RateLadder was in attendance at Prosper Nights SF this evening. In addition to meeting many great lenders, RateLadder obtained a scoop. Made public here and only here (until it is released tomorrow to the newswire.)

Prosper The leading P2P lending marketplace receives an additional 20MM in capital.

“We weren’t looking to raise money, but it is a good market to raise funds right now.”

No mention of the participants (edit: Series C Financing led by DAG Ventures and Meritech Capital Partners), but word is it was a “favorable valuation.”

Comments were by Prosper CEO Chris Larsen during a Q&A session. I didn’t want to quote until after the press release…

• Prosper’s 20MM Series C Venture Capital Details (press release)

• Best of RateLadder 2nd Quarter 2007

• New Loan Funded — home renovations — $25,000 at 19.5% — B Credit — DTI 46%

• Zing Funding to Launch?

• Lending Club Liquidity and Capital Resources

• Evening Bags Handbags

• Evening Womens Shoes

• Public Timetables Paper Railroadiana, Trains Transportation Collectibles

• UK Great Britain Europe Coins World Coins Paper Money

• 1 2 Crown UK Great Britain Europe Coins World Coins Paper Money

Now you can display your Listing on your MySpace Page. Or your blog, or website… The possibilities are endless.

Here is a random listing on Prosper.

$25 Bonus For New Lenders
How to Use Prosper Listing Widget for MySpace, Blog, Website, or Other

Here is a link to my MySpace page… This page shows the listing in the interests section…
RateLadder on MySpace

It is very easy to use… there are 3 options. width, height, and the listing number…
Here is the code for a blog: listing #151656 with a height of 338 pixels and a width of 400 pixels.

<center>
<iframe src="http://rateladder.com/ProsperListing.swf?listing=151656&referrer=RateLadder_com" height=338 width=400>
</iframe>
<a href="http://www.prosper.com/lend/listing.aspx?listingID=151656&referrer=RateLadder_com"><img src="http://rateladder.com/images/BidNow.gif" border="0" /></a>
<a href="http://www.prosper.com/referrals/lender.aspx?referrer=RateLadder_com&utm_source=referrer-RateLadder_com&utm_medium=referral-link&utm_content=link&utm_campaign=referrals-lender"><font size="-3">$25 Bonus For New Lenders</font></a>
<a href="http://www.rateladder.com/2007/06/17/display-your-prosper-listing-on-your-myspace-page/"><font size="-5">How to Use Prosper Listing Widget for MySpace, Blog, Website, or Other</font></a>
</center>


Here is the code for Myspace: listing #151656 with a height of 338 pixels and a width of 400 pixels.

<object type="application/x-shockwave-flash" allowScriptAccess="never" allowNetworking="all" height="338px" width="400px" align="middle" data="http://rateladder.com/ProsperListing.swf">
<param name="allowScriptAccess" value="never" />
<param name="allowNetworking" value="all" />
<param name="movie" value="http://rateladder.com/ProsperListing.swf" />
<param name="quality" value="high" />
<param name="menu" value="false" />
<param name="wmode" value="transparent" />
<param name="scale" value="noScale" />
<param name="flashvars" value="listing=151656&referrer=RateLadder_com" />
</object>
<a href="http://www.prosper.com/lend/listing.aspx?listingID=151656&referrer=RateLadder_com"><img src="http://rateladder.com/images/BidNow.gif" border="0" /></a>
<br>
<a href="http://www.prosper.com/referrals/lender.aspx?referrer=RateLadder_com&utm_source=referrer-RateLadder_com&utm_medium=referral-link&utm_content=link&utm_campaign=referrals-lender"><font size="-3">$25 Bonus For New Lenders</font></a>
<br>
<a href="http://www.rateladder.com/2007/06/17/display-your-prosper-listing-on-your-myspace-page/"><font size="-5">How to Use Prosper Listing Widget for MySpace, Blog, Website, or Other</font></a>

If you would like me to email you the code to put your listing on your myspace page please send me an email to kevin at proprosper dot com and tell me your listing number.

