Get Advertising Revenue From Prosper
I’ve been lending money on Prosper.com for nearly a year now. I’ve been getting a pretty decent rate of return, despite having had a couple of borrowers default.
I’ve also made over $200 from referrals fees! Whenever anyone signs up using the referral link and funds atleast $50, we both get $25. If a borrower signs up, I get $125.
And to add to that, Prosper is now a paid advertiser on my blog. Not only are they offering referrals rewards, but they’re also paying me to put their link up!
I guess they’ve had such success with the program that they can afford to be extremely generous. If you have a blog you can start making extra money by doing just 3 very simple things:
- Sign up using this referral link.
- Fund your account with $50 and lend it out. (ok, you don’t need to do this, but considering you get $25 almost immediately, where else are you going to get a 50% return on your money?)
- Email me at livingoffdividends$$gmail.com (replace the $$ with @) with “prosper referral advertiser” in the subject field, and I’ll put you touch with the rep at Prosper.com
Not only will you get a check from Prosper for advertising, but you’ll still get the referral rewards too!
If you don’t have a blog, you can do steps 1 and 2 and get a referral link or an image button from Prosper.com which you can put in your email signature to generate some extra money.
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October 26th, 2007 at 6:09 am
After studying Prosper’s model, they are making some serious, serious money. Ah, it’s good to be king.
October 29th, 2007 at 7:10 pm
what criteria do you use to pick out borrowers? Do you limit your exposure across several borrowers to minimize your risk from a default?
I haven’t heard from anyone lending with them for more than a year. It’s good to hear that you are having a good experience. I may look to put some money out to work for me on Prosper.
October 29th, 2007 at 9:52 pm
Most of the borrowers are D. there was some link on another blog about how D rated borrowers with zero or 1 defaults have lower defaults than A rated borrowers!
I’ve had 4 defaults out of nearly 50 loans. I look for young borrowers in college or who have just graduated college. A lot of them were ruined by bad habits but now need to fix their credit in order to get credit cards, a car or eventually a house.
I also look for borrowers who have less than 4 defaults.
My defaults came from an elderly lady with health problems, a young lady from ireland who was borrowing for her sister’s cancer operation, a middle-aged family with health problems, and some middle-aged mom who was struggling to get back on her feet.
Do you see a trend here?
October 30th, 2007 at 9:02 am
I’ve only got 6 loans out @ ~$50 per, but getting an avg. return rate of 23.79%
I usually fund people to get out from Payday loans, I know these folks are really risky, but they usually have learned their lesson (I ask questions), and the loans pretty much self-fund (who wouldn’t rather pay 20-29% than 400%?).
Recent college grads are also good.
I’ve also been going with smaller loans (under $5K) because IMO you have less chance of being burned by an identity theft cashout (for example, an A rated person willing to pay 20+% for $20K is suspect to me).
I stay away from property loans, most biz loans, and unfortunately, medical loans (I was willing to help one mother out whose child needed a timely prosthetic intervention like my own child, but the loan didn’t fund)
Live long and Prosper! wow that was cheesy…
-DaveP
October 30th, 2007 at 10:20 am
oh yes, i forgot to mention i stay away from loans over $5k, real estate loans, and business loans too.
October 30th, 2007 at 10:22 am
I also filter out the loans, so i’m only looking at loans that have funded atleast 90%.
And if I’m not 100% on the loan, i’ll bid at the current interest rate, thereby almost guaranteeing that I’m not fully funded with my $50 (so I’m also funded a portion of it, but sometimes it doesn’t work and I lose out).
November 3rd, 2007 at 5:26 am
[...] Get Advertising Revenue From Prosper posted by LIVING OFF DIVIDENDS. [...]
November 14th, 2007 at 8:17 pm
Just signed up, this awsome! Some some serious, serious money, being made here. Can’t wait for my time to say to my boss I’M RICH B—OUTCH
keep up the good work!!!
February 15th, 2008 at 6:12 am
i will definetly check this out!
September 25th, 2008 at 3:03 pm
[...] Get Advertising Revenue From Prosper I’ve been lending money on Prosper.com for nearly a year now. I’ve been getting a pretty [...]
November 21st, 2008 at 2:41 pm
The last I heard Prosper wasn’t allowing new lender accounts. Is this still the case? I’d really like to start getting into this.
November 24th, 2008 at 6:34 am
Well, I must say, my idiot state government has removed the possibility of high returns for me and all others in PA.
They have interpreted some regulation to mean that loans under $10000 have a max interest rate of 6%, therefore denying me returns and others credit.
Way to go PA…no wonder everyone moves away.
-DaveP
Pgh PA