A new loan funded this afternoon (CCSJ Marketing Acquisition & Expansion
  (Loan #6383) — $20,000 at 15.65%).  I participated via my standing order: Low DTI — AF.  Which is this loan was funded as a low debt to income ratio and was an auto-funding loan.  The borrow had C credit and 14% DTI.  As a reminder my standing orders only find loans with 0 current delinquencies, 10 or less delinquencies in the last 7 years, and 2 or less public records in the last 10.

With this loan I have $3,100 across 50 loans with an weighted average interest rate of 15.96%.

Here is the listing:

For the readers that believe in reading the actual description without modification:

Hello and thank you everybody for your attention to my listing.

I am a successful and smart entrepreneur looking to expand my business and marketing
operations in the Sacramento and SF bay areas. I am also a homeowner with several investment properties.
I know first hand the value of good credit and seek to maintain it at all cost. As such this is a very low risk loan
and i was tempted to lower the interest rate a few points but decided i wanted to be fair
to all the investors supporting me in my endeavors. The money gathered for this loan will
go to expanding into a new office and other marketing expenses.

EXPLANATION OF “C” CREDIT
Prosper just so happens to use Experian as the choice credit bureau provider. My scores
on the other two bureas[sic] are much higher and I should normally be placed in the B or above rating.
I have never had any negative credit issues or late payments whatsoever. So rest assured

This loan will also give me the chance to experience prosper in action first hand, as i
have many clients that need extra funding to expand their operations. I would like the chance to give prosper
a recommendation.

FINAL NOTE TO LENDERS:
As you can see this is a very safe investment, and I will take all precautions to make sure it stays that way.
Once gain thank you for your consideration.

Here is a graph of all loans on Prosper with C credit and a DTI of 14% +/-5% and Loan Amount $20,000 +/-$5,000:

Number of Loans	Average Amount Borrowed	Weighted Average
15	$17,683.33	17.37%

 

17.37% weighted average… Maybe I need to up my standing order interest rate?

What do you think?

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