Comments on: Review of My First Loans with Lending Club http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/ Experience with Lending Club & Prosper.com Thu, 13 Oct 2011 20:50:20 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Personal Loan Portfolio http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/comment-page-1/#comment-2490 Personal Loan Portfolio Sun, 04 Sep 2011 22:17:08 +0000 http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/#comment-2490 David, In my opinion, Lending Club is a good deal as long as you can invest in enough loans that you can spread your risks to reduce default risk on any individual loan. David, In my opinion, Lending Club is a good deal as long as you can invest in enough loans that you can spread your risks to reduce default risk on any individual loan.

]]> By: Personal Loan Portfolio http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/comment-page-1/#comment-2489 Personal Loan Portfolio Sun, 04 Sep 2011 22:15:59 +0000 http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/#comment-2489 Thanks Joe -- I imagine that they have made some updates, but I have moved to Texas, which sadly does not allow P2P investments, so I can't update. Thanks Joe — I imagine that they have made some updates, but I have moved to Texas, which sadly does not allow P2P investments, so I can’t update.

]]> By: Personal Loan Portfolio http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/comment-page-1/#comment-2488 Personal Loan Portfolio Sun, 04 Sep 2011 22:13:31 +0000 http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/#comment-2488 Dina, you can find the CEO on the about us page on Lending Club's site http://www.lendingclub.com/public/about-us.action As for the address, it is probably around that page somewhere. If you really need it, I am sure you can find it. Dina, you can find the CEO on the about us page on Lending Club’s site http://www.lendingclub.com/public/about-us.action As for the address, it is probably around that page somewhere. If you really need it, I am sure you can find it.

]]> By: Dina Gardner http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/comment-page-1/#comment-2482 Dina Gardner Mon, 29 Aug 2011 21:43:42 +0000 http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/#comment-2482 What is the name, business address of the president/CEO etc, of Lending Club ? What is the name, business address of the president/CEO etc, of Lending Club ?

]]> By: BN http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/comment-page-1/#comment-2480 BN Thu, 25 Aug 2011 17:35:09 +0000 http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/#comment-2480 I am not so sure about the relative risks of stock market investments vice P2P. I am very happy with the performance I am receiving with Lending Club, and have pulled a lot of funds out of the market. I didn't do this out of panic. I did this out of a loss of confidence in the leaders that are involved. Wall Street banks? Yeah, right. Check out the bailouts and outright thievery that went on with the subprime disaster. Bottom line, I believe MORE in the average American with a 660 or greater credit score than I do in those that manipulate the stock market for personal gain. I'm not talking about investors or day traders. I'm talking about greedy investment bankers and Fortune 500 companies that would rather ship jobs oversees. I am not so sure about the relative risks of stock market investments vice P2P. I am very happy with the performance I am receiving with Lending Club, and have pulled a lot of funds out of the market. I didn’t do this out of panic. I did this out of a loss of confidence in the leaders that are involved. Wall Street banks? Yeah, right. Check out the bailouts and outright thievery that went on with the subprime disaster.

Bottom line, I believe MORE in the average American with a 660 or greater credit score than I do in those that manipulate the stock market for personal gain. I’m not talking about investors or day traders. I’m talking about greedy investment bankers and Fortune 500 companies that would rather ship jobs oversees.

]]> By: Joe http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/comment-page-1/#comment-2459 Joe Tue, 14 Jun 2011 17:48:37 +0000 http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/#comment-2459 This post was a long time ago but you should definitely check back with Lending Club. They have made a lot of the changes you recommended and the site is getting better all the time. This post was a long time ago but you should definitely check back with Lending Club. They have made a lot of the changes you recommended and the site is getting better all the time.

]]> By: David Weinstein http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/comment-page-1/#comment-2204 David Weinstein Tue, 09 Mar 2010 18:33:01 +0000 http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/#comment-2204 As an investment, I consider LC a 3 year CD and knowing the current CD rates, it is a great deal. The day I stop investing, the funds will be returned over the 3 year period. I also just learned that the interest reported to the IRS does not include any one loan earning less than $10.00 per year. Since this applies to most loans less than $75, my earned interets was a fraction of my actual gain. As an investment, I consider LC a 3 year CD and knowing the current CD rates, it is a great deal. The day I stop investing, the funds will be returned over the 3 year period. I also just learned that the interest reported to the IRS does not include any one loan earning less than $10.00 per year. Since this applies to most loans less than $75, my earned interets was a fraction of my actual gain.

