I cannot stop talking about how much I am loving Lending Club. I initially fell in love because it was the site that gave me the best loan when I needed to consolidate my credit cards so that I could get out of debt.

After paying off my debt I decided to invest in Lending Club and even though I have had a few poorly performing loans I do not regret anything about my decision.

I am currently receiving a return of 5.14% on my investment which is more than what is available on savings accounts. I know I can get a higher rate of return by investing in the more risky loans but I have decided to stick to the low risk loans in order to preserve my investment.

Here is the breakdown of my loans at present:

-51 current and active

-20 fully paid

-0 late 16 to 30 days

-2 late 31 to 120 days

-4 charged off

I feel really blessed that out of all my loans I have only had 4 total that were charged off and those were all the minimum investment of $25 each.

I only invest $25 per loan to spread out my risk when possible, although I did invest more than that in TWO loans because they were people that I personally knew. One of those loans has been fully paid off and the other one is only four months old but I have confidence in it being repaid.

I am receiving slightly over $25 in repayments on average every month, so I will continue to fund a new loan for $25 every month. I withdraw the money from Lending Club on a weekly basis because the money does not earn interest while it is sitting in the account. I track my receipts on a spreadsheet and every month that I collect at least $25 I create a new loan the following month.

How is YOUR investment doing right now?

If you have not already invested in or borrowed from Lending Club you can use one of my referral links to sign up. You will get a bonus for signing up and I will earn a referral bonus so we BOTH win!!!