Lending Club Update #2

Back on April 14th 2009, I posted an update on my P2P Lending with Lending Club. So far I have funded 116 loans of which 107 are issued and current, 2 are Late 31-120 days, 4 have been fully paid, and 3 have defaulted. Overall, very good performance compared to my previous Prosper account. My monthly income is now approaching ~$85 a month. My return on my portfolio is currently 12.52%. I recommend anyone looking to generate an alternative income stream to take a look at P2P Lending and Lending Club.

Friends of Lending Club Receive $64.62 to invest this Holiday Season

Anyone want $64.62 for FREE?! For the remainder of 2009, Lending Club will give each investor I refer $64.62 to start peer investing. All you have to do is open an account to receive the money. Why $64.62? Banks made $6.462 BILLION in profits last quarter and Lending Club doubts you, your friends, your family or colleagues got a piece of that action. Check it out.

Free $25 for joining Lending Club!

Get a free 25$ for starting a Lending Club account as a lender. New Investors Get $25 to Invest in Lending Club notes. With average net annualized returns of 9.66% it's a great time to join Lending Club! I am currently earning net annualized return of 12.31% on my loans! Check it out here: https://www.lendingclub.com/invite/invite.action Type in this referral code when registering: Prezman615

Lending Club

There is new Peer-to-Peer lending site up and running now called Lending Club. It works similar to Prosper. According to their site, on average, you can earn 12.3% returns as a lender, and borrow money for as low 7.62% if you have a stellar credit. You can bid on loans in increments as little as 25$, or use 500$ and have them create a portfolio for you based on your risk aversion. I have been using Prosper for almost a year now so I'm going to try this site and see how it is.