As safe as it gets!! AA..Investing in the Prosper community.
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|Loan Status:||Paid||Origination Date:||2008-02-20||EricsCC ROI:||7%|
|Feb 20, 2008||Current|
|Oct 13, 2009||Payoff in progress|
|Oct 21, 2009||Paid|
Purpose of loan:
I have been lending on Prosper since October 2007 and wish to obtain a loan with Prosper to increase the loan value of my portfolio. 100% of the requested loan amount will be reinvested into other prosper loans. This loan is strictly for playing the margin game by using my credit score to obtain a loan and earn the difference between my interest rate I am charged, and the interest the funds are being lent out to other prosper borrowers. Please understand, that I have more than enough funds to use my own money, but would rather keep earning interest in a high yield savings account and a modest return in the stock market (stocks have been really volatile as of lately) and give a good return to my fellow prosper lenders that invest in this loan. We both win, I get the margin of the interest earned, and you get a risk free guaranteed return on your investment in funding my loan request. Hopefully this will be the first of many investment loans, but you have to start with your first at some point.
NOTE: Effective October 2007, Prosper does not charge annual servicing fees for lenders that invest in loans with a Borrower?s Credit grade of AA.
This means that you put that additional amount of 1% each year in your pocket, but it is only if you as a Lender invest in loans with a Borrower?s Credit Grade of AA.
Another reason why you should invest in my loan request. You won't pay any loan servicing fees.
My financial situation:
I consider myself a pretty conservative person and am very financially savvy in managing money and investing. I am a Certified Public Accountant and have held my license in my state for 2+ years now. I have a Bachelor of Science in Accountancy with a Certificate (similar to a minor) in Corporate Finance. I?m also currently pursuing my MBA with only 9 more required classes remaining after this semester. I have never missed or been late on any debt payments (this is reflected on by AA credit rating by prosper) nor do I plan on it. I?m a safe bet and a sure thing as far as a return on your investment. There aren?t many sure things out there right now with the way the market and the economy are currently.
Monthly net income: $ 7,200 (includes spouse)
(Income doesn?t include my bonus $15-20K/Yr paid quarterly)
All expenses are combined household expenses. This is why I included my spouse?s income into the net income above. The income that will be verified by prosper is just my own as required by Prosper.
Monthly expenses: $ 5,300
Housing: $ 1,700
Insurance: $ 95
Car expenses: $ 875
Utilities: $ 250 (Average per month)
Phone, cable, internet: $ 180 (includes Cell phones)
Food, entertainment: $ 500
Clothing, household expenses $ 200
Credit cards and other loans: $ 800 (Student Loans) CC are paid off each Month
Other expenses: $ 700 (daycare)
This budget is very close to what we actually spend each month give or take a little on Food, entertainment and Clothing, Household expenses. This leaves us with approximately $1,900 each month as disposable income (does not included my Net (not gross) quarterly bonus of approximately $3,800/Quarter.