Borrowing Money

Watch the bids roll in...

Once your listing is live on the Prosper marketplace, lenders will be able to visit your listing and bid on it.

When you first look at your listing on the marketplace, it's possible that it will already have some bids placed on it! These are the result of standing orders, which are special automated agents that lenders can set up to bid on listings from borrowers with certain criteria.

If you click on the number of bids, you can see the bid history for your listing, which shows the lenders who are bidding, the amounts they're bidding, and (over time) will show your interest rate dropping as more bids come in.

Bidding on Prosper is done in a Dutch auction format, which means that multiple lenders can get a piece of the same loan at varying amounts of participation. All winning lenders, however, will receive the loan at the same interest rate.