A legitimate borrower at Prosper should have 1 main objective — get the loan fully funded. Granted there are other objectives (like getting the best interest rate), but none are as important as getting 100% funded. Without being 100% funded you will not get the loan.
Prosper.com can be used to obtain up to $25,000 dollars in funding by borrowing money from ordinary people via the Prosper peer-to-peer lending platform. This funding can typically be obtained faster and with less hassle than your local bank.
To the end goal of getting your listing fully funded I have some rate guidance for borrowers. These rates will get your legitimate listing funded. This is not to say that listings with fraudulent, poorly written, missing information, or unexplained flaws will fund. BUT, all legitimate well written and well meaning borrowers will get funded at these rates…
I encourage all borrowers interested in Prosper to click the banner on the top right of this page and explore for yourself. There are many strategies for some of the other objectives, but for getting to 100% funded there is no better strategy than picking the correct starting interest rate.
Without further ado… borrowers please use these rates with your listing for all credit grades 29% … lol j/k.
| Credit Grade | Interest Rate | Fully Funding % |
|---|---|---|
| AA | 13% | 90% |
| A | 16% | 90% |
| B | 20% | 85% |
| C | 23% | 80% |
| D | 27% | 80% |
| E | 29% | 75% |
| HR | 29% | 50% |
p.s. If you want my money you will also make your listing automatic funding.
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9 comments ↓
I’ve gone to funding autofunding loans for the time being as well. I was tired of being outbid in the last 5 minutes of a loan.
I have to agree with the Warrior. In the loans that are not auto-funding, I find myself waiting for other people to bid and then I’ll only get in at the last minute. Getting sniped at the last minute and having to wait another few days you make a loan is not a lot of fun.
Do people use bidding services as they do with ebay? If so, likely you would be outbid. Even using a bidding service, I was outbid, so now I just watch and decide as I go re ebay. Autofunding loans sound a lot easier.
I am autofunding all the way… I hardly even look at non autofunding even manually as the effort required to get a good loan is way to high… I think someone stole my identity as I am the original lazy man.
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automatic funding will get you the loan you wanted.
Proper looks like a good idea im currently tryin to get a long to pay the remaining balance on my car. I ran into a little trouble and need 2 pay off my 5 payments because the lender want there money now if i had it i would pay it off. It would take me about 4 weeks but they are really on my butt about it
my is Listing #312377) if anyone wanna check it out and help
Prosper seems to be a great alternative. I was trying for a loan at a D rating when their were capped interest rates at 17% in the state I live in (Kansas). Im glad that has been done away with. Im currently trying to pay a few cards off now but really just establishing myself as a good borrower. My is Listing #314382 if anyone wanna help.
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