1) Loan amount: Prosper borrower listings with low loan amounts are funded more often than listings with high loan amounts.
2) Interest rate: Increasing your starting interest rate may:
a) attract more bids from lenders
b) drive your interest rate down, often to a rate lower than you originally planned to pay.
Remember you don't have to take the loan if you don't like the rate.
3) Personal photo: Prosper Borrower listings with personal photos are much more likely to fund.
4) Get friends and family to bid on your listing: If your friends are willing to bid on your loan, investors are more likely to do so too.
Recruit your friends and family to bid on your loan. Prosper friends who bid on your borrower listing can also write a recommendation for you.
5) Tell your story and spell check your work: Include any personal information in your description that will reassure lenders of your ability and willingness to make monthly payments. Include an explanation of how you plan to use the loan. If you have public records, delinquencies or a high revolving credit balance, explaining these will make lenders feel more informed and may result in more lender bids on your listing.
6) Answer questions from lenders: Listings that address lenders' questions promptly and clearly are more likely to be fully funded.
7) Advertise your listing: Promote your listing by posting links to your listing on your Blog, MySpace and Facebook. You'll be amazed at how your friends will rally to support you.
