New Loan Funded — Purchasing rental equipment in my hardware store — $20,000 at 24% — C Credit — DTI 29%

A new loan funded (Purchasing rental equipment in my hardware store — $20,000 at 24%).  I participated via a manual bid, this was an auto funding loan.   The borrow had C credit and 29% 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 $4,050 in principal across 63 loans ($64.29 per loan) with an weighted average interest rate of 16.92% and an account value of $3,944.70. Each loan on average is 1.6% of my portfolio with a maximum in any one loan being 3.8%.

Here is the listing:

RateLadder.com Loan

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

I am requesting this loan so I can add more rental equipment to my existing rental department! I’ve been in the hardware business for 25 years, 20 of those years were with my ex husband, he’s gone and now I’m on my own! I would have sent a picture but I’m not quite sure how to do it!!! 
 

Here is a graph of all loans on Prosper with C credit and a DTI of < 29% and Loan Amount $20,000 +/-$5,000 funded in the last 100 days:

RateLadder.com Loan Analysis

Number of Loans Average Amount Borrowed Weighted Average Standard Deviation
53 $20,164.89 18.85% 3.72%

 

The weighted average plus 1 standard deviation is 22.57%. The weighted average plus 2 standard deviations is 26.29%.  This loan is between 1 and 2 sigmas higher than the mean.

What do you think?

 

Blog Traffic Exchange Related Posts Blog Traffic Exchange Related Websites
  • blog traffic exchangeTax Carnival #41: TaxtoberFest 2008 I think a vital area of personal finance blogging is the explanation of tax issues.  I recently wrote an article titled, "Simple Explanation of Estate Taxes" was chosen for the Tax Carnival #41: TaxoberFest 2008.  The whole Carnival hosted here by Don't Mess with Taxes is a ridiuclous amount of......
  • blog traffic exchangeWhy do libs avoid President Bush's Accomplishments? President Bush's Accomplishments Spotted at Rightnation.us and GOPUSA.com reprinted here for your pleasure. I encourage people who support Bush to learn how effective our President has been, and liberals ought to browse this too. Just remember, the liberal media can't cover up the truth of his accomplishments. The Bush Administration......
  • jerrykellyStricker and Kelly win Shark Shootout The 2009 Shark Shootout, held at the Tiburón Golf Club at the Ritz-Carlton Golf Resort in Naples, Florida, ended on Sunday, won by the team of Jerry Kelly and Steve Stricker. The team went into the lead on Friday's first round, tying with the team of Justin Leonard and Scott......
  • blog traffic exchangeInterest for savers slashed to just 0.1% Banks and buildings societies have silently slashed savings rates over the holidays, with many accounts returning a penny in the pound or 0.1% interest. Lloyds TSB, Halifax, Abbey, Barclays, Alliance and Leicester, NatWest, Nationwide and Royal Bank of Scotland all reduced their rates on variable interest accounts. Egg and Yorkshire......
  • blog traffic exchangeLendingClub vs. Prosper Recently, I had come across an article about zopa.com and it really peaked my interest on peer-to-peer lending. In researching more about Zopa, I also came across two other major peer-to-peer lenders: Prosper and LendingClub. I researched both Prosper and LendingClub a bit and decided I liked LendingClub better, so......
Online Stores If you liked this article, vote for it on del.icio.us and stumbleupon.


Categories:

Loan Review, Prosper.com



Tags:

,


0 comments ↓

There are no comments yet...Kick things off by filling out the form below.

Leave a Comment

aa algorithm axis azerbaijan banks benefit blog borrowers ceo Collections credit grade credit history credit information credit score curves doug fuller email friends and family good luck google income borrowers interest rate interest rates investments launch lenders lending institutions liquidity loans marketplace money mozambique peer to peer lending portfolio plan private data promissory notes quiet period registration statement risk securities and exchange securities and exchange commission spreadsheets sql student loans Zopa