Has anyone gotten a loan through this company? It seems very difficult to get one, and Im wondering what I have to do to increase my chance of success if I put a listing on there. Please share your experience if you know anything about this. Thanx in advance.
2007-01-29 07:07:12 · 4 answers · asked by ♥mama♥ 6 in Business & Finance ➔ Investing
I am a lender and borrower on Prosper. I recently had a loan funded for $5000 at 8.85% interest and I have a B credit rating. It depends on your credit rating and how much you borrow. Start out trying for $5000 or less and be sure to start at a higher interest rate. I started at 11% and the rate was bid down over the 7 day period. Have someone read your listing before you post it to see if there are any grammatical errors or if any additional information needs to be added.
When I am deciding who I lend to I look at why they want the money, what there bills are now, if they are able to afford the payments, and how many delinquencies they have on their report. I also am more likely to loan to someone who has a picture posted with their listing...it makes them seem more like a real person. Good Luck!
2007-01-29 09:29:02 · answer #1 · answered by steffers4979 4 · 0⤊ 0⤋
I thought about lending money using prosper.com. But the amount is too negligible to make it worth while. You will get the money provided you are willing to pay high interest rate.
2007-01-29 15:17:03 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Here is a rule....If your bank won't give you a loan, you shouldn't be borrowing anywhere. You will just get locked in a credit trap, paying rediculous amounts of interest and never getting ahead in life,
2007-01-29 17:27:10 · answer #3 · answered by bob shark 7 · 0⤊ 1⤋
Yes I tried too. And I gave up trying.
2007-01-29 15:28:02 · answer #4 · answered by da_hammerhead 6 · 0⤊ 1⤋