P2P No Bank

On October 31,  Prosper hosted its annual Halloween party – a tradition that is now in its third year. While we would love to share all the costumes, we just don’t have the room, but suffice to say the creativity that exuded from the team was astounding. We had a wide range of ideas – and impressively [...]

• Costumes Vintage Pre-1960 Halloween Holiday, Seasonal Collectibles

• Democratic Party US Political Historical Memorabilia Collectibles

Continue reading → Prosper’s Halloween Party

A lot happened on November 4th. The people voted and we elected a new President. Today, November 5th while America is rejoicing in the end of a very long election process,  the Brits are celebrating another year of their beautiful Houses of Parliament, democracy and religious freedom.
November 5th is a wonderful night in England – it’s [...]

• President US Political Historical Memorabilia Collectibles

• Current Year, Next Year Calendars Paper Collectibles

Continue reading → Happy November 5th!

As described on the September 24 site update, borrowers whose loans were 91 or more days past due on that date (and not in bankruptcy proceedings) received a notice of acceleration. The Notice of Acceleration is a warning that the loan will be accelerated in 30 days, meaning the loan will be due and payable [...]

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• Credit, Charge Cards Trading Cards Collectibles

Continue reading → Charge-offs begin today

Prosper changed the way we report most severely delinquent loans from “Defaulted” and “4+ months late” to “Charge-offs” in September.
Borrowers whose loans are 91 or more days past due (DPD) will receive a “Notice of Acceleration”. The Notice of Acceleration is a warning that their loan will be accelerated in 30 days, meaning the loan [...]

• Halcyon Days Decorative Collectible Brands Decorative Collectibles Collectibles

Continue reading → Prosper adds new loan object status to API

During our quiet period, we are required to remove portions of the site, including your comments and exchanges. 
Thank you for your understanding and support.

• Support Protective Gear Clothing, Shoes Accessories Gym, Workout Yoga Exercise Fitness

• Original Period Items 1700-74 Militaria Collectibles

Continue reading → Notice to our Community Members

Prosper has started a process to register, with the appropriate securities authorities, promissory notes that may be offered and sold to lenders through our site in the future.
The registration filing is a necessary step toward making the secondary lending market available to the community. This is something many of you have been asking for, and [...]

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• Federal Reserve Notes Large Size Notes Paper Money US Coins Paper Money

Continue reading → Prosper Filing Registration Statement; Enters Quiet Period

Prosper, America’s largest people-to-people lending marketplace for personal loans, released results for September 2008.
Chris Larsen, discusses what role Prosper will play and what trends we are seeing in the wake of this full blown crash of the global financial system.
Market Commentary By Prosper Co-founder and Chief Executive Officer, Chris Larsen
In the midst of one of [...]

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• Canteens Personal, Field Gear Surplus Militaria Collectibles

Continue reading → September 2008 Market Survey Results for Prosper Personal Loans

Like any good neighbor, we need to be on the lookout for predators in the community.
Recently, a fellow community member was approached (via a Prosper Message) by a “potential lender” interested in supporting their listing. The lender requested additional information on the borrower’s business, including their website and/or yellow page link. Shortly after providing the [...]

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• Cast Member Exclusives Contemporary 1968-Now Disneyana Collectibles

Continue reading → Neighborhood Watch

Prosper updates the portfolio plan templates regularly in order to reflect changing risk and interest rate conditions in the marketplace.  It is important that you update your portfolio plans, as these updates include changes to bidding rates based on the most recent loss rate projections.
If plans are not updated regularly, there is a good chance [...]

• Plans, Blueprints Guides Building Hardware Home Improvement

• Heart Rate Monitors Monitors Pedometers Gym, Workout Yoga Exercise Fitness

Continue reading → Why Portfolio Plans should be regularly updated and reviewed

We have made the decision to discontinue accepting new lender registrations, and new bids from existing lenders, from residents of the Commonwealth of Pennsylvania. Our decision to make this change was based on our ongoing discussions with regulators in Pennsylvania, which led us to believe the change was necessary to comply with their current interpretation [...]

