http://www.borrowlend.com/FAQ en-us http://www.borrowlend.com/FAQ ActiveKB NX support@borrowlend.com Tue, 07 Sep 2010 16:10:26 CDT 20 http://www.borrowlend.com/FAQ/questions/89/ Because Prosper allows lenders to bid on all or parts of loans, lenders can fund as little as $50 and as much as $25,000 on any particular loan listing. BorrowLend.com Sat, 07 Oct 2006 22:37:41 CDT http://www.borrowlend.com/FAQ/questions/90/ Lending is not just for businesses—any individual can become a lender. Just go through the lender account setup to get started. BorrowLend.com Sat, 07 Oct 2006 22:44:23 CDT http://www.borrowlend.com/FAQ/questions/91/ You do not need to be licensed to be a lender on Prosper. Although they refer to you and other individuals as "lenders", the loans are being made by Prosper and then sold to you, making you a lo ... BorrowLend.com Sat, 07 Oct 2006 22:46:24 CDT http://www.borrowlend.com/FAQ/questions/92/ No one guarantees the loans at Prosper. This is real life, and in real life, sometimes people default on their loans. If a borrower is more than one month late on a payment, Prosper engages a co ... BorrowLend.com Sat, 07 Oct 2006 23:04:57 CDT http://www.borrowlend.com/FAQ/questions/100/ A standing order is an automatic bidding tool used by lenders, in which the lender authorizes Prosper to place bids on their behalf on loan listings that meet specific criteria. For example, if ... BorrowLend.com Sat, 07 Oct 2006 23:33:42 CDT http://www.borrowlend.com/FAQ/questions/101/ To create a standing order, and therefore bid on loan listings, you must be a registered user. Register now. You must also complete your Lender account setup. Become a lender now. Because pl ... BorrowLend.com Sun, 08 Oct 2006 00:05:11 CDT http://www.borrowlend.com/FAQ/questions/102/ Before you get into it, view a tutorial on lending money. Just go through the lender account setup to get started. To become a lender, you must be registered with Prosper. If you are not re ... BorrowLend.com Sun, 08 Oct 2006 09:36:16 CDT http://www.borrowlend.com/FAQ/questions/104/ Part of a borrower's credit profile is a debt-to-income ratio. Debt-to-income ratio (or DTI) is a measurement of the borrower's ability to take on additional debt. This number takes into consid ... BorrowLend.com Sun, 08 Oct 2006 00:09:32 CDT http://www.borrowlend.com/FAQ/questions/109/ Because the listing doesn't fund until enough bids have been placed, and since the bid counting process is the same for automatic funding listings as it is for non-automatic funding listings, if ... BorrowLend.com Sun, 08 Oct 2006 00:31:22 CDT http://www.borrowlend.com/FAQ/questions/112/ HR = High Risk. These borrowers have a credit score below 540, which many traditional lenders consider to be high-risk. NC = No credit score. These borrowers have no credit score because of li ... BorrowLend.com Sun, 08 Oct 2006 00:27:51 CDT http://www.borrowlend.com/FAQ/questions/113/ A credit grade is a measure of the likelihood that a borrower will repay his or her loan. We also provide the following table to lenders, which shows historical default rates by credit grade for ... BorrowLend.com Sun, 08 Oct 2006 00:30:38 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/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/130/ Before bidding on a listing, you should look at the bid history to understand how many lenders are bidding on a loan, and how much money each one has offered to put up for the loan. The bid h ... BorrowLend.com Sun, 08 Oct 2006 01:01:57 CDT http://www.borrowlend.com/FAQ/questions/131/ To bid on loan listings, you must be a registered lender, and you must transfer funds to Prosper before you can start bidding. Once your account has funds for bidding, you are ready to go! Simpl ... BorrowLend.com Sun, 08 Oct 2006 01:04:52 CDT http://www.borrowlend.com/FAQ/questions/132/ You should bid an interest rate that takes into consideration both the borrower's expected default rate and the Prosper loan servicing fee. The table below shows historical default rates by cred ... BorrowLend.com Sun, 08 Oct 2006 01:07:26 CDT http://www.borrowlend.com/FAQ/questions/134/ Because there are cases where lenders with lower minimum interest rates are preventing other lenders from participating fully in a loan, we allow lenders to be "partial winners" in a listing. T ... BorrowLend.com Sun, 08 Oct 2006 01:10:05 CDT http://www.borrowlend.com/FAQ/questions/135/ Yes, you can use the remaining available bid funds to make a new bid on