http://www.borrowlend.com/FAQ en-us http://www.borrowlend.com/FAQ ActiveKB NX support@borrowlend.com Thu, 09 Sep 2010 05:41:03 CDT 20 http://www.borrowlend.com/FAQ/questions/48/ Initially, borrowers can request 3-year, fully amortized loans up to $25,000.All loans on Prosper are based on borrowers' credit scores and a group's reputation. There is no collateral necessary ... BorrowLend.com Sat, 07 Oct 2006 16:44:18 CDT http://www.borrowlend.com/FAQ/questions/49/ Borrowers typically receive their loan within 2 to 4 business days of the end of a successful listing. BorrowLend.com Sat, 07 Oct 2006 16:45:45 CDT http://www.borrowlend.com/FAQ/questions/50/ Interest rates are based on the rate selected by the borrower that is matched by the lender. Payments are due each month, based on a fully-amortized repayment schedule over a 3-year period. E ... BorrowLend.com Sat, 07 Oct 2006 16:49:49 CDT http://www.borrowlend.com/FAQ/questions/55/ Borrower Fees 1% closing fee If you are a borrower and your loan is funded, you will be charged 1% of the amount borrowed or $25, whichever is greater. For example, if you take a ... BorrowLend.com Sat, 07 Oct 2006 17:35:18 CDT http://www.borrowlend.com/FAQ/questions/58/ Prosper is authorized to lend to borrowers in most states. The state rate cap and lending limits may change often and Prosper.com maintains a complete list of the state-specific lending poli ... BorrowLend.com Sat, 07 Oct 2006 18:00:01 CDT http://www.borrowlend.com/FAQ/questions/86/ Yes. Because Prosper reports all payment activity to their credit reporting partner, using Prosper is an excellent way for new borrowers to establish a credit history while enhancing their group ... BorrowLend.com Sat, 07 Oct 2006 22:33:59 CDT http://www.borrowlend.com/FAQ/questions/87/ No. Creating a listing for a loan is not counted as a loan inquiry and will not lower a borrower's credit score. An inquiry is only created when a borrower's loan is matched. BorrowLend.com Sat, 07 Oct 2006 22:35:00 CDT http://www.borrowlend.com/FAQ/questions/103/ Many lenders use your credit grade to measure your likelihood of repaying the money you have borrowed based on your past history. Everything from your first credit card during college to student ... BorrowLend.com Sun, 08 Oct 2006 00:08:15 CDT http://www.borrowlend.com/FAQ/questions/108/ Automatic funding is an option for borrowers who want their money quickly and would be satisfied by a specified interest rate, rather than a potentially lower interest rate that could result if ... BorrowLend.com Sun, 08 Oct 2006 00:18:35 CDT http://www.borrowlend.com/FAQ/questions/111/ A Prosper credit grade is a letter grade that Prosper assigns you based on your credit score, for use solely in the Prosper marketplace. Prosper obtains your Experian ScoreX PLUS™ credit s ... BorrowLend.com Sun, 08 Oct 2006 00:25:42 CDT http://www.borrowlend.com/FAQ/questions/114/ It's important to make sure the information in your credit report is correct. If information in your credit report is incorrect, it can negatively affect your credit score, and therefore your ab ... BorrowLend.com Sun, 08 Oct 2006 00:33:03 CDT http://www.borrowlend.com/FAQ/questions/115/ When a borrower initiates the process of posting a loan listing on Prosper, we check to see if we already have a credit grade on file for that person and, if it is less than 30 days old, associa ... BorrowLend.com Sun, 08 Oct 2006 00:36:51 CDT http://www.borrowlend.com/FAQ/questions/116/ Prosper uses a different scoring model than FICO. Scoring models are algorithms that predict risk for different types of loans. Prosper uses the Experian ScoreX PLUS™ model which is more a ... BorrowLend.com Sun, 08 Oct 2006 00:38:00 CDT http://www.borrowlend.com/FAQ/questions/117/ Prosper uses the Experian ScoreX PLUS™ model to calculate credit grades. If you disagree with your credit grade, the first thing to do is to ensure all of the information Experian has in y ... BorrowLend.com Sun, 08 Oct 2006 00:39:19 CDT http://www.borrowlend.com/FAQ/questions/118/ If there is incorrect or missing information in your credit file, only you as the consumer can correct your file. The file you received should contain instructions for doing this.It is Prosper' ... BorrowLend.com Sun, 08 Oct 2006 00:41:39 CDT http://www.borrowlend.com/FAQ/questions/119/ In some cases, you will notice that the borrower rate on a listing is higher than the lender rate. This happens when group leaders choose not to share all group leader rewards. In these cases, a ... BorrowLend.com Sun, 08 Oct 2006 00:43:23 CDT http://www.borrowlend.com/FAQ/questions/121/ The first thing to note is that group leaders can choose to share payment rewards with borrowers in their group. However, because group leaders and borrowers have different needs, the rewards ar ... BorrowLend.com Sun, 08 Oct 2006 00:47:49 CDT http://www.borrowlend.com/FAQ/questions/123/ Some group leaders may choose to share payment rewards with borrowers in their group. If payment rewards are shared, the group leader will receive only a portion, or in the case of 100% sharing, ... BorrowLend.com Sat, 21 Oct 2006 22:55:37 CDT