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• Pennsylvania US State, Town Views Postcards Collectibles

Continue reading → Important Notice for Lenders Residing in Pennsylvania

Chris Larsen is Prosper’s Co-founder and Chief Executive Officer
When we first introduced the monthly market survey one year ago, we noted that the impact of the credit crunch on the Prosper marketplace was broadly constructive. At that time we noted that as consumers began experiencing the evaporation of introductory credit card rate offers and home [...]

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• Impact Drivers Wrenches Corded Drills Power Tools Tools Home Improvement

Continue reading → Impact of the credit crunch on Prosper mainly constructive: comments Chris Larsen in the August 2008 Prosper Monthly Market Survey

A highly unusual Prosper borrower bankruptcy case, which is of course a matter of public record, has raised questions among some members of the Prosper lender community. Therefore, we believe it is appropriate and necessary to provide factual clarity to set the record straight.
Specifically, the discussion centers on three main questions:
1) Is this a case [...]

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• Straight Razors Shaving Vanity, Perfume Shaving Collectibles

Continue reading → The Facts of the Matter

Prosper, America’s largest people-to-people lending marketplace, today released results for July 2008. For the first time, the survey includes statistics showing how borrowers who list and get funded in the Prosper marketplace indicate how they plan to use their personal loans. Also noteworthy, the percentage of prime borrowers (borrowers with 720+ credit scores) hit an [...]

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• Americas Antiquities Antiques

Continue reading → Prosper Releases Market Survey Results for July 2008

Starting a business is a daunting task – but for many it is a desire to follow a dream. To embrace risk…and the possibility of failure. It’s impressive how many people start businesses, follow their dreams and take those risks. And we see it everyday on Prosper – interesting stories about members’ business ideas.
As I glanced [...]

• Hydroponics Seed Starting Gardening Plants Yard, Garden Outdoor Living

• Hydroponics Hydroponics Seed Starting Gardening Plants Yard, Garden Outdoor Living

Continue reading → Starting your own Business

In October 2007, Prosper launched a Facebook application for our members. In April 2008, we then launched a new Facebook application which allows people to transfer funds to their Prosper lending account instantly. We provided this service because lenders wanted a more immediate ability to bid on loans they liked without having to wait for [...]

• Service Businesses Businesses for Sale Opportunities

• People Postcards Collectibles

Continue reading → Prosper Facebook Application Reaches 5,000 Users

With summer upon us, taking to the road is a delightful way to see America in all its beauty. Many like to do this economically by purchasing or renting an RV. While gas may be expensive, the costs of your overnight stays are minimal. However, vehicle financing has been a complicated process that usually ended up being [...]

• Summer Olympics Autographs-Original Sports Collectibles

• Rescue, Emergency Vehicle Historical Memorabilia Collectibles

Continue reading → Recreational Vehicles for Summer Fun

There used to be several ways to be able to get a loan. Now, with the credit crunch it has become considerably harder. For example, if you are in the market for a new or used car or just want to reduce your monthly payments on your car, there are a couple of different ways [...]

• Credit, Charge Cards Trading Cards Collectibles

• Heart Rate Monitors Monitors Pedometers Gym, Workout Yoga Exercise Fitness

Continue reading → Low Rate Unsecured Personal Loans for Many Uses

Market Commentary By Prosper Co-founder and Chief Executive Officer, Chris Larsen
In June, two very interesting independent academic studies were released. The first study by Economists Ginger Zhe Jin and Seth Freedman of the University of Maryland looks at Prosper’s market since inception to determine average returns and other interesting conclusions about the market.
Another study led [...]

• Maryland US State, Town Views Postcards Collectibles

• US Maryland License Plates Automobilia Transportation Collectibles

Continue reading → Prosper Releases Market Survey Results for June 2008

Peer to peer lending is possibly the oldest form of financing in the world, and although some aspects of it have changed throughout the centuries, the basic concept remains the same and it remains strong. Peer to peer lending is often at the forefront of helping those in developing communities around the world, as well [...]

