The Prosper Friends and Endorsements Feature | P2P Lending, Peer to Peer Lending, People to People Lending

Having spent a full day away from Prosper Days I have had a chance to play with some of the new features. Other than some cursory searches with the ROI tool and adjusting my standing orders for credit utilization, I invited a fellow blogger and lender (LazyMan) to be a friend. Thankfully he accepted or I would have been devastated. We promptly wrote each other truthful and glowing endorsements. Now what?

As a lender knowing a network of lenders is important, but how do I exploit my friendships to produce a better ROI. After all I am a lender for the sole primary purpose of maximizing my ROI. An ancillary outcome is that I get to help people which makes me feel good.

I suppose if I needed a loan my lender friends would step up, but I wouldn’t expect anybody to put out money at an interest rate they aren’t comfortable with…

Another possibility is to use the friendship web to get missed high quality loans funded at the last possible second such as pensioner, L5, or jannybooboo; however, as a standing order guy I don’t see myself taking the time…

So while we all ponder what benefit we derive from being friends with other lenders, please feel free to invite me to be your friend. I will not accept just anyone, but if I met you at the conference or you have nice things to say about my blog or presentation fire off a request: kevin (at) rateladder [dot] com.

The folks at Prosper might have a few tricks up their sleeve and this friendship thing might have some future benefits.

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