While Lending Club may be the main platform on the peer to peer lending scene, experienced lenders are quick to remind the public that there is another option worth considering. Prosper hails from San Francisco like Lending Club, and currently has about 15% of the market. They are the underdog, with their struggle giving both benefits and drawbacks to their lenders.
What are the benefits of lending money through Prosper? What kind of experience can you expect to have when investing through them?
In this Prosper review, we will examine the entire platform from the foundation up, identifying its strengths and highlighting its weaknesses.
Like our review of Lending Club, this post is written for those of you who have yet to take the leap and begin peer to peer lending. Our goal is that, by opening up the platform with a full Prosper review for the general public, there will develop a greater sense of trust for the idea of peer to peer lending, and in parallel we will bring more people to open an account and try it for themselves.
Let’s get started.
Learn the Basics
Simon,
Oh man, I remember getting burned in 2008 and it left a pretty bad taste in my mouth. That was followed by the blackout period in 2009. I started again a few years later and have been really happy with Prosper. They put in a lot of changes to make it a more legitimate investment option. Good write up!