• Coins World Coins Paper Money

• World Exonumia Coins Paper Money

Continue reading → A Timeline of Modern Peer to Peer Lending

Although peer-to-peer lending has been around since the earliest recorded civilizations, it was not until recently that it became a recognized phenomenon. The birth of the Internet changed the face of peer-to-peer lending, giving an old concept a new name and a new focus. Throughout history, peer-to-peer lending has been responsible for building cities, keeping [...]

• Internet Businesses Websites Businesses for Sale Opportunities

• Postal History Worldwide Stamps

Continue reading → Peer-to-Peer Lending in Modern Times

From the beginning of time, humans have been wired to keep succeeding, to amass more goods, and to expand their horizons. For many, this meant getting a loan from a friend to tide them over until the next harvest, or until a shipment of goods came in. Peer-to-peer lending has been in existence for thousands [...]

• Postal History Worldwide Stamps

• Wired Security Cameras Home Security Home Improvement

Continue reading → History of Peer-to-peer Lending

For as long as there has been a need for loans, peer-to-peer lending has played a strong role in the formation of many societies and cultures. Most of the ancient world was built on the backs of these loans, as farmers and merchants carved out their own swathe of history. We can look back thousands [...]

• Coins Ancient Coins Paper Money

• Byzantine Coins Ancient Coins Paper Money

Continue reading → Peer-to-Peer Lending in Ancient Times

Brandi W. needed a modest loan to help cover expenses during her senior year in administration of justice and forensic chemistry at Southern Illinois University. Brandi took school loans for her education in the past, but she wanted something she could start paying on right away to keep her post-school debt to a minimum. 
Unusually prudent [...]

• Southern Comfort Distillery Advertising Collectibles

• Current Year, Next Year Calendars Paper Collectibles

Continue reading → A Student Loan for a Prudent Student

When you’re a student, life can get pretty expensive and unless you have a steady income coming in, it can be difficult to take care of your every day needs. Many students decide that the best way to handle looming expenses and continue their education without worrying is through a low rate personal loan. However, [...]

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• Pretty as a Picture Enesco Decorative Collectible Brands Decorative Collectibles Collectibles

Continue reading → New Ways to Finance Loans for Student Expenses

The life of a student is incredibly hard at times and expenses can quickly mount up. Tuition costs are rising every year, books are getting more expensive and it can be difficult to find the right kind of housing on a budget. The vast majority of new students may find that their parents simply cannot [...]

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• Current Year, Next Year Calendars Paper Collectibles

Continue reading → How to Pay For Expenses While You’re In School

As soon as a student decides they will be going to college the expenses start to mount up. From making school visits to determine which school is right, to figuring out how to pay for tuition and books, the whole process can start to feel very confusing. In addition, without the right kind of unsecured [...]

• College Basketball Cards College Trading Cards Cards Sports Collectibles

• College Football Cards College Trading Cards Cards Sports Collectibles

Continue reading → How to Finance Your College Expenses the Easy Way

Market Commentary By Prosper Co-founder and Chief Executive Officer, Chris Larsen
In May, a record number of loans – in terms of dollars and units – were funded in the Prosper marketplace. The sudden increased supply of loan listings with an attractive risk-return tradeoff (as cited in last month’s survey) was the key driver of the [...]

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• Display Units, Towers Humidors Cigar Tobacciana Collectibles

Continue reading → Market Survey Results for May 2008

If you’re getting ready to attend college in the fall, chances are you’re trying to figure out which school is right for you. If you have already gotten a lot of acceptance letters or you aren’t sure where you should apply, a visit to the college is usually in order. You can really get a [...]

• College Basketball Cards College Trading Cards Cards Sports Collectibles

• College Football Cards College Trading Cards Cards Sports Collectibles

Continue reading → Finance Options for College Visits

If you’re considering taking a vacation this year, it may be a smarter idea to get a personal loan than rely on high interest rate credit cards. Rising gas prices have made travel almost prohibitive and you can easily run up a huge bill just filling your tank. Summer is the time to kick back [...]

