Loans created in March of 2006 are done now correct? They have all been paid off, defaulted or late since loans are for 3 years time?
Almost.
Here's my counting:
Consider a loan originated on 03/31/2006.
1st payment was due on 04/31/2006.
36th payment was due on 03/31/2009.
That 36th payment becomes 4 months late on 07/31/2009.
Current prosper policy is to charge off a loan that is 4 months late, so 07/31/2009 would be the end if nothing happened to extend the loan. I believe some loans could need a small 37th payment, because of late payments that caused unpaid interest to accumulate, so some could theoretically finish when that payment is 4 months late, on 08/31/2009. If a loan were held up by bankruptcy it could extend longer.
Prosper's performance web page shows that the March 2006 loans include 4 loans that are still active. Of these, 3 loans are now "1 month late" and 1 loan is "3 months late".