Re: Prosper.com
I have loaned on Prosper on a small scale. I have put about $600 on the site. I have 7 loans that I have help fund for almost $700 dollars (reinvest earlier payments accounts for the extra $100). I have not had 1 default and my average rate is 20.62% . 1 of the loans is actually being paid off in full right now and had been open for 16 months (prosper loans are for 36 months).
I would not put a major part of my portfolio on Prosper, and I have not funded a loan in almost a year. I want to see how these loans finish out before I do anything else with the site.
The only hiccup I have had has been one loan is an occasional slow payer and I believe one payment was NSF, but they have since been back on track.
FWIW you always see people on there with great credit wanting to play loan shark. Borrow money at 9% and loan out to others at higher rates. I loaned money to one A rated borrower who stated that as his plan. All of the other loans I went for high rates as this was my "play money."
|