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I'm Saving All My Lending Cash For You! ($1229.48)
I have $1229.48 in my lending account at the moment (was $570.09 on 7/29/07) and will bid the whole amount at 1% interest on the first Prosper listing that meets my criteria.
If your listing "wins" I will do what I can to promote it to other lenders, since I believe it will be a unique listing in the history of Prosper.
I am not a Group Leader. You can prepare your listing through any Group Leader (GL) who is willing to do the verification and who is unrelated to you.
REQUIRED LISTING CRITERIA:
(1) Borrower's Listing must have:
- Credit Grade AA-D
- No Current DQ's
- City Set Visible
- Loan Amount => $3000
- Interest Rate 10% or higher
- Any prior Prosper loan paid off or have 12+ consecutive on-time payments
(2) Listing must have at least 5 Verified Endorsers (no two from the same category) who bid personally and are from these categories:
- a next-door neighbor
- a co-worker
- your boss
- your priest/rabbi/minister
- your landlord
- a parent or grandparent
- an in-law (if married)
- a longtime friend
- a job reference/business associate
- a Leader/Officer of local organization/association/club you've been involved with for 2+ years (up to 3, each from different ones)
(3) Each Verified Endorser is required to:
- declare their relationship to the borrower
- declare at what interest rate/amount all bidding is made at
- be willing to be contacted by the GL for verification
(3) The borrower will supply the GL with contact information for the Verified Endorsers, and the GL will contact them to confirm the relationship and will post the confirmation on the listing.
Good luck! I don't care about pictures, budget, why you want the loan, etc. but other lenders might want that information.
As I receive payments from my other Prosper loans I will let it accumulate in my lending account so I can increase the amount of my bid on the "winning" listing....I'm Saving All My Lending Cash for you!
Edits made:
Removed references to GL fees since these fees were eliminated by Prosper. (9/13/07)
Added requirement that GL be unrelated to the borrower. (9/13/07)
Added as potential endorsers: Leader/Officer of local organization/association/club (9/13/07)
Requirement that any prior Prosper loan be paid off (11/22/07)
Updated Lending Account Cash (11/22/07)
Requirement for Loan Amount to be at least $3000 (12/12/07)
Allowed Borrowers who have made 12+ consecutive on-time payments to qualify (1/29/08)
This Borrower's Challenge was originally posted on the Prosper.Com forums on 7/29/07. While other lenders publically pledged an additional $1200 on this loan, the records are temporarily unavailable. My personal pledge remains in effect, and any lenders who would like to indicate their support on this loan may do so here.
SuperCleanRick and nextmarket indicated that they would be interested in perhaps being the Group Leader for the winning listing.
"I’m Saving All My Lending Cash For You!" threads (7/2007-3/2008)
http://www.prosperreport.com/prosper/forums/archive/threads/2/8/9/28963.0.HTM
http://www.prospers.org/forum/im_saving_all_my_lending_cash_for_you_95175-t3976.0.html
https://connect.prosper.com/p/1532/8865.aspx
https://connect.prosper.com/t/558.aspx
Discussion thread on the Winning Listing:
http://www.prospers.org/forum/eandr123_10_raised_by_vbes_the_mothandrust_challenge-t6245.0.html
For Borrowers & Group Leaders—"How To Write Endorsements To Attract Lender Bids"
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