Made my second Lending Club peer-to-peer loan investment
I went ahead and made my second investment in a peer-to-peer loan ("note") through Lending Club. This note was for someone here in New York buying a motorcycle. The loan is for $7,700. My investment is for #25 of that note. The interest rate is 12.53%. The term of the note is 3 years. The loan grade is C1, which is a bit riskier. The borrower's credit score is in the 679-713 range.
For my next loan... Maybe I'll fund some home improvement.
I will also consider a somewhat higher-risk note in the 13% interest range.
Read about my first investment loan.