It’s like the eBay of unsecured loans - very cool site. Anyone can lend or borrow on the site in amounts of up to $25,000. Prosper does all the credit checks, screening, and financial transfer for a low fee. So it’s safe and great place to get quick cash, or lend out money at high rates. Thought some of you might appreciate it: http://www.prosper.com
See the following posts:
Giving Up On Prosper.com
Another Prosper.com Update
It’s not a bad idea, but buyer beware.
He only points out the risks lenders take by using prosper.-- I think most people here would be interested in borrowing on the site, and its a great place to do that.
Anybody here get money through there? I am looking at borrowing to pay off debt at lower rates then later on using it to get some startup capital for my first RE purchase.
I posted a request on there, feel free to bid away…no late payments ever. Score dragged down by high card balances and DTI, working hard to reduce those balances…
https://www.prosper.com/public/lend/listing.aspx?listingID=35676
Glad you decided to give it a try, it’s a great site. Unfortunately though, the rate at which you listed you loan is unrealistically low, and you will not get funded. Check out this table to see the rates different credit grades typically get: https://www.prosper.com/secure/borrow/
With your D grade credit you’re going to have to offer around 19%.
Note the cap rate in my state in my listing, I could only go up to 12%. I might go up to 12% but that’s the max for me. I’m hoping people see my flawless payment history and give me a shot. My DTI and high card balances are killing me though as far as my rating. Of course that’s why I am trying to borrow money to get that paid down faster. Plus the other side of the coin is that I am borrowing that cash specifically to pay a card off that is 17.9%, 19% would actually be costing me an extra 1.1%. 
If your income increases like mine did because I stopped doing as many 1031s it is almost impossible to get them through. and credit score increases, nope, nada they won’t update. Its annoying.
boy what a brck wall ! Prosper . com shows promise to those that have lost their position and want it all back again but like ike everything is going to be uphill battle all the way ,… but that is what it takes for some to learn !
I’ve been a lender on prosper for over a year and am pleased with the performance of my portfolio. It’s an intriguing business model.