Bulk Up My Trading Account
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 8% |
| Lender Rate: | 9% | Borrower: | quizzoid |
| Finished | State: | KS | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-09-13 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| Sep 13, 2007 | Current |
| Oct 03, 2008 | Payoff in progress |
| Oct 08, 2008 | Paid |
|
Purpose of loan: Loan proceeds will be used to bulk up my Fidelity Trading Account, which I use for short-term stock trades. In addition to my day job, I supplement my income by trading stocks in my Fidelity account. My current account balance is $75,000+, but I am looking to increase my working capital. I earn approximately $2000/month from this account. In 2006, I earned $26000 (with starting working capital of $43000). So far in 2007 I have earned nearly $20000, with starting working capital of $60000. I use margin and occasionally short stocks, but I do not trade options, commodities, penny stocks, or derivatives. I typically trade mid-cap to large-cap companies like Wal-Mart, Target, and Texas Instruments. I rarely add any new companies to my watch list, and typically have been trading the same stocks over and over again for several years. I also wish to establish a credit history on Prosper, as I may become a Prosper lender in the future. My financial situation: I am an excellent candidate to repay this loan because I have a long work history, outstanding credit history, and an extremely solid financial standing. It's the old Catch-22 - I'm an excellent prospect for this loan because I don't really "need" this loan. Monthly net income: $ 4300 (day job), plus additional $2000 from trading Monthly expenses: $ Housing: $ 2650 Insurance: $ 51 Car expenses: $ 50 Utilities: $ 300 Phone, cable, internet: $ 120 Food, entertainment: $ 200 Clothing, household expenses $ 200 Credit cards and other loans: $ 200 Other expenses: $ 200 (gas money) |
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