According to the liner notes in the Prince compilation album The Hits / The B-Sides, this song was inspired by Patrice Rushen, an R&B singer/songwriter ("Forget Me Nots") who did some work programming synthesizers on Prince's debut album For You. Apparently, Prince was smitten, but nothing came of it. He offered both "I Wanna Be Your Lover" and "I Feel For You" to Rushen, but she turned them down.
This was the first single from Prince's second album. It was his breakout hit, going to #1 on the R&B chart and #11 on the Hot 100. The song became a live favorite and a staple of his early setlists.
Prince is rather humble in this song, explaining off the top that he's not a rich man, but he's the guy who won't let her down. Unlike his first single, "Soft and Wet," this one is far more innocent and radio-friendly. This being Prince, there is still some sexual double meaning, as he sings, "I wanna be the only one you come for."
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