About the Author

Stephen Oakes is an experienced financial titan from New York who brings Wall Street to Main Street. Over the past 11 years, he has developed and tested the renown, Oakes Momentum System, which uses a unique constellation of technical indicators to find timely buy and sell points. He holds an M.B.A. in the United States (New York) and has studied internationally at the Reims School of Management in France.

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Prosper Q & A

March 25th, 2007 • Related • Filed Under

Straight from the Horse’s Mouth…

Who can borrow?
Any adult US resident with credit score of 520 or higher can create a listing for a loan on Prosper. After passing identity and fraud checks, borrowers can request unsecured loans from $1,000 to $25,000 at rates they select.

Who can lend?
Any adult US resident can lend money to others on Prosper. After passing Prosper’s identity and fraud checks, lenders offer money to borrowers at rates they select.

Why is this safe?
Ensuring that your data is private and secure is our highest priority. Our rigid privacy policy protects your personal information, and our secure servers make sure it’s protected from theft.

How much does it cost?
We charge borrowers a 1-2% loan origination fee, and lenders are charged a 0.5-1% annual servicing fee, depending on the borrower’s credit grade. (Source: Prosper)

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