back up for bidding (sort of)!

I got an email from and it looks like that they have gotten approval from the SEC to resume business. I am happy as I can start reinvesting my money into more notes and earn a potentially higher return.

I must reiterate that prosper investing is not for everyone. You need to be skilled in financial analysis and lending. It is great as a small hobby or alternative asset to stocks but should not be a major portion of your savings.

They have made many changes for the better including:

  • $25 minimum bid versus the old $50 minimum
  • You can see the borrower's credit score range and Prosper's rating
  • You see the actual yield after Prosper takes their cut of the interest
  • Many website enhancements over the old one (too many to list!)
Now that lending and borrowing has resumed I will start giving monthly updates on how I am doing. Here is a stat shot of how I am doing as of today:

Outstanding Loans: 40
Late: 1 (< 15 days)
Current: 39
Charged Off: 1
Paid Off: 3

Open Bids: 1 ($25)

Total currently invested: $1543.62 (Principal Value)