I fund loans exclusively through standing orders. (At the moment very tight standing orders.) I like the options and flow of the current standing orders configuration, BUT there are 3 things that Prosper needs to add/change.

First and foremost, there needs to be a way to only bid on loans that are within X amount of time from auction closing. There is nothing more frustrating to a standing order junkie then having money tied up for 8 days or more only to have a gem of a auto funding loan show up and fund in 6 hours. Why can’t I say, “Don’t put money into a loan auction until the waning minutes or hours?” I understand the standing orders only fire every so often, but then it is my responsibility to pick a length of time that ensures my standing order having a chance to find loans.

Second, I would like to be able to reset the amount lent field of my standing order. I am planning on periodic interest rate reviews and at each review I would like to reset the amount lent in the past to 0.

Finally, I would like to be able to duplicate a standing order with one button click. I don’t want to search first; I have all of the criteria; and/or I am just going to change one or 2 options.

The second and third features I could live without, BUT the time remaining criteria for standing orders is long overdue. The only reason the feature isn’t already implemented is that prosper fears it would cause less loans to fund and higher interest rates. I don’t see the problem. Higher interest rates means more lenders, more lenders means more loans fund. Helping to improve my internal rate of return, by not leaving my money on the sideline would be a big plus.

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