Signing up for Prosper



Well, I took the plunge and signed up as a lender on Prosper. They were unable to verify my information online though, so I had to send them a fax. I’m not sure how long the process will take from here — probably less time than it will take me to figure out how to find likely loans to bid on though, so I’m glad the process wasn’t instantaneous. If you lend money via Prosper, how has your experience been? Any tips would be appreciated.

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Posted in Savings & investments on Nov 18, 2007

4 Responses to “ Signing up for Prosper ”

  1. # 1 Tom Says:

    I signed up for prosper about a year ago and had no troubles. I only tried out one loan with a low return rate but I just wanted to try it. I’m sure the experiences are different with every user wanting money. It’s defintely worth a shot!

  2. # 2 Dan at Everyday Finance Says:

    I started off with an awesome return profile, had been 80 loans with no lates/defaults for about 6 months. However, just now, a couple started to go south. I still have an “above-cash” estimated return, but double digit returns over 3 years may not happen. I’ve posted prolifically about lessons learned and tips for avoiding defaults, feel free to visit if interested. Dan

  3. # 3 Jay Muntz Says:

    I wrote about my experience here.

  4. # 4 Minimum Wage Says:

    I signed up but after reading the forums decided nobody would be interested in lending to someone earning minimum wage.


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