A new loan funded (cash for small business — $25,000 at 14.5%). I participated via a manual bid the loan was Autofunding. The borrower had AA credit and 1422125% DTI (undocumentable income). 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 $4,150 in principal across 65 loans ($63.85 per loan) with an weighted average interest rate of 17.18% and an account value of $4,651.36. Each loan on average is 1.4% of my portfolio with a maximum in any one loan being 3.2%.
Here is the listing:
For the readers that believe in reading the actual description without modification:
am a registered nurse and recently quit my job with Johnson & Johnson to pursue my dream and passion of having my own health food restaurant.
I have entered into a franchise aggreement with a nationwide smoothie/sandwich franchise. I have also signed the lease and gave the deposits required on the building. However, I am in need of additional funding for the required layout of the building. My credit score is excellent and I could have used the tradtional banks until one evening I saw Propser.com feautured on the evening news and thought what a great idea this was. I have always been responsible in my finances and would pay off this debt in a timely fashion as required.To healthy living,
Luke
Here is a graph of all loans on Prosper with AA credit and a DTI of < 1422125% and Loan Amount $20,000 +/-$5,000 funded in the last 100 days:
| Number of Loans | Average Amount Borrowed | Weighted Average | Standard Deviation |
|---|---|---|---|
| 57 | $20,570.18 | 11.65% | 2.65% |
The weighted average plus 1 standard deviation is 14.3%. The weighted average plus 2 standard deviations is 16.95%. This loan is between 1 and 2 sigmas higher than the mean.
Oh yeah. And they are a homeowner.
What do you think?
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