• Credit, Charge Cards Trading Cards Collectibles

• Computers, High Tech Advertising Collectibles

Continue reading → High Gas Prices Making Vacations More Expensive

In the past, many people taking a vacation had to rely on their credit cards for their expenses. Everything from airfare to souvenirs goes on your card and pretty soon, you’re feeling the pain of those high interest rates. As more consumers become concerned about keeping their rates low and minimizing their debt, taking a [...]

• Deals Ski Vacation Packages Skiing Vacation

• Credit, Charge Cards Trading Cards Collectibles

Continue reading → Easy Ways to Finance Your Next Vacation

As gas prices continue their march towards and beyond $4 a gallon, many Americans have been left wondering what to do about their annual vacation. It’s a tradition in this country to take a vacation during the summer or fall and recharge our batteries. However, this year, it has become so costly to go anywhere [...]

• Deals Ski Vacation Packages Skiing Vacation

• Deals Alaska Skiing Vacation

Continue reading → A New Form of Financing for Vacations

So you’ve found that special person in your life and now it’s time to buy an engagement ring. Buying the right engagement ring can be a costly endeavor and you may find yourself in need of a little financial assistance.  Prosper is the right choice for you.
The community at Prosper provides the support you need [...]

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• Fellowship of the Ring Lord of the Rings Sci-Fi, Fantasy Trading Cards Collectibles

Continue reading → Engagement

These days, many couples who are planning to get married want to pay for the wedding costs themselves.  After all, some couples are getting engaged and married later in life, rather than in their early 20’s.  Therefore, a great number of these men and women have well-developed careers with substantial incomes — so, they feel [...]

• Plate Number Coils United States Stamps

• Halcyon Days Decorative Collectible Brands Decorative Collectibles Collectibles

Continue reading → Dealing with the Financial Strain of Weddings

Many people have a policy about money-they say that they will never lend money to friends or family.  This is because there can be a lot of hassles and aggravations involved in dealing with getting the money back.  Of course, this isn’t usually the situation with small amounts, like $5 or $10, but when it [...]

• Family Guy Animation Characters Animation Art, Characters Collectibles

• Friends of the Feather Enesco Decorative Collectible Brands Decorative Collectibles Collectibles

Continue reading → Borrowing from Family or Friends for Weddings

Many years ago, it was a given that the bride’s family would take on the responsibility of paying for the wedding costs.  The groom’s family generally paid for the rehearsal dinner and the honeymoon, but other than that, all other costs were usually taken care of by the family of the bride.
These days, though, things [...]

• Family Guy Animation Characters Animation Art, Characters Collectibles

• Wedding Ring Quilts Quilts, Bedspreads Textiles, Linens Antiques

Continue reading → Affordable Wedding Finance with Personal Lending

Market Commentary By Prosper Co-founder and Chief Executive Officer, Chris Larsen
In April, we saw the supply of loan listings with an attractive risk-return tradeoff hit an all time high and approximately double compared to the prior month. At the end of March, the supply of loan listings with an attractive risk-return tradeoff was approximately $5 [...]

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• Double Florin UK Great Britain Europe Coins World Coins Paper Money

Continue reading → Market Survey Results for April 2008

In observance of Earth Day, Prosper surveyed US consumers last week to better understand their financial attitudes towards implementing eco-friendly home improvements.
The main finding is that although consumers have a strong desire to implement energy-saving home improvements, they are deterred by the high costs of these projects:

91% care about conserving natural resources
While 60% of survey [...]SHARETHIS.addEntry({ title: “It Ain’t Easy Going Green”, url: “http://blog.prosper.com/2008/04/22/it-aint-easy-going-green/” });

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• Green Day G Rock, Pop Music Memorabilia Entertainment Memorabilia

Continue reading → It Ain’t Easy Going Green

The following is a guest post by a Prosper member: CreditKarma…  You can use the Prosper Performance tool to estimate default risk for Prosper loans.
When I was a marketing and risk analyst with a credit card issuer, the customer’s credit score never really mattered per se. My concern was always with the default risk for [...]SHARETHIS.addEntry({ title: “Is Default Risk Better than Credit Scores?”, url: “http://blog.prosper.com/2008/04/17/is-default-risk-better-than-credit-scores/” });

• Credit, Charge Cards Trading Cards Collectibles

• Marketing Businesses for Sale Opportunities

Continue reading → Is Default Risk Better than Credit Scores?

