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Rewards
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There were 9 questions found in this category:
 Do I have to pay taxes on the money I make at Prosper?
Your income from group leader rewards is of a type that is normally classified as taxable income. Every tax year that you earn more than $600 in rewards, Prosper will send you a 1099 form summarizing your taxable income earnings. Lenders also have to pay taxes on their interest income at Prosper ...
- How are rewards paid?
The first thing to note is that group leaders can choose to share payment rewards with borrowers in their group. However, because group leaders and borrowers have different needs, the rewards are paid in two different ways. Group leaders receive their rewards in cash payments directly to their b ...
- How can I change the rewards sharing level?
If you are the group leader, go to "Your Account > Group", click "Group profile", and then "Edit profile". You can set the sharing level of group leader rewards to "Not Shared", or in 25% increments to 100% (so 25%, 50%, 75% and 100%).
- What are group leader rewards?
Group leader rewards are cash incentives earned by groups and group leaders when a new loan gets fully funded or an on-time monthly payment is made. There are two types of group leader rewards: Match reward: This is a one-time reward that is accrued by a group leader when a group member's loan ...
- What are shared group leader rewards?
Some group leaders may choose to share payment rewards with borrowers in their group. If payment rewards are shared, the group leader will receive only a portion, or in the case of 100% sharing, no payment rewards. Instead, the payment rewards will be passed on in the form of lower interest rate ...
- What if the group leader changes the rewards sharing level?
A group leader may change the rewards sharing level of the group at any time. However, these changes will only affect future loans. If you already have a loan that is active, your original terms will not be affected by any changes the group leader may make. In other words, since the rewards shar ...
- When will I actually receive my group leader rewards?
As a group leader, you will receive non-shared rewards as follows: Match rewards: Received one month after match if the loan is still outstanding (not repaid) and payment is current. Payment rewards: Payment rewards are paid after a 3-month withholding period to ensure the loan isn't bad right o ...
- Where can I see my group leader rewards?
As a group leader, you can see an overview of your group leader rewards by going to "Your Account > Group", where you can see a summary of the last three months' rewards. Clicking on any month's total will display a detailed view of the rewards for that month.
- Why would a borrower join a group that doesn't have 100% rewards sharing?
Here's the thing: groups are designed to help secure lower interest rates for borrowers, even after the group leader rewards are factored in. A borrower can get a good rate in either case: if they are in a group that shares 50-100% of their rewards, the rate will be lower because shared rewards ...
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