Today we announced that the Prosper platform is now available to investors in Indiana. With the addition of Indiana, Prosper is now open to investors in 32 states and the District of Columbia. We appreciate the work of the state regulators to bring this investment opportunity to its residents.
As one of the only platforms open to unaccredited individual investors in the U.S., Prosper offers a great way for individuals to diversify an investment portfolio with an asset class that provides attractive returns.
Indiana residents can open a traditional investment account or a Prosper retirement account, which offers certain tax advantages. We suggest a minimum investment of $2,500 in order to properly diversify across at least 100 notes.
For borrowers, marketplace lending offers access to competitively priced loans that have fixed terms, transparent fees and no prepayment penalty. Borrowers come to Prosper to consolidate high-interest debt or fund large purchases such as home improvement projects, medical expenses, or weddings and other special occasions.
The news about Indiana follows our announcement last week of another record quarter that has pushed us above $4 billion in loan originations through the platform since it launched in 2006. We just closed out our largest quarter ever — $912 million in loans originations through the platform, a staggering increase of 1166% in two years.
We’re thrilled to welcome Indiana investors to the platform and to be able to offer more people a better way to borrow and invest. We look forward to working with more states in the future.