I have finally received my first payments for all ten of my loans through Prosper.com I was a little concerned about one of my loans because they were 5 days late with the first payment. Not a good thing! But still, the payment was made and I’ve received all ten payments. My criteria for my first $500 investment in Prosper was to stay fairly conservative and look for AA to B credit ratings. Prosper has a credit grading system from AA-HR. Rates on loans range from around 7% for an AA to 35% for an HR. You do risk more of your investment with an HR since they do not have a credit score to worry about. Interesting that my first late payment was from a B credit rating and not an D or E.
My 10 loans for $50 each:
AA 8.7%
E 19%
D 16%
D 17.5%
A 11.5%
B 27%
B 14.15%
C 18.5%
A 8.5%
AA 8.95%
Since all 10 of my loans are complete, I’m thinking about investing $100-250 more. Let me know if you have tried Prosper and how your investments are working out?
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Hi there,
Thanks for visiting my site http://www.makemesomemoney.co.uk
Prosper sounds interesting.. perhaps I’ll take a look!
Best regards
Alan