P2P lender Prosper is back and better than ever


After a nine-month hiatus, peer-to-peer lender Prosper.com is back with a new and improved lending service. Thanks to its recent SEC registration the improved Prosper.com is now available to borrowers in 46 states and lenders in 14, with plans to expand nationwide in the near future.

For the uninitiated, Peer to Peer Lending (P2P) is a service that connects individuals with money to those in need of a loan without using a bank. This type of lending is very popular amongst individuals looking to consolidate their debt or start a small business with these segments making up almost 70% of the loans funded before Prosper began its SEC process.