Prosper.com
(HIGHLY RECOMMENDED!!!)
www.prosper.com
(be sure to read their FAQ section to familiarize yourself with this fantastic lending group)
Prosper is a
peer to peer and or
people to people lending group.
Prosper is a marketplace for credit
that enables people to lend money to other people in a safe, efficient manner. Prosper is a leap back to a time when people formed credit communities to help themselves live better lives and earn a fair return on their money. Prosper's founding principle is that people from close communities act more responsibly towards each other. Prosper leverages this powerful concept of group responsibility
and applies it to person-to-person lending, resulting in better interest rates for people that borrow and lend.
Prosper enables people to create groups, which borrowers join to request loans up to $25,000 by posting listings indicating the maximum interest rate
they wish to pay. Lenders search for and select these listings
based on the borrower's credit, debt profile, and group affiliation*. Lenders bid on listings by indicating a minimum rate they are willing to accept. When a loan is matched between borrower and lender, Prosper handles all of the tasks needed for payment and collection of the loan.
A Prosper
borrower is any person
who is a U.S. resident with a credit score of at least 520, a bank account, and a social security number. After passing Prosper's anti-fraud and identity checks, borrowers can request
unsecured loans from
$1,000 to $25,000 at rates they select. Borrowers should join a group
to ensure they get access to the best rates. Prosper allows borrowers to post listings on the platform
regardless of their credit or income. All loans provided are UNSECURED and the borrower is given 3 YEARS to pay the loan back with NO pre-payment penalties.
*NOTE: The Prosper Group known as
FIRST CHOICE is in our opinion
THE ABSOLUTE BEST group to join. However,
you may join any group that you so choose. Keep in mind that joining a group with a good to great overall group reputation
will extremely increase your chances at getting funded rather than NOT joining a group. Again, the Prosper Group known as
FIRST CHOICE is in our opinion
THE ABSOLUTE BEST group to join.
How to Join the FIRST CHOICE group on
Prosper.com
a) Before you can join the
FIRST CHOICE group (or any group for that matter),
you must FIRST actually become a registered member of Prosper. To do so, simply go to Prosper's HOME page and CLICK on the red "
Join Now" button on the right hand side of the webpage, fill in your information then CLICK Join Now.
b) You will soon thereafter receive a
registration confirmation request email sent to you.
c) Confirm your registration.
d) After you have confirmed your registration, log in to
Prosper.com. Underneath the red "
Join Now" button it reads "
Already a member? Sign in now", CLICK that and sign in using your email address and password you selected.
e) Once signed in, CLICK on the tab that reads "
Groups" toward the top of the page (found between the tabs "Lend" and "Your Account"). Next, on the left hand side where it reads "
Search Groups", type the word "
first" in the "Keywords:" field and CLICK "Search".
f) In the Search Results field click on "
FIRST CHOICE" (it doesn't matter if you click on the one that reads
FIRST CHOICE or
FIRST CHOICE 2).
g) Scroll down and read their ENTIRE Description (you will notice they state that
"When you are accepted to this group you will receive detailed copyrighted listing guidelines to help maximize your chances for success").
Follow the instructions in their Description to Join their group.
h) Once you join the
FIRST CHOICE group you will shortly thereafter receive a email message informing you that your group membership was approved, shortly followed by another email message containing the
FIRST CHOICE Borrowers Guidelines which is copywrited by the two founders of the group
to guide you on how to post your request for a loan in such a way that your chances for getting funded will be VERY HIGH.
