For all of you die hard Prosper lending fans out there, this article will help you better understand some of the recent changes you’ve seen with your lending options.

Perhaps like you, I didn’t have the time of day to search through the thousands of borrower listings that had the potential to be lent to. For about a year, I had used the standing order option to basically automate all the lending and bid on behalf of my own personal lending constraints. This was a great way to continually find the best deals – even while I was asleep at night. Every month, money would come into my account in the form of principal and interest payments, and then the standing order would re-lend everything out again. It was a great cycle of wealth just sitting on autopilot.

Then one day – poof! My standing order option was gone. Maybe I missed the memo, who knows. But what on earth had happened to the standing order? Well, I got in touch with my contact over at Prosper HQ and found the answers I was looking for.

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What was a desperate situation turned out to be even better than I imagined…

I was told that the standing order function was basically rolled right into their Portfolio Plan option. It’s a simple tool that allows you to build your own lending plan (similar to a typical standing order). Or, you can choose to have Prosper build a portfolio for you based on your risk tolerance.

Either way, the added functionality will and has already begun to empower Prosper members like never before. In my next post, I’ll be going into great detail as to how you can set up some of the best portfolio plans and discover your true rate of return.

Stephen Oakes