Tuesday, May 6, 2008

Prosper Progress

I started lending on Prosper almost two months ago, mainly for the $25 signup bonus. It turned out to be pretty fun looking through loans so I ended up loaning out $325. I thought I'd occasionally make a post on how my loans are doing. Here are the loans I've made so far:

As you can see, I'm going for fairly high interest rates. I'm interested in people who are taking out small loans to rebuild their credit. Essentially they're gaming the system by getting a small loan and having Prosper report positively when they repay it on time. Since the loans are small and will probably be paid back early they can afford exorbitant interest rates.

The other interesting one was from someone with an AA credit rating who needed capital to start up a youth home. He claimed he already had contracts with the city so it seemed like a pretty sure thing.

Here you can see a summary of my account:

If you'd like to sign up for Prosper, use the following referral link and you will get a $25 signup bonus (as will I):

Business & Personal Loans. Great Rates. Prosper.

1 comment:

SavingDiva said...

I really like Prosper. I don't have as much invested, but I'm happy with how my investments are doing right now.