A new loan funded (Working Capital Loan for Post Production Company — $21,000 at 18.50%).  I participated via a manual bid, this was an autofunding loan.   The borrow had B credit and 59% DTI.  As a reminder my standing orders (and manual bids) 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 $4,000 in principal across 62 loans ($64.52 per loan) with an weighted average interest rate of 16.83% and an account value of $3,941.48. Each loan on average is 1.6% of my portfolio with a maximum in any one loan being 3.8%.

Here is the listing:

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

This is a working capital loan for an Emmy Award Winning Sound Desing studio in Los Angeles California. We have been in business for 8 and a half years and have made a profit every year. This loan is to be used for business expenses and equipment purchaes (around $2200). this quarter we will have a $16,600 Net Profit.  We currently have contracts for two Direct to Video movies, Barbie 6 and Inspector Gadget.  We also have two 13 episode series starting in the fall for DIC Productions. Our expected net profit for the year should be $93,000. Our gross income is $20,450 per month with overhead of $14,260 per month. The loan will most likely be paid off in two years. I own all of the equipment for the business, as well as the building. I have never defaulted on a loan.

Here is a graph of all loans on Prosper with B credit and a DTI of < 59% and Loan Amount $20,000 +/-$5,000 funded in the last 100 days:

Number of Loans	Average Amount Borrowed	Weighted Average	Standard Deviation
68	$20,078.63	16.59%	4.00%

 

The weighted average plus 1 standard deviation is 20.59%, but still 1.91% better than the weighted average.  What do you think?

 

Related posts:

• New Loan Funded — Working capital to expand co., unique niche/no competition — $25,000 at 20.00% — B Credit — DTI 24% A new loan funded (Working capital to expand co., unique niche/no competition — $25,000 at 20.00%).  I participated with 2 standing orders High Amt — MID DTI...
• New Loan Funded — Purchasing commercial real estate — $10,000 at 18.00% — C Credit — DTI 23% A new loan funded (Purchasing commercial real estate — $10,000 at 18.00%).  I participated via my new standing order: Low Amt — Mid DTI —...
• New Loan Funded — Consolidating — $25,000 at 23.00% — C Credit — DTI 39% A new loan funded (Consolidating — $25,000 at 23.00%).  I participated via my old standing order: High DTI — AF.  Which is this loan was...
• New Loan Funded — payoff current loan and new invest on business — $25,000 at 29.00% — E Credit — DTI 37% My very first E credit loan… A new loan funded (payoff current loan and new invest on business — $25,000 at 29.00%).  I participated via a...
• New Loan Funded — paying bills — $5,000 at 26.00% — D Credit — DTI 12% A new loan funded (paying bills — $5,000 at 26.00%).  I participated via my new standing order: Low Amt, Low DTI — AF.  Which is...

If you liked this article, vote for it on del.icio.us and stumbleupon.


Categories:

Loan Review, Prosper.com

Tags:

azerbaijan, mozambique