• ReList: EP: Paying Off High Rate Loans

• Everyday People Listing Update — EP: Paying Off High Rate Loans

• RateLadder Loan Lisitng Auction Closes Today

• Now That I Have Bid You Should Too (if you want to)

• Update: Everyday People — Shining Example of Prosper Group

• Display Cases Autographs-Original Sports Collectibles

• Storage, Display Supplies Cards Sports Collectibles

• Display Units, Towers Humidors Cigar Tobacciana Collectibles

• Display Specimens Mineral Specimens Rocks, Fossils, Minerals Collectibles

Prosper’s new referral program is great.  Not only do you earn $$$ for referring people, but if could also win a trip for 2 to Vegas. 

I have 4 borrowers (3 with listings) and 2 lenders (both with bids) and 10 others without a role yet.  I am in the top 10. Wow! I thought there would be big guns of the affiliate world coming after this program.  $25 per lender and .5% of loan amounts adds up to a lot of money. It is even a deep linking referral program so get the referral no matter what Prosper page your send the links to.

Here is the email that was sent…

• Revolutionary Blog Contest

• Top RateLadder Referrers of My 1st Year

• Top RateLadder Referrers

• RateLadder Top Referrers

• Top RateLadder Referrers Aug07

• People Postcards Collectibles

• Program Materials, Accessories Weight Management

• People Figurines Decorative Collectibles Collectibles

• People Real Photo Postcards Collectibles

• Famous People Topical Specialty Stamps

Just a quick followup to the Prosper referral tracking with ProProsper. 

Here is the email sent to me this morning detailing my active listings…

Referral bepmike48
Listing: Guarenteed Money for Simple loan Amt=5000.0000(25.00) CG=A DTI=0.09 Open For Duration Lender Rate=0.0625

Referral bigdog1
Listing: deck and bills pay down Amt=13000.0000(65.00) CG=E DTI=0.21 Close When Funded Lender Rate=0.22

Referral ltanner97
Listing: Debt Consolidation Amt=20000.0000(100.00) CG=C DTI=0.48 Close When Funded Lender Rate=0.2425

Also the grid of your Referrals in ProProsper now has the following columns: Screen Name, Roles, Bid Count, Bid Amount, Lender Loan, Principal Loaned, Lender Referral Fee, Listings, Borrower Loan, Loan Amount, and Borrower Referral Fee.

• Track your Prosper Referrals with ProProsper

• Huge Prosper Borrower Success Story (Followup)

• Referral Program Strategies

• WSJ Features ProProsper in P2P Lending Article

• 3rd Standard Deviation Loans From Prosper

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

• Open Salts Tableware Housewares Kitchenware Collectibles

• Pontoon Deck Boats Powerboats Motorboats Boats

• A Simple Plan A Rock, Pop Music Memorabilia Entertainment Memorabilia

• Track Lighting Lighting Fixtures Home Lighting

Retireme99 has developed and maintains a Internet Explorer plugin for Prosper.  I first started using in Feb 07.  Being a standing order bidder at first I was sceptical that it would be useful for me…  Well, anytime I use Firefox with Prosper I miss the plugin.  I don’t even realize some of my favorite things are this plugin and not Prosper. 

I am never really sure which of the 2 sites you are supposed to go to get it so here is a link to both: Prosper Internet Explorer Plugin Site 1 or Prosper Internet Explorer Plugin Site 2.

Here are some of my favorite features:

• Favorites List by Borrower - if a borrower relists you will easily find the new listing
• Similar Loans -  finds loans that are late that are similar to the listing you are reviewing
• group performance
• Bid Details - if I find a listing that has under a 100 bids that raises red flags… I like market demand for a listing
• hot lists… finds the listings that have the most action over a time period
• Quick Market Analysis Links
• Notes - in case I don’t remember why I don’t like a listing or do

If you are a manual bidder this plugin is a must have.  If you use standing orders then you can get along without the plugin… but why?

My apologizes to Retireme99, this review was a long time coming.

• Late Loan #2 is Late Again (2nd month in a row.)

• Too Many New Loans Not Enough Time For Review Posts

• $350 dollars makes its way into play

• Late Loan #2, in the Process of Paying

• Another Winning Bid

• Extension Cords Electrical Solar Home Improvement

• Standing Liberty 1916-30 Quarters Coins US Coins Paper Money

ProProsper has added a Prosper referral tracking feature.

The basic idea is that when you get a referral you get an email with that person’s screenname.  You enter that screenname in your ProProsper User area appropriately named Referrals.

