Get A Free Loan Payment From Prosper: One Day Only (Offer)

by Silicon Valley Blogger on 2011-10-201

This offer has expired. But on occasion, Prosper revives this special promotion. We announce updates here, so keep checking this page for future developments.
Loans, Debt Consolidation,

The Prosper One Day Offer is back. Here’s a great opportunity for those looking for a loan!, the well known peer to peer lending network, has a one day special offer for those who are looking to take out a personal loan. I wish they’d extend this for longer than one day but there we have it: if you’re a borrower looking for a low cost loan, here’s your chance to snag a freebie. They are offering to pay off your second loan payment (up to a maximum of $250) for any borrower who decides to list a loan today.

Here’s how it works for the Prosper borrower:

  1. To receive the free payment, you’ll need to create and submit your loan between 12 AM and 11:59 PM PST, Friday, October 21, 2011. Here’s where to get started.
  2. The offer is valid for all loans except for the shortest term highest quality loans (the 1yr. AA loans). “AA” is the highest quality rating that Prosper gives its loans.
  3. Your loan should receive successful funding.
  4. You should not have posted a loan listing within the past 30 days.
  5. You will need to make the first loan payment.
  6. You’ll receive a credit to your account for your second payment up to the designated maximum of $250, within a month of the first loan payment.

Some things to note:

  1. Eligibility for this offer hinges on a required number of lenders funding your loan. There is no guarantee that a loan will meet funding requirements.
  2. lowered their rates recently and now charges personal loan rates that start at 6.59% APR. Prosper investors, on the other hand, enjoy net annualized returns of 10.69%.

Remember that if you’ve got good credit, you’ll be more likely to qualify for a low cost loan.

Created February 17, 2011. Updated October 20, 2011. Copyright © 2011 The Digerati Life. All Rights Reserved.

{ 1 comment… read it below or add one }

John Rowe October 21, 2011 at 8:31 am

I wish they had these promotions run longer — even a couple of days would help for anyone to review all their options prior to running a listing. But it’s a good introduction to Prosper and would get me curious about what they were about if I were a borrower.

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