]]> By: Jack http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/comment-page-1/#comment-2186 Jack Mon, 15 Feb 2010 18:06:44 +0000 http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/#comment-2186 Thanks for sharing your review and experiences with Lending Club. Do you have any updates to share, now that you're 2+ years into the initial loans? How is your rate of return now? Thanks for sharing your review and experiences with Lending Club. Do you have any updates to share, now that you’re 2+ years into the initial loans? How is your rate of return now?

]]> By: Lending Club lender http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/comment-page-1/#comment-1494 Lending Club lender Fri, 10 Apr 2009 19:49:52 +0000 http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/#comment-1494 I know a common complaint about Lending Club is the relatively limited pool of loans to choose from. I don't know if this is a trend or just a blip, but I've noticed the inventory of loans the over the last week or so has ballooned from 100 or so to over 200. I know a common complaint about Lending Club is the relatively limited pool of loans to choose from. I don’t know if this is a trend or just a blip, but I’ve noticed the inventory of loans the over the last week or so has ballooned from 100 or so to over 200.

]]> By: Personal Loan Portfolio http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/comment-page-1/#comment-1477 Personal Loan Portfolio Wed, 01 Apr 2009 05:13:33 +0000 http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/#comment-1477 I finally made a new post <a href="http://www.personalloanportfolio.com/490/lending-club-ira/">about the Lending Club IRA</a>. I think it is an exciting development in P2P lending. I hope to hear back from you with a guest post on your experience. You can send <a href="http://www.personalloanportfolio.com/contact-us/">a note to me via the contact form</a>. I finally made a new post about the Lending Club IRA.

I think it is an exciting development in P2P lending. I hope to hear back from you with a guest post on your experience. You can send a note to me via the contact form.

]]> By: Why the Lending Club IRA is a great idea: Reduced Volatility | Personal Loan Portfolio http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/comment-page-1/#comment-1473 Why the Lending Club IRA is a great idea: Reduced Volatility | Personal Loan Portfolio Wed, 01 Apr 2009 03:22:36 +0000 http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/#comment-1473 [...] New here? You may want to subscribe to the RSS feed or browse the site map. Thanks!I am thrilled to hear about the new Lending Club IRA account to allow peer to peer lending in an retirement account. EntrustCAMA, part of the Entrust Group, is the account administrator. I heard of the Lending Club IRA only a few weeks ago through the comments by a beta tester on my initial review of Lending Club post. [...] [...] New here? You may want to subscribe to the RSS feed or browse the site map. Thanks!I am thrilled to hear about the new Lending Club IRA account to allow peer to peer lending in an retirement account. EntrustCAMA, part of the Entrust Group, is the account administrator. I heard of the Lending Club IRA only a few weeks ago through the comments by a beta tester on my initial review of Lending Club post. [...]

]]> By: Lending Club lender http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/comment-page-1/#comment-1467 Lending Club lender Wed, 25 Mar 2009 10:42:10 +0000 http://www.personalloanportfolio.com/26/review-of-my-first-loans-with-lending-club/#comment-1467 I don't have a link yet because the program has not been offered 'officially' yet. I'm sure when it is there will be information on Lending Club's home page. Entrust's web site doesn't mention anything on the program yet either. As far as the interest is concerned, it would have to be tax deferred being in an IRA, but I will confirm that with the person in charge of the program at Lending Club and let you know if that is incorrect. I'd be happy to write a guest post after I see how the loans are performing. As far as the process of applying to the program, that was very straightforward and took maybe 10 minutes. I chose to mail a check in rather than wire funds, so it took about 10 days for my funds to become available at Lending Club. As you said, I'd be very happy with 9% too, minus all the volatility implicit in the stock market. I don’t have a link yet because the program has not been offered ‘officially’ yet. I’m sure when it is there will be information on Lending Club’s home page. Entrust’s web site doesn’t mention anything on the program yet either. As far as the interest is concerned, it would have to be tax deferred being in an IRA, but I will confirm that with the person in charge of the program at Lending Club and let you know if that is incorrect. I’d be happy to write a guest post after I see how the loans are performing. As far as the process of applying to the program, that was very straightforward and took maybe 10 minutes. I chose to mail a check in rather than wire funds, so it took about 10 days for my funds to become available at Lending Club. As you said, I’d be very happy with 9% too, minus all the volatility implicit in the stock market.

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