Student Loan to complete Commercial Flight Training
| Listing Information | |||
|---|---|---|---|
| Amount: | $4,400.00 | Status: | Loan created |
| Grade: | C | DTI: | 0% |
| Lender Rate: | 35% | Borrower: | JL8860 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-08-01 | EricsCC ROI: | 34% |
| Status History | |
|---|---|
| Aug 01, 2008 | Current |
|
Purpose of loan: The purpose of my loan request is to continue my commercial flight training. My original Propser Loan of July 2007 has allowed me to get my Instrument Rating, but the increased cost of fuel and instructor has hindered my ability to fly enough hours to earn my CFI certificate. I will use these funds to purchase a "block" of time in advance so that even though I understand I will pay a higher rate of interest, some of the higher interest rate will be off-set by savings on fuel. Once I am able to teach I will be able to supplement my existing income. I have been flying with the same FBO for several years and he has promised to allow me to teach on a part-time basis as I intend to continue in my full time position as VP Sales in order to repay this loan. My financial situation: I am a good candidate for this loan because I am committed to complete my training and pay my student loans in full. While we have experienced credit problems in the past, we have increased our credit score and all of our accounts are current. My wife and I have pre-paid our accounts to improve our credit score. I am a home owner and my mortgage payments with Wachovia are current and all my taxes are current. I do understand that my credit history will not allow me to obtain a conventional student loan and that I will pay a siginificantly higher interest rate, but I am willing to do that to achieve my license. I believe that my committment to completeing my training, my committment as a homeowner to living in this area and my track record with Prosper will make this an attractive and profitable investment for lenders. This loan request has been re-listed because Propser has changed their income verification policy since my income was verified last year and my first Propser loan was funded. Propser will not verify my income via my bank statements. Monthly net income: $14,500.00 Monthly expenses: $ 9,050.00 Housing: $ 1,900 Insurance: $ 1,000 Car expenses: $ 500 Utilities: $ 350 Phone, cable, internet: $ 300 Food, entertainment: $ 1,500 Clothing, household expenses $ 1,000 Credit cards and other loans: $ 500 Other expenses: $ 2,000 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 158763 | Continue Commercial Aviation Training | C | $8,800 @ 22% | Jun 26, 2007 | Withdrawn |
| 159998 | Continue Commercial Aviation Training | C | $8,800 @ 18% | Jun 28, 2007 | Loan created |
| 322321 | Student Loan to complete Commercial Flight Training | D | $7,500 @ 35% | May 01, 2008 | Expired |
| 331896 | Student Loan to complete Commercial Flight Training | D | $7,500 @ 35% | May 13, 2008 | Expired |
| 336051 | Student Loan to complete Commercial Flight Training | D | $6,300 @ 35% | May 20, 2008 | Expired |
| 341261 | Student Loan to complete Commercial Flight Training | D | $5,500 @ 35% | May 29, 2008 | Expired |
| 352148 | Student Loan to complete Commercial Flight Training | C | $5,000 @ 21% | Jun 17, 2008 | Expired |
| 357872 | Student Loan to complete Commercial Flight Training | C | $4,800 @ 21% | Jun 26, 2008 | Expired |
| 363858 | Student Loan to complete Commercial Flight Training | C | $4,400 @ 24% | Jul 08, 2008 | Expired |
| 367969 | Student Loan to complete Commercial Flight Training | C | $4,400 @ 24% | Jul 15, 2008 | Expired |
| 371694 | Student Loan to complete Commercial Flight Training | C | $4,400 @ 33% | Jul 22, 2008 | Cancelled |
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