What is Prosper?
Prosper is a marketplace for credit that enables people to lend money to other people in a safe, efficient manner. Prosper is a leap back to a time when people formed credit communities to help themselves live better lives and earn a fair return on their money. Prosper’s founding principle is that people from close communities act more responsibly towards each other. Prosper leverages this powerful concept of community responsibility and applies it to person-to-person lending—resulting in better interest rates for people that borrow and lend. Prosper enables borrowers to request loans up to $25,000 by posting listings indicating the amount they want to borrow and the maximum interest rate they wish to pay. Lenders search for and select these listings based on the borrower’s credit history, debt profile, and other factors. Lenders bid on listings by indicating a minimum rate they are willing to accept.
