My Prosper Group is proud to present our 3rd listing (2nd endorsed listing)… This listing is attempting to put the social in social capital.

The Penny Saved has been a known blogroll buddy of RateLadder for sometime. He asked me about this loan strategy about 2 months ago. This is a calculated decision on his part.

He is a computer programmer, owns a rental property, and independently runs the personal finance blog The Penney Saved.

The loan will be used to raise his credit score so that he and his fiance can build a house… Reducing his revolving credit card debt by transferring the revolving debt to an installment loan will improve his credit score. Specifically, it will reduce his high revolving debt balance percentage (79% in the Prosper listing.)  He is also considering these credit card recommendations to increase his revolving credit availability, also improving hi open ratio.

His listing does a great job of laying out the financial reasoning behind the loan…

Unfortunately for him his inquires in the last 6 months are 3. This places him in an very unfavorable loan slice… This does not affect my belief that The Penny Saved will repay this debt.

I will be bid $105.66 @ 1% (all available cash at the moment… I will add another bid at the end of the listing with all additional funds available at the time.)

Here is what prosper says about that slice…

Minimum bid rate (chosen by borrower): 16.00%
Estimated loss1: -16.49%
Adjustment2: -1.26%
Servicing fee: -1.00%
Estimated return3: -2.75%

Here is the listing.

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