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 Update #1

I continue to be a fan of Lending Club and plan on increasing my investing with the site. Too date, none of my 11 loans have EVER been late (much different from Prosper where almost 40% of my loans have DEFAULTED). Here are my lending parameters for Lending Club:

Rates: A - D
Credit Score: 660+
DTI Ratio: <10%
Delinquencies: 0
Funding status: 75% and higher
Loan Amount: $10,000 or less

These parameters have provided me with 0 defaults and a 12% return so far. I will update this blog over the course of 2009 with my lending progress.