Once added to ProProsper you can quickly reference that members prosper member page (which has their role and any listing they might have).

In addition, on the loading of data every morning you will receive an email with any active listings by any of your referrals.

I am sure there will be some great ideas from the community on how to take this farther, but I felt this is a required first step…

Enjoy and please comment.

• Track Prosper Referrals with ProProsper Followup

• Referral Program Strategies

• WSJ Features ProProsper in P2P Lending Article

• Huge Prosper Borrower Success Story (Followup)

• 3rd Standard Deviation Loans From Prosper

• Germany Area Europe Stamps

• Italy Area Europe Stamps

• Russia Area Europe Stamps

• Track Lighting Lighting Fixtures Home Lighting

• Cast Member Exclusives Contemporary 1968-Now Disneyana Collectibles

Update: This listing has been withdrawn and relisted as an autofund  at 24.25% and is still missing a picture…  I think the 1st listing was better, but this one is still worth a bid.

Active Listing: Debt Consolidation

Original Listing: Debt Consolidation

I have bid (only bid if you want to do so).

A gem.  CLEAN C. 49% DTI. High Rate: 29%.

Purpose of loan:
I want to pay off several high-interest credit cards so I can to try to buy a home in the next 6-12 months.

My financial situation:
My payment history is very good, but due to increased expenses the last 4 months, I’m starting to struggle.  Making one loan payment instead of several credit card payments each month will be a great help in staying on top of things.  My expenses went up because my younger brother came home from the Army and is living with me until he goes to college in January.  When he moves out I plan to move to a smaller, cheaper apartment. 

I have a very secure job and am trying to live as simply as I can:  no cable, no home phone, no internet service, no new clothes, etc.

Monthly net income: $2760.00

Monthly expenses: $
  Housing: $1295.00
  Insurance: $85.00
  Car expenses: Loan = $275.00 Gasoline, etc. = $175.00
  Utilities: $30.00
  Phone, cable, internet: $0.00
  Food, entertainment: $375.00
  Clothing, household expenses $75.00
  Credit cards and other loans: $1060.00
  Other expenses: $90.00

This listing only has one problem: No picture.  It should make it to 100% funded anyway becasue it is so clean.

Comments? 

If you are interested in having your listing featured on RateLadder there are 2 ways to make this happen.  You can chose to do both, but only one is necessary for receiving a listing review.

1. Register with Prosper as a RateLadder Referee by clicking the link.
2. Join my group RateLadder — Borrowers Climb Down the Interest Rate Ladder

I cannot write about the extended credit of these listings as that data is protected by the Prosper Terms of Service.  If you are a lender then I encourage you to log in and look for yourself, but if you leave a comment please don’t talk specifically about the extended credit.  If you are not a registered user of Prosper and would like to be a lender I have a referral that will get you a $25 bonus when you make your first loan (click the link).

• Programmer and Blogger Seeks Debt Consolidation Loan

• Everyday People Listing Update — EP: Paying Off High Rate Loans

• Borrow Money on Prosper — Case for Unsecured Debt via Personal Loans

• Track Prosper Referrals with ProProsper Followup

• Carnival of P2P Lending #3

• Clean Romance Books

• Clean Romance Audio Books

• Picture Frames Cat-Domestic Animals Collectibles

• Picture Frames Horse Animals Collectibles

• Picture Frames Decorative Arts Antiques

deck and bills pay down

This is an example of what not to do if you are an E.  First of all, an E credit borrower does not have good credit and so you are already swimming upstream so to speak.

The borrower is a homeowner and a 21% DTI so they have that going for them.

Purpose of loan: I PLAN TO PAY SOME BILLS OFF AND FINISH A DECK FOR HOME IMPROVEMENTS
(explain what you will be using this loan for)

My financial situation: I AM A GOOD CANDIDATE FOR PAYING THE LOAN BACK BECAUSE I MAKE THE MONEY AND I AM TRYING TO GET MY CREDIT BACK UP IN THE HIGH 790 AGAIN
(explain why you are a good candidate for paying back this loan)

Monthly net income: $ 6200

Monthly expenses: $
  Housing: $ 1248+352=1600
urance: $ 76.00
expenses: $ 150.00
ities: $ 250
hone, cable, internet: $ 100
od, entertainment: $ 100
lothing, household expenses $ 100
redit cards and other loans: $ 50
Other expenses: $

Here are 6 problems with the listing. 

