I have a credit score of 545 would prosper.com be willing to help me out with a loan?
2006-11-21 08:50:23 · 1 answers · asked by hutsontl@sbcglobal.net 1 in Business & Finance ➔ Credit
I have lent out some money on Prosper.com.
You post a profile where you basically describe how much you need, what the money is going to be used for, and, most importantly, how you will pay it back. You also need to decide what interest rate you will pay. With a lower credit score, you will need to offer a higher rate. I have a few loans paying 25-30% interest. Lenders then may bid on your loan. The lender decides how much to lend. For exemple, if you requested $1000, you may get $50 from 20 different lenders. The process takes a while (10 days or so) and, for multiple reasons, you may not get anything.
Go to Prosper.com and look at the listings of other borrowers if you need some ideas on what to write. Good Luck.
2006-11-21 08:59:56 · answer #1 · answered by Wayne Z 7 · 0⤊ 0⤋