November 11, 2011 09:59 ET

Prosper Supports Military Family Month With a Charitable U.S. Veterans Day Program

Program Rewards and Honors U.S. Veterans and Active Service Members

SAN FRANCISCO, CA--(Marketwire - Nov 11, 2011) -, a peer-to-peer lending marketplace for personal loans, today announced a special charitable program in honor of Military Family Month. As a part of the U.S. Veterans Day Charitable Program, all U.S. active-duty military and veterans will get their 2nd loan payment free(i) (a value of up to $250) when they get a loan through Prosper. The program runs from November 10-15, 2011.

Prosper will also donate $50 to the National Military Family Association (NMFA) for each loan that is listed as a part of this program during the promotional period and subsequently originated, up to $10,000(ii).

President Obama named November Military Family Month in 2010. In the presidential proclamation issued on November 1, 2011, he said: "During Military Family Month, we celebrate the exceptional service, strength, and sacrifice of our military families, whose commitment to our Nation goes above and beyond the call of duty."

The National Military Family Association is the leading nonprofit organization committed to strengthening and protecting the families of the men and women currently serving, retired, wounded, or fallen. For 40 years, NMFA has been providing families of the Army, Navy, Marine Corps, Air Force, Coast Guard, and Commissioned Corps of the USPHS and NOAA with information, working to get them the benefits they deserve, and offering programs that improve their lives.

Prosper Co-founder and CEO Chris Larsen explained, "We are pleased to recognize and support our troops, veterans, and their families. Their service and loyalty epitomizes all that is great about this country, and we are honored to help and support them through this program."

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About Prosper
Prosper Marketplace Inc., a peer-to-peer lending marketplace that brings together creditworthy borrowers with individual and institutional investors, allows people to invest in each other in a way that is financially and socially rewarding. Individual and institutional investors invest in minimum increments of $25 on loan listings they select. In addition to credit scores, ratings and histories, investors can consider borrowers' personal loan descriptions, endorsements from friends, and community affiliations. Prosper handles the servicing of the loan on behalf of the matched borrowers and investors. Prosper was co-founded by Chris Larsen, co-founder of E-LOAN. Prosper has raised $83.85 million in venture capital and is backed by financial and technology luminaries including, Jim Breyer of Accel Partners; Tim Draper of Draper Fisher Jurvetson; Jerome Contro of Crosslink Capital, CompuCredit; Omidyar Network; Capital One Co-founder Nigel Morris of QED Investors; Court Coursey of TomorrowVentures; Larry Cheng of Volition Capital.

Notes offered by Prospectus.

(i) To be eligible for the second month payment offer (i) the borrower cannot have posted a loan listing on within the past 30 days; (ii) the borrower must submit a loan listing before 11:59 pm PT on November 15, 2011, that loan listing must result in an originated loan, (iii) the borrower's first payment must be received by its due date, and (iv) the borrower must present a valid U.S. military ID for verification. If the borrower meets these criteria, Prosper will credit the second required loan payment up to $250 prior to the due date of the second payment. This promotion cannot be combined with any other promotional offer from Prosper. Eligibility for a loan is not guaranteed and requires that a sufficient number of investors commit to fund the borrower's loan. Refer to Borrower Registration Agreement for all terms and conditions. All loans are made by WebBank, a Utah-chartered Industrial Bank.

(ii) Prosper will donate $50 to the National Military Family Association for each loan that is listed between 12:01 am PT on November 10, 2011 and 11:59 pm PT on November 15, 2011 (the "promotional period"), if such loan listing results in an originated loan. Prosper will donate up to $10,000 to the NMFA.

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