1. Misspellings in description 
2. No picture
3. Autofund
4. Low rate for E
5. Does not explain extended credit.  With extended credit like this it is best to be brutally honest.  At least then, lenders are made aware that you are cognizant of the past problems and trying to fix them.
6. High amount request.  E and HR borrower have a hard time borrowing more than a few thousand dollars on Prosper.

 I sent the borrower the following message through the Prosper message system.

Welcome to Prosper.

Not sure if you realize or not but I referred you to Prosper.

I noticed that you have created a listing.  You are doing fine so far, but given your credit it is imperative to create a great listing. I would like to help you get a loan on Prosper.

I write a Prosper Lender Blog (http://rateladder.com/) and run the statistics site ProProsper (http://www.proprosper.com).i/ have written a small tutorial for creating a great listing.  While the tutorial is on my group page, please don’t bother to join a group as it is not needed.

Just looking at your listing you did a couple of things that are easy to fix and make a big difference.

Here is a link to my listing tips… Just the listing tips.
http://www.rateladder.com/group-rateladder-membership-and-listing-requirements/

If your listing is a good example I plan on using my blog to market your listings to my readers.  I think this will further increase your chance of funding.

If you have any questions please don’t hesitate to ask… kevin at proprosper dot com

Comments? 

If you are interested in having your listing featured on RateLadder there are 2 ways to make this happen.  You can chose to do both, but only one is necessary for receiving a listing review.

1. Register with Prosper as a RateLadder Referee by clicking the link.
2. Join my group RateLadder — Borrowers Climb Down the Interest Rate Ladder

I cannot write about the extended credit of these listings as that data is protected by the Prosper Terms of Service.  If you are a lender then I encourage you to log in and look for yourself, but if you leave a comment please don’t talk specifically about the extended credit.  If you are not a registered user of Prosper and would like to be a lender I have a referral that will get you a $25 bonus when you make your first loan (click the link).

• Track Prosper Referrals with ProProsper Followup

• RateLadder Referral Listing Intro

• Attempt to push EP Referral Listing into Existance Failed

• Prosper Group Match Rewards Cancelled in Favor of Referral Program

• Everyday People Listing Update — EP: Paying Off High Rate Loans

• Credit, Charge Cards Trading Cards Collectibles

• Pontoon Deck Boats Powerboats Motorboats Boats

• Buffalo Bills Football-NFL Fan Apparel Souvenirs Sports Collectibles

• Bobbleheads Buffalo Bills Football-NFL Fan Apparel Souvenirs Sports Collectibles

• Helmets Buffalo Bills Football-NFL Fan Apparel Souvenirs Sports Collectibles

Guarenteed Money for Simple loan

This is the cleanest A I have ever seen. I am a little surprised that it is not a AA.

Account Verified, DTI 9%, A Credit. CLEAN!

Purpose of loan: Supplement stock porfolio for more diversified lending
(explain what you will be using this loan for)

My financial situation: Have a decent sized stock porfolio in non-risky funds, just got promoted to engineer 3 at a fortune 100 company in semiconductor industry and have never been late with a payment.. Still a little angry my credit rating is only A, for my score on another bureau is 760=AA…  This opportunity is for those people that want 0 risk, but higher than money market return
(explain why you are a good candidate for paying back this loan)

Monthly net income: $ 7000 (6400 monthly, about 10% bonus yearly)

Monthly expenses: $ 1300
  Housing: $ 700 (apartment, no mortgage)
  Insurance: $ 100    
  Car expenses: $ 200
  Utilities: $ 60 (just electricity)
  Phone, cable, internet: $ 50
  Food, entertainment: $ 100
  Clothing, household expenses $
  Credit cards and other loans: $ 90
  Other expenses: $
 

This listings has 2 problems.

1. The starting rate is way too low.  It is possbile that the listing might end at that rate (not likely), but it will never reach 100% funded at that starting rate.
2. There is no picture. A picture, any picture is required to make the featured listings page of the Prosper website.  Always use a picture.
3. I know I said 2 problems, but a potential third is that perhaps the monthly expenses are being underestimated.

