The Bankwatch

Tracking the consumer evolution of financial services

Prosper issues their revised S-1/A – December 5th, 2008

Prosper Marketplace Inc. have issued their new S-1/A seeking approval from the SEC.

S-1/A

At first glance it is similar to the first one, but includes a primary (loans originated on Prosper) and a secondary market (lenders seeking liquidity of earlier investments)

We will issue the Notes in series. Each series will correspond to a single consumer loan originated through our person-to-person online credit auction platform or a previously-funded single consumer loan offered for sale on our platform by one of our financial institution members. In this prospectus, we refer to these consumer loans generally as “borrower loans” and we refer to previously-funded consumer loans listed on our platform by one of our financial institution members as “previously-funded loans.” We refer to the borrower loan upon which a series of Notes is dependent for payment as the “corresponding borrower loan” for the series.

Written by Colin Henderson

December 5, 2008 at 16:59

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