Wednesday, June 10, 2009

My first Lending Club peer-to-peer loan investment is now fully funded

The first Lending Club peer-to-peer (P2P) loan ("note") that I invested in yesterday is now fully funded, closed, and "issued." It was only 60% funded when I invested yesterday, but things move fast on Lending Club. This loan ("note") is for $10,000 intended for credit card refinancing. It is a low-risk loan (grade A5) with an interest rate of 9.63%. The first payment (interest only) is due on July 17, 2009.

I am still considering investing in another one or two loans in the very near future to round out my initial portfolio.

-- Jack Krupansky

1 Comments:

At 12:09 PM EDT , Anonymous Anonymous said...

i've had a lending club for about 3 months now, since april 1st. I have accumulated about 7 notes, with an average interest rate of 10.89. I did only a's at first, but then stretched my risk apetite. One thing to note, is that when they take your service fee, it accumulates to a lot more than 1%, its about 1.25% for me. So far, since its just pennies at this moment, I haven't called them yet, but once I accumlate a dollar worth of service fees, I will call them on it!

Good Luck!

 

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