Prosper.com, a peer to peer lending company, announce in a press release that they had seen a significant increase in loan demand for their services during the month of November. Here’s the text of the press release:
Prosper.com the world’s largest peer-to-peer lending marketplace with over one million members and $211 million in funded loans, today released its Market Survey for November, which shows a 17% increase in loans funded on the site during the month. Heading into the New Year, Prosper also announced that it has made several important enhancements to the site, the most significant of which is the move to pre-set interest rates.
“In addition to the jump in the total number of loans on Prosper last month, we discovered another interesting trend—over the past six months there has been a sharp increase in the number of loans being used specifically for home improvement projects,” said Chris Larsen, CEO and Co-founder of Prosper. “This suggests that people may be feeling more confident in the economy and are beginning to spend on their homes again.”
“While many lenders enjoyed the auction system conceptually, we heard consistent feedback that in practice, auctions made the deployment of funds more time consuming with little gain in lender returns,” Larsen said. “We’re excited about the many improvements and hope they make your investment and borrowing experience with us even more prosperous.”
To learn more about the new pre-set interest rates and other updates, please visit Prosper.com.
