Robert credits his parents who are "very compassionate people" for having helped him to grow a "big heart for social justice issues." A yacht broker by day, Robert works with the homeless through his church and is also a lender to the working poor in developing countries through www.kiva.org, a microfinance non-profit.
"Prosper was my first introduction to the idea of personal lending," Robert says. A friend told him about Prosper during a conversation about how to "both do good things and make money at the same time." Making good returns and being the "source of good things that help people accomplish their dreams", seemed the perfect fit.
Personalizing The Personal Loan
Robert especially likes that he is making available personal loans to real people. "I like the idea of Prosper because it personalizes and humanizes the lending process," he says. Robert likes knowing that his dollars are attached to a specific person and a specific project.
Compare to Bank Rates
Another thing Robert likes about Prosper is the return he gets on his money. "It's empowering to know that you can help people out and make money like banks do at the same time," Robert says. "Of course there's a bit of risk, but I literally triple what I would be making if I had it in a CD and infinitely more than if it were sitting in a bank account."
As of February 1, 2013, the Prosper marketplace was transferred by Prosper Marketplace, Inc. to Prosper Funding LLC, a wholly-owned subsidiary of Prosper Marketplace, Inc. From and after February 1, 2013 Prosper Funding LLC is the sole obligor of Notes offered and secured by loans made through the Prosper marketplace, including Notes originally issued by Prosper Marketplace, Inc. prior to such transfer. Prosper Marketplace, Inc. continues to provide services to Prosper Funding LLC relating to loan and Note servicing, and may interact with borrowers and investors in relation thereto as agent of Prosper Funding LLC. Except where otherwise noted, throughout this website “Prosper” refers to Prosper Funding LLC including acting directly or through its agents.
**All personal loans are made by WebBank, a Utah-chartered Industrial Bank, Member FDIC. All Prosper personal loans are unsecured, fully amortized personal loans.
Notes offered by Prospectus. Notes investors receive are dependent for payment on personal loans to borrowers. Not FDIC-insured; Investments may lose value; No Prosper or bank guarantee. Prosper does not verify all information provided by borrowers in listings. Investors should review the prospectus before investing.
*Seasoned Return calculations represent historical performance data for the Borrower Payment Dependent Notes (”Notes”) issued and sold by Prosper since July 15, 2009. To be included in the calculations, Notes must be associated with a borrower loan originated more than 10 months ago; this calculation uses loans originated through May 31, 2012. Our research shows that Prosper Note returns historically have shown increased stability after they’ve reached ten months of age. For that reason, we provide “Seasoned Returns”, defined as the Return for Notes aged 10 months or more.
To calculate the Return, all payments received on borrower loans, net of principal repayment, credit losses, and servicing costs for such loans, are aggregated and then divided by the average daily amount of aggregate outstanding principal. To annualize this cumulative return, it is divided by the dollar-weighted average age of the loans in days and then multiplied by 365.
All calculations were made as of September 30th, 2013. Seasoned Return is not necessarily indicative of the future performance on any Notes.