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Prosper Discussion => Borrowers - P => Topic started by: buhcorp on September 15, 2011, 04:00:21 PM

Title: Second Prosper Loan Decent Interest Rate of 12% - Verification Stage 3
Post by: buhcorp on September 15, 2011, 04:00:21 PM
This is my second Prosper loan. I recently paid off my last one (for $25,000), but I am still working on lowering my high interest credit card debt, so this loan will be used to pay off high interest credit cards.  Requesting $20K  https://www.prosper.com/invest/listing.aspx?listingID=490627 (https://www.prosper.com/invest/listing.aspx?listingID=490627)

Expires Monday Sept 26
17% funded so far
Verification Stage 3  :)

Check out the listing and let me know if you have any questions!
Title: Re: Second Prosper Loan Decent Interest Rate of 12% - Verification Stage 3
Post by: Peter on September 15, 2011, 11:02:55 PM
This is my second Prosper loan. I recently paid off my last one (for $25,000), but I am still working on lowering my high interest credit card debt, so this loan will be used to pay off high interest credit cards.  Requesting $20K  https://www.prosper.com/invest/listing.aspx?listingID=490627 (https://www.prosper.com/invest/listing.aspx?listingID=490627)

Expires Monday Sept 26
17% funded so far
Verification Stage 3  :)

Check out the listing and let me know if you have any questions!

I checked out your listing and while I don't normally invest in A-rated loans I made an exception in this case. Your listing looks great - you have a flawless history. I think the only thing stopping you from funding more quickly is the relatively low interest rate. Some investors (myself included) don't like to invest in AA or A rated loans for that reason.

The only suggestion I would make is to switch to an active group. You are a member of Rateladder_com which is pretty much inactive now. The group I belong to is Socorro Capital Partners and they have many active members who will bid on other member loans. Another good group is LendersClub. Check them out and they may be able to help get you funded faster.
Title: Re: Second Prosper Loan Decent Interest Rate of 12% - Verification Stage 3
Post by: buhcorp on September 16, 2011, 06:20:40 AM
Much appreciated Peter and I definitely understand regarding the interest rate.  I will take a look at the group this weekend - that is an excellent point.


I checked out your listing and while I don't normally invest in A-rated loans I made an exception in this case. Your listing looks great - you have a flawless history. I think the only thing stopping you from funding more quickly is the relatively low interest rate. Some investors (myself included) don't like to invest in AA or A rated loans for that reason.

The only suggestion I would make is to switch to an active group. You are a member of Rateladder_com which is pretty much inactive now. The group I belong to is Socorro Capital Partners and they have many active members who will bid on other member loans. Another good group is LendersClub. Check them out and they may be able to help get you funded faster.
Title: Re: Second Prosper Loan Decent Interest Rate of 12% - Verification Stage 3
Post by: buhcorp on September 21, 2011, 07:38:28 PM
I tried to switch groups over the weekend, but apparently you cannot change groups when you have an active loan listing.  That seems bit weird, huh?  Plus I found the group area to be very difficult to use.  Is it just me or have they let the "social" aspect of social lending wither and die?
Title: Re: Second Prosper Loan Decent Interest Rate of 12% - Verification Stage 3
Post by: Peter on September 21, 2011, 10:19:22 PM
I tried to switch groups over the weekend, but apparently you cannot change groups when you have an active loan listing.  That seems bit weird, huh?  Plus I found the group area to be very difficult to use.  Is it just me or have they let the "social" aspect of social lending wither and die?
Yes, this is very true. The social side of social lending continues to be less important - I think you can blame the SEC and the privacy laws for that.

Well if your loan doesn't fund maybe you can try again after joining one of the groups I mentioned. Or you could try Lending Club.
Title: Re: Second Prosper Loan Decent Interest Rate of 12% - Verification Stage 3
Post by: buhcorp on September 23, 2011, 08:23:03 AM
I think I am on track to fund at 100%.  Crossed over 70% last night (I set it to fund over 70%) and Prosper sent out a nice little email to investors:

"We just launched the Verification Stage, an investor tool which makes it easier for you to spot loans further along in the loan verification process. The higher the Verification Stage, the more likely the loan will fund and originate. And now through Tuesday, earn 2.25% Cash Back on your total investment of $1,000 or more in loans in Verification Stage 2 or 3."

That should push me to 100% before Monday.  Thanks for the advice and the investment!!
Title: Re: Second Prosper Loan Decent Interest Rate of 12% - Verification Stage 3
Post by: Peter on September 23, 2011, 08:46:01 AM
Congratulations. I see you are at 78% this morning, so I agree it is highly likely you will get to 100% by Monday.