Borrowers can request loans up to $35,000 by posting listings indicating the amount they want to borrow and the maximum interest rate they wish to pay. A Prosper borrower listing is a request by a Prosper borrower member for a loan. Prosper borrower loans are unsecured, fixed rate loans with multiple terms. Borrowers are asked to put the purpose of the loan, personalize the picture with one of themselves or their business and write a description about how they plan on using the loan. The credit information is pulled from a credit bureau. All of this information can assist lenders in making a bidding decision.
There are hundreds of listings to view. You can browse all the listings by clicking on the Invest tab. Featured loan listings show a selection of listings currently available to bid on. You can also view all listings and sort further by different variables such as time left, amount and loan category.
The Search Loans tool provides the ability to search by Prosper Rating or by keyword listing. There is also an advanced search capability to enable you to search and sort on a more granular level. You can even save advanced searches for later re-use.
Lenders have complete visibility into the borrower's available credit history and the loans that underlie their investments. Prices are established by an open auction and Prosper has no stake in the pricing of the transactions.
At Prosper we want to ensure that as a lender you have tools available to make an informed decision, so you can earn a stable, good return on your investment.
The Notes that correspond to specific borrower listings are offered pursuant to the prospectus. Investors should read the complete description of the Notes and risks associated with making an investment in the Notes as well as other information about us and our platform in the prospectus.