Thank you for stopping by to comment. Now that we see what has happened to Prosper Marketplace, it is clear that you received excellent legal counsel. Besides, why would you want to bother with “consumer” lenders who will likely complain on the internet when loans go bad?

When I wrote this, I was disappointed to see GlobeFunder promoted as Peer-to-Peer lending in the news and lined up with Prosper, Lending Club, and Zopa because that is not what it really seems to be based upon the guidelines set on your site. However, that is likely not your fault and you specifically said in your note that you are “unique proposition against… competitors like prosper.com and lendingclub.com”

Best of luck to you and GlobeFunder. I hope your business model works. If you find that you can expand beyond hedge-fund lenders, let me know. I will be very interested.

Given the recent turmoil in P2P lending on the regulatory front, with the SEC’s actions across the industry notably apparent this week as well, you may now see why we never launched our P2P lending platform. Our legal research suggested these events could occur, and that it was prudent to pursue alternative business opportunities to help borrowers and lenders lower costs and achieve better loan opportunities. Also, we will soon be launching lending in all fifty states. We apologize to your blog commenters that they were unable to apply for a loan at this time because we are not approved for lending in their state. This will be corrected soon. We also have raised private accredited investor capital to assist with loan funding opportunities on our platform, so that we can be of service to more and more borrowers in search of loans at this time.

The GlobeFunder executive team has over 60 years of “hands on” experience in the development and origination of high quality portfolios of consumer, light-commercial and commercial financing transactions. We have established “Channel Partner” relationships, via nationally-known O.E.M. manufacturers, “sponsored” loan programs and loan/retail distribution networks that generate a constant flow of high quality consumer, light-commercial and commercial financing transaction opportunities (direct loans, retail installment contract and leasing).

In today’s market, we provide borrowers with an alternative source of loan funding at better rates, when and where they need loan funding. Please continue to provide us feedback and we look forward to being of service to you now and in the future. Thank you.
-Brian Mullally, CEO, GlobeFunder.