p2p lending at Prosper.com
Reinvest in Prosper and other less risky investments

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Listing Information
Amount: $24,000.00 Status: Loan created
Grade: AA DTI: 17%
Lender Rate: 11% Borrower: kr7377
Time Left: Finished State: IL
Funded: 100% Group: (No Group)
Loan Information
Loan Status: Current Origination Date: 2008-01-22 EricsCC ROI: 9%
Status History
Jan 19, 2008 Current
Purpose of loan: 
I want to use the funds to invest in Prosper and other Less risky and High return investments. I have been lending money on Prosper for the 11 months. I have about $3700 invested with an average return of 13.09%. I would like to use some of the funds from the loan to reinvest in Prosper, but only a small portion (maybe <$4000) as it takes a lot of time to research before loaning small chunks (usually only $50). But I have had success with only 1 loan being a month late so far and all the remaining 48 loans on time.
Most of the funds from the loan will go into investing in real estate or ETFs or Mutual Funds in emerging markets like India or Brazil. I have been able to get returns greater than 30.00% over the last 5 years from my investments in these markets. They might not be without risk but in the big picture they are poised for a great run in the next decade or so. And I always do my homework before investing.

Regardless of my returns .. .your investment in me will be safe.

My financial situation:
I have a AA credit grade and My DTI before taking this loan will be less than 3%. I have a revolving credit of $6221 which is my monthly average spending on credit cards... but on average 80% of it is from travel expenses on job and are reimbursed by my company on a monthly basis. I always payoff my credit cards in full before the payment due date. My income from my job is around $74,000 and my wife earns about the same. We both work in technology. Our expenses are minimal - we only have one car and it is paid off, we still rent for about $900 a month which comes with all utilities included except for electrical. The elctrical comes to around $25 on average for month. The car and rental insurance comes to about $80 per month and other expenses comes to about $1000 per month. Here's a brief summary of why you should loan me:

  • AA Credit Grade with <3% DTI (before the loan)
  • Stable job for the last 3 years with income > $74,000
  • Most of the revolving credit balance is from on job travel expenses which are reimbursed by the company.
  • Wife working for the same company with about the same income.
  • Expenses close to about $2000 per month
  • Don't own a house and renting is cheap with most utilities included.
  • Credit cards paid of in full every month and no outstanding loans
  • Currently invested about $3700 in prosper loans
  • No late payments ever in my life.
  • This would me by first loan application in 3 years but I am trying to make good investments and not trying to spend it.
  • I spend a lot of time to research before I invest and have made money even when the market was not good back in 2002 and 2003.

I would probably get the loan for 13.50% from my bank but wanted to try prosper. I believe I will get a better rate here for my credit rating. I have a very good net worth and other income apart from my full-time job but thought... that the above information should suffice. If you have any questions... shoot and I will try to answer.

Thanks for your time. 

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