As any serious Prosper lender will tell you, Groups don’t make make much sense for lenders.   What is the benefit? Sure I have a group and sure my group (all lenders) get benefits (such as early looks at analysis I am working on), but in general why would a lender want to be a member of a group?  Why would a lender want to receive less interest when the borrower pays a GL payment reward? And to top it all off, most Group Leaders (myself included) were poaching existing members.  So Prosper paid to acquire the members and then paid again when a GL poached a borrower and got there loan funded…

Borrower’s let my give you some free advice.  If you want to get your listing funded click here, join Prosper, and make a listing following my suggestions.  The key to getting funded is to tell you story and income and expenses, use a picture/url, and use a VERY competitive starting interest rate (high).

BUT THE BEST PART of the referral program is the $25 New Lender Bonus.

Related posts:

• Prosper Launches Referral Program Rewards Existing Members for New Borrowers and New Lenders Prosper.com just launched a referral program rewarding existing members for referring new borrowers and new lenders.  New lenders are also rewarded for being referred with a $25...
• Prosper Group RateLadder Update  Prosper Group RateLadder. I would to thank the members of my group for their support… As I could have guessed most of my readers and...
• Why Would a Borrower Join a Group? (Prosper Group Analysis Part 1) Seems to me that there are 2 good reasons for a borrower to join a group: better funding percentage and/or reduced interest rate.  I think...
• Why Would a Lender Want to Join a Group? — Prosper Group Analysis Part 2 Previously I posed several questions on prosper groups.  Here is the second installment of answers.  Why would a lender join a group?  I think that...
• Two Millionaires Keep 5 Star Group Rating with Community Payments Groups on Prosper are in theory meant to help borrowers through education and lenders through lower default rates.  I have explored these aspects of groups...

If you liked this article, vote for it on del.icio.us and stumbleupon.


Categories:

Groups, Prosper.com

Tags:

azerbaijan, mozambique