Free Updates

Exclusive content to your inbox for FREE!

Get a $1,000 Bonus with a New Prosper Premier Account

by Peter Renton on September 6, 2012

Prosper Premier p2p lending investment account

I first wrote about Prosper’s Premier service back when it was introduced earlier this year. At the time I said it was a good move by Prosper because there are many investors who like the potential returns offered by p2p lending but don’t want to go to the trouble of selecting loans themselves.

If you are this kind of investor and you have been considering Prosper then there has never been a better time to start investing. Prosper is offering a $1,000 bonus to the first 25 SLN readers who sign up for Premier and invest at least $25,000. All the details are below.

How Prosper Premier Works

Before we get into the details of this bonus let’s first take another look at the Premier service. Prosper bills it as “the fastest, most convenient way to earn great returns”. You choose a couple of parameters including your level of risk and Prosper manages your investment for you.

Here are the steps needed to open a Premier account:

  1. Download the Order Form from Prosper’s website.
  2. Choose a target allocation based on the different loan grades from AA down to HR.
  3. Allocate a percentage to different loan terms (1, 3 and 5-year) or just select all loan terms.
  4. Choose the maximum dollar amount to invest per loan.
  5. Decide whether to reinvest payments or not.
  6. Fill out funding instructions.

Before your money is invested you will speak with one of Prosper’s investment analysts who will confirm your instructions. If want to add a specific filter, such as number of inquiries, repeat borrowers only or no delinquencies to name a few possibilities, then you can add them when you talk with the analyst.

Once your criteria are all set your selections will run every time new loans are added to the platform. In reality your investments are batched with the Automatic Quick Invest orders and run with them. You will receive an email confirmation whenever your money has been invested.

How to Get Your $1,000 Bonus

This bonus is only available to readers and subscribers of this blog. Prosper contacted me a couple of weeks ago and wanted to run a special promotion just for the readers here. So, in order to get your $1,000 this is what you have to do. Fill out the order form and then call the Premier number at 1-877-611-8797. You should be connected to Austin Bryant or Cameron Fleischer. When you speak with one of them mention you saw this offer on the Social Lending Network blog and you should get your $1,000 bonus, as long as you are one of the first 25 people.

Of course, there are some conditions:

  1. You need to invest a minimum of $25,000.
  2. You need to keep your account as a Premier account. You cannot open a Premier account and then switch it back to a self-managed account.
  3. If you are an existing Prosper investor you need to transfer in an additional $25,000 and convert to a Premier account.
  4.  Prosper cannot provide investment advice – you make all the decisions on the application form.

I get no kickback from this offer; I am sharing this because I believe it is an excellent deal for investors.

Before making any investment you should read our disclaimer section as well as the Prosper prospectus. You should also consult with a financial professional to ensure this investment is appropriate for your financial situation.

Like what you read?
Then please join over 1,000 people who receive exclusive weekly p2p lending tips, and get a FREE COPY of my ebook, Understanding Peer to Peer Lending. Just enter your name and email below:

{ 17 comments… read them below or add one }

Larry Ventura September 6, 2012 at 3:53 pm

What is the minimum investment amount for a new Prosper investor to get the bonus?


Dan B September 6, 2012 at 5:38 pm

$25k Larry


Peter Renton September 7, 2012 at 5:44 am

Larry, I made a mistake not spelling that out. Yes, the minimum is $25K and I have updated the post to reflect that.


Dan B September 6, 2012 at 10:11 pm

Just so that things are clear for everyone, how long would you have to keep the account as a Premier acct. before you could……………for instance close the account? 3 years?
So if you keep the account open, it would have to remain a Premier account in perpetuity?


Peter Renton September 7, 2012 at 6:06 am

Dan, Not sure on the rules for that but I will get an answer for you.


Dan B September 7, 2012 at 12:17 pm

The answers are for your the benefit of your readers because it’s important that everyone understands the fine print……………so there’s no chance of future confusion.


Peter Renton September 7, 2012 at 4:45 pm

The answer is that you must keep the account as a Premier account for the first 12 months.


Terry September 7, 2012 at 6:03 am

I’ve worked with Cameron Fleischer a fair amount in setting up both my Prosper IRA and my wife’s Prosper IRA. Cameron even helped me get in touch with the VP of IT at Prosper (Ron Pugh) as I’m working on developing… even though it kind of competes with their Premier service.

They have an Incredibly professional and helpful team.


Peter Renton September 7, 2012 at 6:10 am

Terry, In no way do I think your Number Whale service will compete with Prosper. And I don’t even think it will cause the people who want Premier to change to a regular account. People who go to the trouble of using your service will most likely want to invest themselves. Prosper are supporting it because with Lendstats still down for Prosper investors there is no alternative for analysis. For this reason I am also looking forward to the launch of your site.


Terry September 7, 2012 at 6:21 am

Peter, I certainly can’t argue with your thoughts there. Our list of pre-registered users is growing (in a large part thanks to your including us your weekly round-up). We’re aiming for an early October Go Live, so keep your fingers crossed. But to not further distract from your Prosper Premier promotion, best of luck to you and Prosper!


Peter Renton September 7, 2012 at 9:57 am

Glad to help. Looking forward to seeing what you have created.


Carl September 7, 2012 at 6:58 am

Peter, Are there any other current Prosper investor bonuses in play? Do these types of things come up very often? Where do we read about these. Thanks


Peter Renton September 7, 2012 at 9:54 am

These types of bonuses only come up occasionally these days and this is the best one I have seen in a long time which is why I decided to feature it.


Mia September 7, 2012 at 8:57 am

Peter, I looked at the form and it says it is for existing Prosper members only and requires you to sign a statement to that effect. I get the impression from your blog that the offer is open to new members as well. Is that correct?


Mia September 7, 2012 at 9:39 am

I notice they charge a .8% fee off the top, so the bonus would actually be $800 on a $25K investment.


Peter Renton September 7, 2012 at 9:55 am

Mia, The existing member part is just a formality. It means you have to sign up for an account before you can open a Premier Account. Call Prosper and they can talk you through it.

The 0.8% is waived for the time being so the bonus is a full $1,000.


Mia September 7, 2012 at 3:00 pm

Thank you for the clarification.


Leave a Comment

Notify me of followup comments via e-mail. You can also subscribe without commenting.

Previous post:

Next post:

Google Analytics Alternative