Does she look like a good risk to you?22 year old Caley from Missouri has a grade D credit rating, a 49% debt to income ratio, a recent cosmetology school diploma and an even newer personal loan... Funded by 123 individual micro lenders, who have taken a stake in her future.
She filled out an online application at prosper.com.
The $3,650.00 she received has essentially refinanced her outstanding balance on 5 credit cards. Her terms: 13.95% over 3 years, APR 14.66%, monthly payment $124.66.
"I am told that I have an endearing personality and a big heart," Caley said in describing her previous 4 1/2 years as a full time waitress... An important factor because cosmeticians make the bulk of their income in tips as well.
A study by researchers at Rice University and the University of Washington concluded looks count in lending, and ugly may be the new untrustworthy. But... She looks good and good for it.
Earthquake, tsunami,
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