P2P lending outfit Prosper is looking to cash in on green consumer interests by partnering with electric motorcycle manufacturer Zero to offer a hire purchase financing option.
At the point of purchase, Zero Motorcycles' customers can now opt to create a Prosper loan listing for financing on an $8995 lithium ion-power bike with monthly payments as low as $290 a month and a down payment of $1000.
Chris Larsen, CEO and co-founder of Prosper comments. "By working together to provide an innovative financing solution for Zero's customers, we're empowering people to make a tangible, positive environmental and economic impact at every level of the transaction."
He says that to place a Zero Motorcycles order and fill out the loan application takes less than fifteen minutes. The loan can include the purchase of accessories, upgrades and apparel.
As part of the process, the buyer sets the maximum financing rate they're willing to pay and lenders bidding in the Prosper marketplace can bid at or below that rate, providing an opportunity for the rate to be bid down.
Prosper handles all on-going loan administration tasks including loan repayment and collections on behalf of the matched borrowers and lenders.
Prosper is billing the service as "the first fully integrated peer-to-peer lending retail purchase financing solution in history".