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Rate Ladder is promoting a P2P loan from the blogger “The Penny Saved.”

See the loan request.

Honestly, the interest rate of 16% is rather poor considering that the Prosper lending guidance is a negative 18% due to the C credit rating.

Normally, I won’t even consider anything with a lending guidance that takes the estimated rate of return below 6%. After all, I am in P2P lending to earn higher returns. However, it is occasionally the lower credit score loans that can offer a higher return if you have good reason to believe that the person will pay back the loan. Everyone using only standing bid orders will miss out on a loan like this, so it may offer an outsize return.

I decided to check out some posts at the website to see how this blogger thinks:

• Positive: A good understanding of supply and demand is a good thing. Penny understands energy market economics which is a good thing. Raving about oil companies charging high prices would be a bad thing.
• Slightly negative: How Penny can add one to his scoring system make 1 go to 2 and 0 go to 1.5 at the same time is a complete mystery. See the scoring jump from item one to item two and then not move between item two and three. It is just so wrong that I must be missing the scoring explanation.
  • Item #1: “Score: Not Hypocrite view 1, Hypocrite view 0″
  • Item #2: “Score: Not Hypocrite view 2, Hypocrite view 1 .5″
  • Item #3: “Score: Not Hypocrite view 2, Hypocrite view 1.5 “

  I even had to double check what I posted is correct. Yes, that is right and no the scoring system does not make any sense.

• Positive: Researching purchases in great detail is a good thing. It likely means that he is not taking this loan lightly.
• Neutral: Reasonably good investment tips although I am not sure what “Bear Stears” are. I think a Bear Steer might be a bear sans gonads, but I am not certain. I have been know to make typos too, so I won’t hold this one against you.

I am not quite certain about the loan request yet, so I decided to request the answer to a few questions before putting my money on the line. I sent a question asking Penny for details on the mortgage loan considering that he is a home owner and we are in the midst of a nasty mortgage/credit crisis. Secondly, I asked about how soon he plans to pay off the loan since the long is listed in the description for improving the borrower’s credit score. If you have been reading Personal Loan Portfolio for a while, you know that I hate early P2P loan payoffs.

I’ll let you know later the answer to my questions and if I bid or not. See the loan request.

…..

Bored of P2P Lending?

• Go find a little inspiration by watching Oprah’s Stanford Graduation Speech. The video helped out my wife with her graduate class.
• I am curious to see how this fresh google search functionality is going to impact search results. Long tail search terms might have just become even more accessible to reach traffic.