Hi All,

Just wanted to update our readers on our recent activity with prosper.com. As many of you know, we were consider putting $70,000 into the service, but decided against it. However, since many bloggers have money in prosper I wanted to write briefly and give you an update.

1) We are still active lenders in the service, and have about $3,500 in the company’s system. This is in a combination of both bids and active loans, all have an interest rate of approximately 19%.

2) Financial information regarding the company’s growth in assets under management or current numbers of borrowers has NOT been forthcoming. This is key to finding out if prosper will still be in business long enough for our loans to mature. I suspect the company has this, but may be reluctant to release it publicly for several good reasons.

3) Finally, if would be great if they advertised a bit more. For example, prosper is popular in the personal finance blog sphere, but its not clear if the borrowing public is aware of the service. From the standpoint of a lender, I’d like more borrowers to help manage my lending risk.

Thanks all and have a great Tuesday!

Best,

James

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