This is a guest post from Prosper Lender David Makes Cents.
I was just reading an article that I found on Stumble Upon that made me mad! Well ok not really mad because I am a pretty mellow person, but lets just say I didn’t agree with it. The name of their post is pretty [...]SHARETHIS.addEntry({ title: “Why I Think P2P Lending is a Great Idea”, url: “http://blog.prosper.com/2008/04/09/why-i-think-p2p-lending-is-a-great-idea/” });

• Pretty as a Picture Enesco Decorative Collectible Brands Decorative Collectibles Collectibles

• Post-1950 Beds Furniture Antiques

Continue reading → Why I Think P2P Lending is a Great Idea

Market Commentary By Prosper Co-founder and Chief Executive Officer, Chris Larsen
As we have previously reported, Prosper’s mix of “well priced” loans – loans with an attractive risk-return tradeoff – has dramatically changed from the same period last year with approximately a 200% increase in the percentage of “well priced” loans and a six-fold decrease in [...]SHARETHIS.addEntry({ title: “March 2008 Prosper People-to-People Lending Market Survey”, url: “http://blog.prosper.com/2008/04/08/march-2008-prosper-people-to-people-lending-market-survey/” });

• People Postcards Collectibles

• People Figurines Decorative Collectibles Collectibles

Continue reading → March 2008 Prosper People-to-People Lending Market Survey

This is a guest post by Prosper member poppadollars.
A lot has been written about identity theft the last few years. Many people are concerned, and rightly so, that someone will hijack their good name and credit and abuse it. Typically, someone will discover the problem after some time has elapsed and problems have mounted to [...]SHARETHIS.addEntry({ title: “7 Steps to Identity Protection”, url: “http://blog.prosper.com/2008/04/03/7-steps-to-identity-protection/” });

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• Credit, Charge Cards Trading Cards Collectibles

Continue reading → 7 Steps to Identity Protection

Back in January we announced Refunds to Lenders and Group Leaders…

Any lender who has a loan that came from a listing created before Nov 9, 2007 will receive a refund of his or her servicing fees charged in situations where the full monthly payment was not received within thirty (30) days after [...]SHARETHIS.addEntry({ title: “Completion of Refunds to Lenders and Group Leaders”, url: “http://blog.prosper.com/2008/03/27/completion-of-refunds-to-lenders-and-group-leaders/” });

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Continue reading → Completion of Refunds to Lenders and Group Leaders

Guest Post from Living off Dividends. 
I have a blog called living off dividends where I discuss, among other things, my passion for investing and generating income that can be used to replace one’s salary. I have numerous different types of investments like rental properties, stocks, canadian income funds, CDs, foreign currency ETFs as well as [...]SHARETHIS.addEntry({ title: “Why I Love Prosper.com”, url: “http://blog.prosper.com/2008/03/25/why-i-love-prospercom/” });

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• Love Hina Japanese, Anime Animation Art, Characters Collectibles

Continue reading → Why I Love Prosper.com

Market Commentary By Prosper Co-founder and Chief Executive Officer, Chris Larsen.
In February 2008, the percentage of prime loans funded on Prosper once again hit record levels, accounting for 43% of originations. At the same time, the percentage of prime listings on Prosper hit an all time high of just over 18% — a big jump [...]

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• Levels, Plumb Bobs Carpentry, Woodworking Tools Tools, Hardware Locks Collectibles

Continue reading → Prime Borrowing on Prosper Hits Record Levels — February Marketplace Survey

A post from Sean Bauer – author of The Complete Guide to Prosper.com
New York, NY (PRWEB) February 5, 2008 - With all the hype of a possible recession in the United States circulating, many people are taking a look inward and trying to get a grip on their financial situation.  Unfortunately when they start to [...]

