Prosper loan approval question ????

[cuti]

  im apply for Prosper loan this morning , and got an email later today mention about 100% funded , is it i got approved ? and what to do next ?? and what i waiting for ??? sorry for asking too much , this is my first time do this ... thanks guys .

[Anonymous]

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@cuti wrote:

  im apply for Prosper loan this morning , and got an email later today mention about 100% funded , is it i got approved ? and what to do next ?? and what i waiting for ??? sorry for asking too much , this is my first time do this ... thanks guys .

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Yes... It means it is approved.  What stage are you in the verification process?  If it says 3 and it is green then the money will be in your account before Firday.  

[Anonymous]

I applied on a Frdaiy morning and had my momey in my checking out on the following Tuesday morning. Dont sweat it. You should see it in your account in a day or 2   

[Anonymous]

It means that someone (person or institution) gave you the amount you asked for. It does not mean the loan was initiated. Now you have to pass verification process. Small amount= little extra verification, bigger amount = more extra verification. Even if you are at stage 3 it may take days until the final approval or you can still be dined. I am in exactly the same boat and had long conversation with one of their customer service representatives. He explained everything in details.

 I asked for $20000 for credit card consolidation on Friday evening. (My Fico exp. 698 with no late payments but very high utalisation, 75%) They gave me C grade with Prosper score 7 and 14.5% interest for 5 years( I currently pay 24.5% on my cc so good deal). The loan was posted on Monday morning and 100% funded in less than 10 min with status W (whole) which means that 1 investor decided to put the whole amount in instead of few investing smaller amounts. It went to stage 3 immediately after funding. Right after that I got an email asking for last year's tax document, most recent pay stub and utility bill. Submitted all asking document minus the utility bill( we only have ConEd and cable/ Internet and they are on my husban's name). Last night someone called and left a message wanting to speak with me about my income. Called back but she was already gone for the day. Will call her this morning and see what her questions will be. 

In other words even you are 100% funded and stage 3 verification if the documents they asked for do not pass review there is a good chance that is not going to be a loan. Yes, they say that most of the stage 3 loans are issued but that doesn't mean all. 

God luck to you and me and let's hope for the best

[cuti]

thanks alot for all the info guys , Fashionis212 yeah they only ask me for void check and utilities bill , maybe i only ask for small loan (5000) best of luck to you too.

[Anonymous]

Cuti,

Did you get your loan finalized? Mine still pending verification of the requested documents, it has been over 3 business days:

[cuti]

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@Anonymous wrote:

Cuti,

Did you get your loan finalized? Mine still pending verification of the requested documents, it has been over 3 business days:

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yeah just have the money in my bank , good luck with you . best of luck .