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When Will Prosper.Com Accept New Loans?

Prosper.com is one of its kind unique website that runs on the concept of providing loans by peer to peer lending. This concept involves people who wish to seek loans taking up a loan through the site from other people who are willing to lend their money at a certain interest rate.

Although the concept is novel, Prosper.com ran into problems and had stopped issuing new loans to loan seekers due to various reasons, one being the SEC wanting to check on its regulatory filing and the other being a slow rise in the number of defaulters.

This was a move that happened sometime in October 2008 and since April 2009 Prosper.com is back in business and is in the process of accepting new loans although it has significantly made alterations to the procedure being followed.