• United States Stamps

• Confederate States United States Stamps

Continue reading → Credit Crisis Solution Arises From Unexpected Source

At Prosper Days 2008 Chris Larsen announced the 1st conviction for fraud in which Prosper as been involved. Citing this newspaper article from the news tribune (Lakewood man off to prison for bank fraud.) Many people have asked how this fraud was allowed to occur; what actions Prosper took to facilitate the conviction; and the [...]

• Newspaper Comics Comics Collectibles

• People Postcards Collectibles

Continue reading → Anatomy of Prosper’s Involvement in the Recent Fraud Conviction

The following is a guest post by Prosper Lender Steven Grimes.
I’ve been bidding out money as a lender on Prosper for awhile now, and I find it a great hobby. Some people like skiing, some people like remote control airplanes, I like making money!
I own rental property and it’s a little worrisome at times to [...]

• People Postcards Collectibles

• People Figurines Decorative Collectibles Collectibles

Continue reading → Making Money and Having Fun Helping People!

This is guest post by Prosper member ChrisFS
Just as credit seems to have tightened for many Americans, The Financial Times reports that microcredit pioneer Grameen Bank has opened their first US office in New York city.
According to FT, Grameen banks lent $50,000 to groups of immigrant women in Queens in the last month. The bank, [...]

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• New York City New York US State, Town Views Postcards Collectibles

Continue reading → Grameen Bank Opens Branch in US

Fast Company has named Prosper a Fast 50 2008.  The acknowledgement is in the March issue and on their website.
What if people could borrow and lend money to each other without any banks in the middle? That’s the idea behind two-year-old Prosper.com.
…
The idea melds the debt market with online social networking. Lenders can log on [...]

• Asia, Middle East Paper Money World Coins Paper Money

• China Asia, Middle East Paper Money World Coins Paper Money

Continue reading → Prosper Named Fast 50 2008 by Fast Company

Prosper Days 2008 is right around the corner (Monday and Tuesday, February 25-26, 2008).  It is being held at The Parc 55 Hotel, 55 Cyrl Magin Street, in beautiful San Francisco. To register please visit the website Prosper Days.
The keynote speaker will be Steven Dubner the co-author of Freakonomics the book and the blog.  He [...]

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• Hotel, Motel Advertising Collectibles

Continue reading → Prosper Days 2008 — P2P Lending Fun, Education, and Freakonomics

2 Guest Posts Today From Prosper Members.
Lending on Prosper is Exciting!
by vegetable_lasagna
Sure I could invest money in CD’s, mutual funds, bonds etc. But how boring is that?!?! With Prosper, I feel like I am running my own business - the bank of ME. Except, I don’t have to deal with hiring any employees, answering the phones, [...]

• Bank of Canada Canada North, Central America Paper Money World Coins Paper Money

• Phones Contemporary 1968-Now Disneyana Collectibles

Continue reading → Lending on Prosper is Exciting! & Bid or Not to Bid

Guest post by Brett of Personal Loan Portfolio. 
Although the tax rebate is not yet finalized, many people are already mentally spending the money. Most people only consider the options: save or spend. I have noticed many finance bloggers already announcing their plans to save the rebate. Other people feel it is a patriotic duty to spend [...]

• People Postcards Collectibles

• People Figurines Decorative Collectibles Collectibles

Continue reading → Invest Your Tax Rebate AND Help the Economy

Tomorrow Prosper will mark its two year anniversary. Since launching on February 13, 2006, Prosper’s funded loan volume has grown to over $117 million, up approximately $81 million or 225% from its first year. Prosper’s [...]

• Current Year, Next Year Calendars Paper Collectibles

• New Year Holiday, Seasonal Collectibles

Continue reading → January Marketplace Survey — Prosper Turns 2 with 580,000 Members and Over 117 Million in Loan Volume

The following is a guest post by HongKong.
Before you select the types of investments you prefer, you should understand your investor type.  The following categories of investors are based on the risk tolerance and other factors like age profile, investment return time frame, your personality and how you handle risk.

The Conservative Investor – My wife is [...]

• Investments Opportunities to Make Money