CommunityLend blog

The pace of registration with regulatory authorities for social lending companys in North America continues to heat up.  Following fast on the heels of the LendingClub announcement, Prosper have sent an email to members with this note that they are no longer accepting lender registrations, pending regulatory approvals.

Lending Club Reopens to Lenders while Prosper Shuts Lending Down | budgetcents.net

Until we complete the registration process, we will not accept new lender registrations or allow new commitments from existing lenders. If you’re an existing lender, your current lender agreements will be unaffected; your existing loans will continue to be serviced; you’ll be able to track and monitor your loans; and you’ll be able to withdraw funds from your Prosper account.

If you’re a borrower with an existing loan, you will continue with your current borrower agreement and be unaffected by the registration process. If you’re a borrower seeking a loan, you will still be able to create a new loan listing, which we will endeavor to fulfill through alternative sources.