Prosper (prosper) is the first P2P lending platform in the United States when it launched in 2006. It allows you to invest a various range of personal loans. Investors can invest based on different risk ratings or let the platform invest for you using the auto-invest tool.
Listed below are the reasons for investing in Prosper:
- requires a minimum deposit of $25 (non-accredited investors)
- earns an average 5.1% returns for Prosper loans.
- provides info regarding the seven loan grades called Prosper Ratings: AA, A, B, C, D, E and HR where AA is the lowest risk to HR which is the highest risk.
- provides info regarding Prosper Score ranging from 1 to 11.
- offers 3 or 5 year investment terms. For 3-year term, rates start at 5.99% for AA loan to 31.72% for HR loan.
- provides very detailed borrower loan profile.
- provides good search filters which allow investors to find loans that meet their exact criteria.
- provides a borrower previous Prosper loan history.
To summarize, Prosper is the most popular and the best peer to peer lending platform for investors.