Archive for the ‘prosper’ tag
The Last 6 Months on Prosper.com
I funded my first Prosper.com loan in the middle of February, 2008. I’ve been participating in social lending on Prosper.com for 6 months now. Side note: I remember that because I started dating my current girlfriend around the same time I funded my first loan. So far, my returns have been solid and Prosper.com has performed well-above my expectations. For the first couple of weeks, I browsed borrower profiles and hand-selected some borrowers. After realizing I didn’t have time to evaluate each person’s financial needs, I set up a solid standing order that has yet to disappoint me. I used Prosper.com API data as served up by Eric’s CC to identify sensible lending criteria.
I’ve funneled $1600 into Prosper.com. My initial investment was $1000, followed by a $500 input and another $100 input.
And here are my results:
Net Gain:Â $99.14
Total Value of Loans: $1707.95
Daily Interest Accrual: $0.61
Avg. Interest Rate: 13.47%
I must say I’ve been quite pleased with my results. I have 0 defaults and only a couple of payments that have come in late. I’m funding 23 loans.
Prosper has definitely treated me much better than the stock market. The S&P 500 is down 4.98% since February 15th.
How have your Prosper results been? Am I getting lucky?
Dan
