People Capital and Prosper.com Announce Referral Partnership
New York, January 11, 2010, People Capital (http://www.people2capital.com), a Web
resource for college students to obtain student loans via an online lending exchange and Prosper, America's largest peer-to-peer
lending marketplace, today announced a partnership to help borrowers seeking both educational and non-educational loans on their
respective Web sites.
According to the agreement, borrowers who are unable to obtain educational loans that meet their financing needs on Prosper.com
will be offered the opportunity to access the People Capital lending exchange. In return, People Capital will refer its borrowers,
who are interested in taking out non-educational loans, to Prosper.
"People Capital’s singular focus on student loan financing allows us to provide a range of tailored solutions for students who
are not able to benefit from Prosper’s offerings." stated Tom Shelton, CEO and founder of People Capital. "We will offer these
borrowers access to tax-efficient, long-term, as well as short-term loans, and dedicated student lending credit metrics through
our proprietary Human Capital Score. Ultimately, this agreement will insure that borrowers will find the proper fit when
investigating People Capital and Prosper’s peer-to-peer loan lending solutions.”
“The financial crisis and pervasive credit crunch have left students and their parents with a dearth of private financing options,”
said Chris Larsen, CEO and Co-founder of Prosper. “By bringing our complementary peer-to-peer lending models together, Prosper and
People Capital are poised to help bridge the financing gap for students and American consumers.”
About People Capital
People Capital (http://www.people2capital.com) was founded by a team of world-class
talent with backgrounds in student loans, consumer finance, credit ratings and new media in order to develop the next generation
of credit risk management and funding for student loans. Its lending platform allows students to finance their college educations
through improved access to private student loans. Its patent-pending Human Capital Score™
(http://www.humancapitalscore.com) measures students without credit history by using
academic and credit data to model future individual income levels, and therefore their future ability to pay off the loan.
About Prosper
Prosper is America's largest peer-to-peer lending marketplace with over 870,000 and $185 million in loans. It pioneered
peer-to-peer lending, which allows people to invest in each other in a way that is socially and financially rewarding. Prosper's
auction model provides an open and transparent way to get a personal loan or invest in loans on terms that are favorable to
everyone involved in the transaction.
People and institutions list and bid on loans using Prosper's online auction platform. Borrowers can list loan requests between
$1,000 and $25,000 on Prosper and set the maximum rate they are willing to pay an investor for the loan, and tell their story.
People and institutional investors register on Prosper as lenders, then set their minimum interest rates, and bid in increments of
$25 to $25,000 on loan listings they select. In addition to criteria commonly used by institutional lenders, such as credit
scores and histories, Prosper lenders can consider borrowers' personal stories, endorsements from friends, and community affiliations.
Once the auction ends, Prosper takes the bids with the lowest rates and combines them to facilitate the funding of one simple loan
to the borrower, and then issues what are called "Notes" to all the winning bidders. Prosper handles all on-going loan administration
tasks including loan repayment and collections on behalf of the matched borrowers and investors. Prosper members are then able to
trade Notes with other members on the Folio Investing Note Trader platform, provided by Foliofn Investments, Inc.
Notes offered by Prospectus.
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