One great thing about peer-to-peer lending is the amazing variety of “peers” you come across. People have tons of reasons for needing to borrow money, and these are some of my favorites. These are the titles of actual Prosper listings from the past couple months.
Debt Consolidation: Anything Worth Doing is Worth Learning How to Spell:
Getting out debit..
consiladte date & home improvement
Jess Debt Consolodation
Consoladate Credit Cards
Planes, Trains and Automobiles:
Funds for a dependable motorcycle (sounds like he’s been burned before)
Looking to buy a bike
Heavy Duty Truck
Purchase of a sailboat
Fund for a motorcycle
Eliot’s First Car
Purchase a new Van
Would like to buy a trailer.
To Buy Mobile Home
Some Are Professionally Vague:
Large purchase (of what?)
Alfonso2012 (one of my personal faves)
Legal (uh oh)
While Others Are Very (and sometimes painfully) Specific:
Building goat barn
Corrective Jaw Surgery
Custody Defense and Countersuit
Kaplan Classes for LSAT exam
New House Lawn Equipment
New Covered Back Porch
Build a Yurt
This loan is for major dental work.
Ink and Toner
Unexpectedly large tax burdan.
Seed Money for Start-Ups:
Start Concrete Technology Business
Great guy needs loan for business (well hey if he’s a great guy…)
Start a vending machine business
Launching a revolutionary product
Frost Bite Frozen Yogurt
starting nee business
Purchase of busines
Self Serve Frozen Yogurt Start Up
Start Poultry Business
Purchase Camel For Business
Renovations for Dog Day Care
Apparently entrepreneurs can’t be bothered with spell-check either.
Stuff You Maybe Shouldn’t Be Borrowing Money at 15-30% For:
Disney Cruise (not just any cruise, but a Disney cruise)
Egypt Vacation (maybe not the most responsible thing do to?)
Funding My Trading Acccout
Wedding Rings Fund
Seed Money for Day Trading (oh dear)
It’s All in the Family:
Help my cat!!!
Graduation Cruise for Sister
I want to help my son
Helping Real People:
Recovering from a Scam
Earthquakes! Fix Foundation
Help Free a Slave from Old Debt
Save My Kitchen!
And the Best One:
Help me live the american dream
I think the moral of the story is to put a little effort into your loan title. Lenders really do read them and make snap judgments about you and your likelihood to pay it back.