Comments on: Prosper.com Discontinues Lending For PA Lenders

By: Eric

Eric — Wed, 21 Jul 2010 19:23:12 +0000

Nope, as a matter of fact, lending is unavailable in quite a few states after Prosper’s re-launch (including my state of Michigan)

By: Michelle

Michelle — Wed, 21 Jul 2010 16:47:16 +0000

Do you have any updates on Prosper opening back up PA? This has been way too long. I was just getting started and the rug was pulled from under my feet.

By: Investar

Investar — Mon, 06 Oct 2008 12:21:41 +0000

Actually, Marc, we Pennsylvania lenders cannot move to “the new” P2P site. Re: to my inquiry from Michael Solomon at Loanio customer support:

“… you have found is a mistake in our text that needs to be addressed … if you were to attempt to register as a Lender and you are a resident of PA, our system would not allow you as we are NOT accepting Lenders there unfortunately at this time. We will keep you updated in the progress concerning PA and Lenders.”

By: Marc Dlugos

Marc Dlugos — Tue, 23 Sep 2008 15:19:31 +0000

From the research I have done on the topic, it seems that the problem isn’t necessarily with Pennsylvania but rather with Prosper. I can’t imagine why a business such as this would turn away investors with such an ignorant cold shoulder. There is a new p2p website that will be open for business soon, and we Pennsylvanians will be able to take our money there.

By: Nathan Anderson

Nathan Anderson — Mon, 22 Sep 2008 20:45:17 +0000

South Dakota lending was discontinued as of August 22nd. I am not sure how many lenders were in SD, but I myself am disappointed. I am looking for another investment, with hopefully similar returns.

I was wondering where you found the info on the lenders, as to what state they reside. Any stats for SD? Thanks!

By: Chuck Veazey

Chuck Veazey — Sat, 20 Sep 2008 14:24:21 +0000

Only in PA do we have beuracrats that would stop this. Once again, our wonderful government taking away opportunity to gain wealth. I just joined Proper 30 days ago and have invested a small amount of money to see if this was a possible opportunity. I have concluded that the returns for the risk are excellent. I was prepared to invest 20K into Prosper this week and found out I couldn’t. I live approx 20 miles from the OH line. I wonder if there is a way to get around this….maybe put a PO Box in OH as an address…Any thoughts ???

By: Tony

Tony — Thu, 18 Sep 2008 02:57:26 +0000

I’m sorry, it’s late and my calculations were off! Let’s try again, it’s more like 0.026% of the legal-aged population.

I’m rounding to a population of 12,500,000 x 23% (over 18) = 2,875,000
760 / 2,875,000 = 0.026%

By: Tony

Tony — Thu, 18 Sep 2008 02:43:16 +0000

Eric – Thank you so much for posting on this situation.

I especially appreciate your sharing the number of Pennsylvanians that are affected by this. Considering that we probably make up only 2.5% of the investing age of the population it’s vital and means a great deal that this information is being shared and passed along.

I hope that ANY Prosper member who comes across this will sympathize with what PA Lenders are up against, and will sign our petition at http://www.ipetitions.com/petition/pa4prosperlending/index.html

You can sign anonymously and please know that every signature counts!

I hope to continue adding more information on the Pennsylvanians for Prosper Lending Blog http://pa4prosperlending.blogspot.com/

Thanks again!

By: Jon

Jon — Wed, 17 Sep 2008 14:25:00 +0000

As a PA resident and prosper member I too hope this gets sorted out. I am a small time player, but Prosper has been my best investment ever and now it is gone.