Made my fourth Lending Club peer-to-peer loan investment
I just made my fourth investment in a peer-to-peer loan ("note") through Lending Club. This note was for someone to remodel their kitchen and bathroom. The loan is for $5,000. My investment is for $25 of that note. The interest rate is 9.32%. The term of the note is 3 years. The loan grade is A4, which is low risk. The borrower's credit score is in the 714-749 range. The note is still "In funding", with 13 days left in its funding period, so it is possible that it does not get fully funded and I get my investment back, but it is already 43% funded in just one day.
I may do another one or two investments in the very near future, but my initial four investments cover a wide range, from two low risk notes, to one moderate risk and one higher risk note, with a variety of purposes, including educational expenses, a motorcycle, home improvement, and debt consolidation.
That's enough for one day!
Read about my third investment loan.