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Prosper Group Match Rewards Cancelled in Favor of Referral Program

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.


June 6, 2007 | Filed Under Groups, Prosper.com 

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Prosper Launches Referral Program Rewards Existing Members for New Borrowers and New Lenders
Prosper Discontinues Group Payment Rewards
Email To Group Leaders After Recent Changes
Prosper Referral Program — About Time
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