Prosper Marketplace Inc. is the world's largest peer-to-peer lending marketplace with over one million members and more than $214 million in funded loans.
Prosper allows people to invest in each other in a way that is financially and socially rewarding. Borrowers list loan requests between $2,000 and $25,000 with loan terms of 1, 3, or 5 years. Individual and institutional investors invest in minimum increments of $25 on loan listings they select. In addition to credit scores, ratings and histories, investors can consider borrowers' personal loan descriptions, endorsements from friends, and community affiliations. Once the auction ends, Prosper handles the funding and servicing of the loan on behalf of the matched borrowers and investors.
Prosper was co-founded by Chris Larsen, co-founder of E-LOAN. Prosper has raised $57.7 million in venture capital and is backed by financial and technology luminaries including, Jim Breyer of Accel Partners; Bob Kagle of Benchmark Capital; CompuCredit; Omidyar Network; Capital One Co-founder Nigel Morris of QED Investors; Court Coursey of TomorrowVentures; and Larry Cheng of Volition Capital.
†Blue Nile Credit Card Account, offered by World Financial Capital Bank ("WFCB"), a Comenity℠ company, who determines qualifications for and terms of credit. Promotion eligibility varies and is determined by WFCB. Minimum monthly payments are required and at no time will the minimum payment due be less than $25.00. Minimum Interest Charge is $2.00. Standard variable APR of 26.99%, based on the Prime Rate.
†† No Interest if paid in full within 6 or 12 months.
No Interest if paid in full 6 or 12 months. Interest will be charged to your account (at the standard, variable APR) from the purchase date if the purchase balance is not paid in full within the promotional or if you make a late payment. Minimum monthly payments for this plan during the promotional period will be the greater of: the amount of $5.00 or 1% of your account balance (rounded up to the nearest $1.00). Required minimum purchase of $500.00 for the 6 month plan or $1,500.00 for the 12 month plan.
††† 9.99% APR if paid in full in 24, 36 or 48 months.
If the balance is not paid in full in 24, 36 or 48 months or if you fail to make any payment when due, regular credit terms will apply and interest will be imposed from the end of the promotional period at the standard, variable APR. Minimum monthly payments for this plan during the promotional period will be the greater of: the amount of the purchase divided by the number of months in the promotional period, (rounded up to the nearest $1.00); or $5.00. Required minimum purchase of $2,000.00 for 24 month plan; $3,000.00 for 36 month plan; $4,000.00; for 48 month plan.