Has anyone used the PROSPER.COM website for borrowing money?

Im a little confussed on the interest rate. when i look up 30 day rates it gives rates for different credit grades and the amount borrowed. is that the going rate people are receiving after they get funded? or the going starting rate when they create their listing? also im trying to create a listing and it is telling me to put in a max interest rate. is this where i put in what the most interest im willing to pay? because right beside it, it states i should go up a few more points then that to get people to bid.

does anyone know what im talking about and have used prosper before.

Answers:
I'm a lender on Prosper. The rates you see on the performance page are the average rates people are getting their loans at. These depend mainly on your credit grade, credit history and amount borrowed.

When you create your listing, put in the max interest reate you are willing and able to pay. A common borrowing strategy is to list at a higher interest rate to get lender attention and then hope it gets bid down. Only enter a rate you can afford, there's no guarantee it will get bid down.

Check out this thread on the Prosper forums for more info on getting funded:
http://forums.prosper.com/index.php?show...

Good luck...
i haven't tried that site yet...
I've been there, but never used it.

I would like to know about it as well.
Hello,
I am Mr Cobbs James, the owner of Cobbs Loan Investment and Estate. I am a lender who gives out loans to those business and private people with low rates of 5%. I give Collateral and Non Collateral loans with a range amount of $5,000USD to $5,000,000USD. If you want a loan and you have a bad credit, no problem contact me on cobbslenders@yahoo.com for more informations about my loan and also filling the loan
application form below.
Your names .........
Your country........
Your address .........
Your occupation ........
Your marital status .......
Current Status at place of work...
Phone number.........
Monthly Income.........
Amount Needed.........
Next Of Kin.........
Purpose of Loan........
Pay Back Duration......
Await your response
James Cobbs

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