Compounding interest, here I come!

I logged into my Prosper account this morning and saw that my cash balance has finally surpassed the $50 minimum bid mark at $51.34. It took a bit, but I finally received enough in repayments to bid out for a new loan without adding more money from my checking account. So right away I searched for some loans that fits my criteria.

I found a couple but eventually decided on a business that needed $6,500.00 to change all their warehouse light bulbs to fluorescent fixtures. Their old fixtures were 400watt bulbs, so they foresee at least a savings of $2,000.00 in their electricity bills. His DTI was average at 34%, and his income looked sufficient enough to support the loan. He was also at a C credit grade, so everything seemed fine. What was icing was that the loan was 3 hours from ending and it was still at 35%. I bidded a minimum of 21.99% to be conservative and was rewarded in the end. The loan ended at 25.00%, which should bump up my portfolio's average of 21.xx%. Pretty exciting.

So once this loan is approved by Prosper, I'll have 6 loans with a total original principal loaned out at $300.00. My personal investment, $250.00. Current value of portfolio is at $268+. I'm hoping to add some more funds in there to fund more loans and increase this area of investment. But I'm pretty satisfied at how fast I was able to fund a loan from repayments (It helped that one of the loans is paying faster than the 3-year plan). I should be able to fund another one soon too as this most recent borrower is looking to pay back the loan early as well.

Nothing much happening in the other areas. ING is growing slowly but steadily. Market's pretty rough right now, so nothing happening with Sharebuilder. Just the regular investment amounts.