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Prosper Loan Update

Groan. No new action on my air conditioning loan.Bid on my listing at Prosper, people-to-people lendingWell, I still am hoping for the best, but expecting the worst. The good news is that the temperature has finally dropped below 80 during the days as we progress into the Fall season. That is great, then I can chill out and wait for a while before I really need an air conditioner. Maybe that is what I will ask for for Christmas.

I certainly learned a lot about Prosper. I hope they can evolve to remove some of the restrictions on borrowers that make it impossible to get a loan in some states. I thought that Virginia was bad with a 11% interest cap, but apparently there are other states that are even lower.

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So, does anyone know when Loanio – People Lending to People – is going to finally launch?


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This entry was posted on Wednesday, September 12th, 2007 at 9:19 pm and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.





  • http://prosperlending.blogspot.com Tom

    I interviewed the CEO of Loanio back in August. He said it would launch this fall. They are probably going to have the same restrictions.

    Lending Club has the same interest rate caps but it would be interesting to see if you get a different result there.

  • Administrator

    Tom – you are correct – any other P2P lender would be bound by the same state laws as Prosper.