I sent this borrower a message through the Prosper message system. Here is the message…

Welcome to Prosper.

Not sure if you realize or not but I referred you to Prosper.

I noticed that you have created a listing.  Your credit looks great and I would like to bid on your listing. However, I think you rate is a little low.  Maybe not for the final rate, but for the starting rate.  At Prosper once a loan becomes fully funded lenders start to bid down the interest rate.  It is important to start high enough to receive interest from lenders.  The key to a low ending rate is a high enough starting rate.

I write a Prosper Lender Blog (http://rateladder.com/) and run the statistics site ProProsper (http://www.proprosper.com/).

I have written a small tutorial for creating a great listing.  While the tutorial is on my group page, please don’t bother to join a group as it is not needed, especially with credit as stellar as yours.

Also, given your great credit I think you can use my AA starting rate suggestions and get to 100% funded without any trouble.

One other minor detail is that you should put a picture on your listing so that your listing is eligible for the featured listings section of the Prosper website which further helps in attracting lenders.

Just the listing tips.
http://www.rateladder.com/group-rateladder-membership-and-listing-requirements/

Please let me know if you relist as I would like to bid.

Also if your listing is a good example I plan on using my blog to market your listings to my readers.  I think this will further reduce your rate.

If you have any questions please don’t hesitate to ask… kevin at proprosper dot com

Comments? 

If you are interested in having your listing featured on RateLadder there are 2 ways to make this happen.  You can chose to do both, but only one is necessary for receiving a listing review.

1. Register with Prosper as a RateLadder Referee by clicking the link.
2. Join my group RateLadder — Borrowers Climb Down the Interest Rate Ladder

I cannot write about the extended credit of these listings as that data is protected by the Prosper Terms of Service.  If you are a lender then I encourage you to log in and look for yourself, but if you leave a comment please don’t talk specifically about the extended credit.  If you are not a registered user of Prosper and would like to be a lender I have a referral that will get you a $25 bonus when you make your first loan (click the link).

• Track Prosper Referrals with ProProsper Followup

• Prosper Referral Program — About Time

• RateLadder Referral Listing Intro

• Attempt to push EP Referral Listing into Existance Failed

• Prosper Group Match Rewards Cancelled in Favor of Referral Program

• A Simple Plan A Rock, Pop Music Memorabilia Entertainment Memorabilia

• Stock Certificates, Bonds Paper Railroadiana, Trains Transportation Collectibles

• Clean Romance Books

• Credit, Charge Cards Trading Cards Collectibles

• Clean Romance Audio Books

Welcome to a brand new feature!!!!  RateLadder Referral Listing Review.

With the introduction of the referral program I have been source of a few registrations, some of which have turned into listings.  RateLadder will be reviewing the best of these listings.  Today being the first installment of this feature I thought I would review the listing with the best current chance of getting funded and talk about the other 2 listings and why they might come up short.

If you are interested in having your listing featured on RateLadder there are 2 ways to make this happen.  You can chose to do both, but only one is necessary for receiving a listing review.

1. Register with Prosper as a RateLadder Referee by clicking the link.
2. Join my group RateLadder — Borrowers Climb Down the Interest Rate Ladder

I will start with the 2 listings that need to make some changes and end with an exciting listing at a great rate.  As I was the referrer and not the group leader I had no control over the content of the listings.

I cannot write about the extended credit of these listings as that data is protected by the Prosper Terms of Service.  If you are a lender then I encourage you to log in and look for yourself, but if you leave a comment please don’t talk specifically about the extended credit.  If you are not a registered user of Prosper and would like to be a lender I have a referral that will get you a $25 bonus when you make your first loan (click the link).

• Attempt to push EP Referral Listing into Existance Failed

• Prosper Group Match Rewards Cancelled in Favor of Referral Program

• Everyday People Listing Update — EP: Paying Off High Rate Loans

• Track your Prosper Referrals with ProProsper

• Prosper Referral Program — About Time

• Today American Girl By Brand, Company, Character Dolls Dolls Bears

• Program Materials, Accessories Weight Management

• Apollo Program Space Programs Historical Memorabilia Collectibles

• Space Shuttle Program Space Programs Historical Memorabilia Collectibles

• By Brand, Company, Character Dolls Dolls Bears