Investment Funds
| Listing Information | |||
|---|---|---|---|
| Amount: | $6,001.00 | Status: | Loan created |
| Grade: | AA | DTI: | 1,525% |
| Lender Rate: | 10% | Borrower: | LoanManager-com |
| Finished | State: | MD | |
| Funded: | 100% | Group: | Computer & IT Professionals |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2006-11-13 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Nov 11, 2006 | Current |
| Apr 16, 2007 | Payoff in progress |
| Apr 20, 2007 | Paid |
|
Hello, LOAN AMOUNT: Loan amount is $6,001, which is the minimum loan amount allowable (I assume it varies by state, but $6,001 was the lowest that Prosper.com let me enter). LOAN PURPOSE: The use of proceeds will be investment: 1) To increase my Prosper portfolio, which currently (as of 10/26/06) consists 11 loans at an average rate of 11.3% and an average credit rating of "A." All loans are performing. I anticipate I will continue bidding on loans with a similar credit profile. 2) To incorporate my Internet business. REPAYMENT: If the loan funds at a "low" rate, I anticipate repaying this loan as scheduled (i.e. over three years). If this loans funds at a "high" rate, I anticipate paying this loan off early. MY DEBT-TO-INCOME RATIO: My DTI ratio is high because I am currently self-employed (as of 2006) and therefore my 2005 tax returns cannot be used to verify my current self-employment income. However, for the sake of disclosure, my 2005 taxable income was $79,947. CREDIT HISTORY: My credit history goes back almost 20 years and during that time I have, to the best of my knowledge, never been late on any of my various loans. Hence the AA credit rating. Thank you, Chris |
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