any listing. BorrowLend.com Sun, 08 Oct 2006 01:11:20 CDT http://www.borrowlend.com/FAQ/questions/136/ If you are not interested in manually picking each of your bids, you can have Prosper automatically place bids on your behalf based on criteria you specify by creating a "standing order." BorrowLend.com Sun, 08 Oct 2006 01:14:38 CDT http://www.borrowlend.com/FAQ/questions/141/ Go to the "Your Account > Lending" section and click "View standing orders". You will be able to easily view all of your standing orders, and edit or cancel them. View your standing orders now. BorrowLend.com Sun, 08 Oct 2006 01:52:51 CDT http://www.borrowlend.com/FAQ/questions/142/ Go to the "Your Account > Lending" section and click "View bids". Look for bids with the type "Order." This indicates that the bid was placed by a standing order. You can always bid again on tho ... BorrowLend.com Sun, 08 Oct 2006 01:54:05 CDT http://www.borrowlend.com/FAQ/questions/143/ Yes, you can always add more bids to a listing, even if you have already bid in the past. Each of your bids will be judged separately, so it is possible that you will win some and lose some. BorrowLend.com Sun, 08 Oct 2006 01:55:23 CDT http://www.borrowlend.com/FAQ/questions/144/ You can always add more bids to a listing, so if your standing order bid is outbid but you still want to bid on a particular listing, you can always go to that listing and place a manual bid by ... BorrowLend.com Sun, 08 Oct 2006 01:56:32 CDT http://www.borrowlend.com/FAQ/questions/145/ Go to the "Your Account > Lending" section and click "View standing orders". Then click "Edit" for the standing order that you would like to make changes to. Note: The changes you make will n ... BorrowLend.com Sun, 08 Oct 2006 01:57:33 CDT http://www.borrowlend.com/FAQ/questions/146/ Yes. Go to the "Your Account > Lending" section and click "View standing orders". Then click "Pause" or "Cancel" for the standing order that you would like to stop from placing bids. Pausing a s ... BorrowLend.com Sun, 08 Oct 2006 01:59:13 CDT http://www.borrowlend.com/FAQ/questions/147/ No. Bids cannot be cancelled at any time. BorrowLend.com Sun, 08 Oct 2006 18:03:30 CDT http://www.borrowlend.com/FAQ/questions/148/ Yes. If you are waiting for funds to transfer into your Prosper account from an external account, you can create a standing order ahead of time for any amount. When the external funds hit your P ... BorrowLend.com Sun, 08 Oct 2006 02:00:56 CDT http://www.borrowlend.com/FAQ/questions/149/ Yes. By allocating an amount to lend on one of your standing orders which is higher than your current account balance, your standing order will wait for repayments to come back to your account, ... BorrowLend.com Sun, 08 Oct 2006 02:02:13 CDT http://www.borrowlend.com/FAQ/questions/150/ Yes. You can set your account preferences to block standing orders from bidding on specific groups and borrowers. BorrowLend.com Sun, 08 Oct 2006 02:04:29 CDT http://www.borrowlend.com/FAQ/questions/151/ As a lender, it is your responsibility to follow some basic lending guidelines when making decisions about whom to lend your money to: Diversify: If you place many small bids among many borrowe ... BorrowLend.com Sun, 08 Oct 2006 02:07:19 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/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/211/ Once there are enough bids to fund a loan, the interest rate is determined by the number of lenders bidding and the rates they've bid. In the example below, you can see there were four bids at t ... BorrowLend.com Sun, 08 Oct 2006 18:00:47 CDT http://www.borrowlend.com/FAQ/questions/212/ If two lenders bid the same minimum interest rate and there is only room enough for one to participate in the loan, priority for loan funding will be given to the lender who bid earliest. BorrowLend.com Sun, 08 Oct 2006 18:02:27 CDT http://www.borrowlend.com/FAQ/questions/213/ If you are signed in, the status of your bid on a particular listing can be found by going to the listing page itself. A message at the top of that page will indicate whether you are winning or ... BorrowLend.com Sun, 08 Oct 2006 18:04:34 CDT http://www.borrowlend.com/FAQ/questions/252/ If you're a lender, you might notice that you have a box on your member page called "Supported Groups." This is just a way that you, as a lender, can get more connected to the community of Prosp ... BorrowLend.com Sun, 08 Oct 2006 20:45:55 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