NuBeginnings

I just read a post on the forums in that HollowOak quoted a 2002 business article referring to statups.

Well 2002 is the year I started my company. A garden center. I worked all winter building the arbor and display tables and by early spring I purchased a register and 300.00 worth of marigolds.

My first customer came in and bought them all, so I used the money and doubled the quantity and my nursery thrived from there. I enjoyed it remember getting tested by "Master Gardners" they will try to trick you with Latin names for plants and I'd fire back the common name.

As my nursery grew I hired help and then started landscaping. My company went down hill and though I kept saying I could fix the problem , I hadn't come to terms with what the problenm was,  In a nut shell, no one cares about your company the way that you do. So jobs started taking longer and longer the employee WAGES killed me. Keeping honest with the IRS was a priority. Believe me when I say, the little guy won't survive.

So back to HollowOaks post where he posted by year 5 only 2 of the 7 startups would survive. And today I don't want to say I've failed, but that I have put my dream to rest. It has taken a toll on my family and it would be extremely selfish on my part to keep going in this direction.

I really don't have a clue where life will take me and my family next, I just know I need to get on a path leading to a solution. I'm not sorry i ended up as a statistic, I am sorry however, that I let my children down.

Bev

Personally it will be one year for me on April 28. and my group will be one year old on May3.

Prosper has been through a number of changes, beneficial and many superficial.

It would be nice for Prosper to let us now more regading how difficult some of the requested changes may be to put a better timetable on things for us.

The defaulted loans are the biggest concern and in forums you can see talk of skewed numbers regarding the actual default rate.

Perhaps Prosper can catagorize an update. How many loans are in bankruptcy vs. late and in collections and how many never even made the first payment.

Group structure is another big concern. Prosper is currently gathering feedback and ideas for a significant change in the next three months. the number of groups still out ranks the number of active listings 2-1.

I don't know if it is tax season or what but the # of group lates has reached an all tiime high in NuBeginnings.

4 <15

2 late

1 3+ months

1 payoff in progress

63 loans funded total 

What have I done as a group leader. I sent out individual e-mails asking for a heads up and did they need any help

Yeasterday April 10th I did an "ALL" member e-mail, and basically heard back from members who are either just lenders or have never received a loan.

so as of todays date that is 7/63 loans, What is sad abouut this is those loans have been paying for months. The 3+ loan is a chapter 13 BK the two lates won't respond.

The less than 15's I've heard from 2.

I realize life hands us a lemon every once in a while but for everyone's sake I am holding the borrowers responsible for getting back on track.

Bev