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Lending Club Update: April 2012
It is once again time to check in on my Lending Club loans and tell you how my investment is doing. I currently have a total of 83 loans and they are doing quite well.
I was originally a borrower at Lending Club and after a good experience I decided that I could lend money as well. I generally invest the minimum of $25 into each loan (with just a few exceptions) and I am now able to fund a new loan every month with the proceeds from loans that are being repaid.
Here is the breakdown of my loans at present:
- 1 in funding
- 51 current and active
- 24 fully paid
- 1 late 61-30 days
- 2 late 31-120 days
- 0 default
- 4 charged off
Once again I must say that I am very happy that I only have four loans that have gone totally bad so far and I am getting a good return on my investment.
If you have not already done so you still have time to sign up to be an investor or a borrower at the site and I would really appreciate if you would use one of my referral links. You can click on the referral link in this post or use any of the ones on the site and I will get a bonus and so will you!!!!
Of course you can always go straight to the site and sign up on your own if you are not comfortable using my referrals…in any case go over and check out the peer to peer lending world and make it easier for someone else to get out of debt.