http://www.borrowlend.com/FAQ/questions/124/ A group leader may change the rewards sharing level of the group at any time. However, these changes will only affect future loans. If you already have a loan that is active, your original terms ... BorrowLend.com Sun, 08 Oct 2006 00:51:39 CDT http://www.borrowlend.com/FAQ/questions/125/ Here's how it works: Lender rate = Borrower rate - Group reward (the group reward is the group leader's share of the rewards x payment reward rate) Take a look at the chart below to see h ... BorrowLend.com Fri, 08 Dec 2006 20:31:28 CST http://www.borrowlend.com/FAQ/questions/126/ Here's the thing: groups are designed to help secure lower interest rates for borrowers, even after the group leader rewards are factored in. A borrower can get a good rate in either case: if th ... BorrowLend.com Sun, 08 Oct 2006 00:56:03 CDT http://www.borrowlend.com/FAQ/questions/140/ There are a few ways to get started on creating a standing order: Go to the "Lend" tab and click on the "Create Standing Order" sub-tab. Go to the "Lend" tab and perform a search for listings ... BorrowLend.com Sun, 08 Oct 2006 01:50:53 CDT http://www.borrowlend.com/FAQ/questions/197/ Joining a group can boost your reputation as a borrower and be a gateway to lower interest rates from lenders. Although individual borrowers can and do exist, Prosper thinks lenders will have gr ... BorrowLend.com Sun, 08 Oct 2006 17:16:31 CDT http://www.borrowlend.com/FAQ/questions/198/ Some borrowers will receive an invitation to join a group, while others will need to find a group to join on their own. Take a look in the different group categories and see if there's a group w ... BorrowLend.com Sun, 08 Oct 2006 17:15:44 CDT http://www.borrowlend.com/FAQ/questions/199/ Some group leaders will require their borrowers to submit new listings for their review before they are put on the marketplace. If you join a group that requires listing review, when you finish ... BorrowLend.com Sun, 08 Oct 2006 17:22:17 CDT http://www.borrowlend.com/FAQ/questions/200/ Once you find a group you'd like to join, click "Join this group" on their group home page. If you are not registered with Prosper, you will be asked to fill out a quick registration form. Regist ... BorrowLend.com Sun, 08 Oct 2006 17:24:39 CDT http://www.borrowlend.com/FAQ/questions/201/ No. While borrowers aren't required to join a group in order to post listings on Prosper, they are likely to receive more favorable bids as a member of a group with a good reputation. However, i ... BorrowLend.com Sun, 08 Oct 2006 17:25:54 CDT http://www.borrowlend.com/FAQ/questions/202/ You can leave your group as long as you don't have an active listing or loan. In that case, just go to "Your Account > Group", and click "Leave group". If you have an active listing or loan, you ... BorrowLend.com Sun, 08 Oct 2006 17:27:04 CDT http://www.borrowlend.com/FAQ/questions/203/ Before you get into it, view a tutorial on borrowing money. If you are not registered with Prosper, click the "Register now" button on the home page. You will be asked to fill out a quick regis ... BorrowLend.com Sun, 08 Oct 2006 17:31:35 CDT http://www.borrowlend.com/FAQ/questions/204/ When you create a listing, you specify the maximum interest rate that you are willing to pay, and lenders bid the interest rate down, unlike some other auctions where the price is bid up. Prosper ... BorrowLend.com Sun, 08 Oct 2006 17:32:53 CDT http://www.borrowlend.com/FAQ/questions/205/ When you are confirming your listing, you will have two options for making your monthly payment. The first option is electronic funds transfer, which is free. The second option is bank draft, wh ... BorrowLend.com Sun, 08 Oct 2006 17:34:37 CDT http://www.borrowlend.com/FAQ/questions/206/ If your listing runs out of time and is not yet 100% funded, no loan will be created. If you want to try again, you can create a new listing and ask lenders to bid on you again. If you had troub ... BorrowLend.com Sun, 08 Oct 2006 17:40:10 CDT http://www.borrowlend.com/FAQ/questions/207/ You cannot revise your listing at any time. You can, however, withdraw your listing, and create a new listing with your changes. There is no fee for withdrawing your listing and creating a new one. BorrowLend.com Sun, 08 Oct 2006 17:41:18 CDT http://www.borrowlend.com/FAQ/questions/208/ There are certain scenarios when you may want to withdraw and cancel your listing. For example, you may be uncertain about taking a loan, or would like to create a new listing that you think wil ... BorrowLend.com Sun, 08 Oct 2006 17:43:14 CDT http://www.borrowlend.com/FAQ/questions/209/ You have the option of receiving your funds early instead of waiting for the listing to close at the end of the time period you specified. For example, you post a 7-day listing but by day three ... BorrowLend.com Sun, 08 Oct 2006 17:45:09 CDT http://www.borrowlend.com/FAQ/questions/271/ Each loan listing has a box on the right called "Credit Information."Anyone can immediately view two sources of information:Credit grade A credit grade is a letter grade that Prosper assigns you ... BorrowLend.com Wed, 03 Jan 2007 19:52:52 CST