Prosper has changed the eligibility criteria for borrowers wishing to get a second loan with Prosper.

The minimum amount of consecutive on time payments is now 6 months. Before it was only 2 months. Pre-payments don’t count.

This is a good change. It eliminates the potential for people getting a second loan to cover a first that they know will be in trouble, or generally racking up too much debt too fast. It also gives the credit bureaus more time to update their records so the new Prosper loan is reported.

I would say this is another measure Prosper is taking to curb defaults. It makes sense to establish more of a track record before being allowed to take out another loan.