Marketplace, a leading marketplace lending company, today announced that it has signed an exclusive WIB Endorsed Program partnership with Western Independent Bankers (WIB). This deal will give WIB member banks, which include 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.
“Independent banks are essential to the health of the American economy, but in order to compete and win customers, they need to be able to offer compelling products that are competitively priced and easy to understand,” said Aaron Vermut, CEO at Prosper. “Prosper has facilitated billions of dollars in loans through its platform and continues to grow because our product is fast, convenient, and extremely consumer-friendly. We’re very excited to work with WIB and its members to expand awareness of a smarter, lower-cost alternative to borrowing money through traditional means.”
WIB is a leading resource for community banks, providing networking opportunities, educational programs, and access to innovative products and services that help achieve and maintain organizational excellence.
“Our role at WIB is to provide our member banks with information about the latest trends in the industry, as well as access to quality products and services that enable them to deliver the highest level of service to their customers,” said Betty House, senior vice president of product development and chief technology officer at WIB. “We believe Prosper Marketplace has the scale and requisite infrastructure to provide WIB member banks with access to a compelling product for unsecured consumer loans. This partnership also gives our members the opportunity to invest in this asset class, which offers attractive returns.”
About Western Independent Bankers (WIB)
Western Independent Bankers (WIB) has been helping community bank executive management and board members solve their challenges for more than 75 years. WIB informs, educates and connects community banks with the resources and services to achieve the highest standards of personal and organizational performance. WIB serves community banks in 13 western states, including Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington and Wyoming, plus U.S. Territories. For more information go to www.wib.org.
Prosper Funding LLC (Prosper), headquartered in San Francisco, is a leading online marketplace for consumer credit. Prosper connects people who want to borrow money with people who want to invest money. With a commitment to providing world-class customer service, the convenience of applying online day or night, and none of the lengthy applications or wait times associated with traditional avenues, Prosper offers people a superior way to borrow money at fair rates. Over the past six years, more than $2.5 billion in personal loans have originated through the Prosper platform, helping people around the U.S. consolidate credit card debt and finance major purchases. Learn more about borrowing and investing through Prosper at www.prosper.com. “Prosper Marketplace,” founded in 2005, is the parent company of Prosper Funding LLC.
All personal loans are made by WebBank, a Utah-chartered Industrial Bank, Member FDIC. All Prosper personal loans are unsecured, fully amortizing personal loans. Notes offered by Prospectus.