Mike over at Prosperous Land has exposed more details of the Rapid Transfer feature on Prosper.

Here is a small excerpt:

To qualify, a lender needs at least $2500 in active loans. I have interpreted this to mean principle[sic] in active loans, but once you hit $2500, that’s splitting hairs. Once this happens, the service is automatically enabled and the lender can get the rapid transfer on any amount greater than $500 and less than 20% of the active loan amount.

This is excellent information…  Apparently, he was called by someone at Prosper called a Lending Services Manager.  Other than thanking a loyal lender lending money, any idea what a Lending Services Manager does?

Mike suggests an announcement on the forum with the details.  While I typically don’t use this feature as the amount required is over my limits, I applaud the clarification and it would be great to see Prosper solidify that clarification.

Great Stuff Mike!

Here is a link to my post on the announcement of Rapid Transfers.

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