About
As of January (2014), I've invested in a Peer-to-peer lending service called Lending Club. From Wikipedia:
Lending Club is a US peer-to-peer lending company, headquartered in San Francisco, California. It was the first peer-to-peer lender to register its offerings as securities with the Securities and Exchange Commission (SEC), and to offer loan trading on a secondary market. Lending Club operates an online lending platform that enables borrowers to obtain a loan, and investors to purchase notes backed by payments made on loans. As of November 2013, Lending Club has originated over 3 billion USD in loans, and averages $7.8 million in daily loan originations.
My current goal with Lending Club is to generate at least 8% in interest from whatever capital I don't use, basically it's excess capital (non-stock, non-personal expense money). It beats allowing my money to sit in my checking account making 0%. I always invest 3-year notes (as opposed to 5-year) and I do it every day of the week. Therefore, I'll be updating my portfolio on a daily basis by providing screenshots of where my portfolio stands. Resources I use to help determine (e.g., filter setting) who I do/don't invest in are Financial Samurai and Lending Academy.
Lending Club Examples:
Pick the Loan You Want to Invest/Loan Selection
Your Portfolio (Summary)
Loanee Details
4/9/14:
Lending Club Portfolio
$725 in funding (29 notes)
$12,587.21 issued and current (431)
10.36% weighted average
2/26/14:
Lending Club Portfolio
$525 in funding (21 notes)
$8,982.89 issued and current (275 notes)
9.74% weighted average
2/11/14:
Lending Club Portfolio
$675 in funding (27 notes)
$6948.79 issued and current (189 notes)
9.35% weighted average
2/2/14
Lending Club Portfolio
$250 in funding (10 notes)
$6,350 issued and current (165 notes)
9.12% weighted average
1/28/14 (11:30PM CST)
Lending Club Portfolio
$475 in funding (14 notes)
$6,125 issued and current (158 notes)
9.08% weighted average
1/21/14 (11AM CST)
Lending Club Portfolio:
$1,375 in funding (43 notes)
$5,400 issued and current (129 notes)
9.01% weighted average -> Portfolio screenshot
1/15/14 (11PM CST)
Lending Club Portfolio:
$1,900 in funding (59 notes)
$4,225 issued and current (87 notes)
8.71% weighted average -> Portfolio screenshot
1/13/14 (11PM CST)
Lending Club Portfolio:
$2,675 in funding (59 notes)
$2,700 issued and current (53 notes)
8.47% weighted average -> Portfolio screenshot
1/10/14 (3PM CST)
Lending Club Portfolio:
$1,825 in funding (36 notes)
$2,650 issued and current (52 notes)
8.59% weighted average -> Portfolio screenshot
As of January (2014), I've invested in a Peer-to-peer lending service called Lending Club. From Wikipedia:
Lending Club is a US peer-to-peer lending company, headquartered in San Francisco, California. It was the first peer-to-peer lender to register its offerings as securities with the Securities and Exchange Commission (SEC), and to offer loan trading on a secondary market. Lending Club operates an online lending platform that enables borrowers to obtain a loan, and investors to purchase notes backed by payments made on loans. As of November 2013, Lending Club has originated over 3 billion USD in loans, and averages $7.8 million in daily loan originations.
My current goal with Lending Club is to generate at least 8% in interest from whatever capital I don't use, basically it's excess capital (non-stock, non-personal expense money). It beats allowing my money to sit in my checking account making 0%. I always invest 3-year notes (as opposed to 5-year) and I do it every day of the week. Therefore, I'll be updating my portfolio on a daily basis by providing screenshots of where my portfolio stands. Resources I use to help determine (e.g., filter setting) who I do/don't invest in are Financial Samurai and Lending Academy.
Lending Club Examples:
Pick the Loan You Want to Invest/Loan Selection
Your Portfolio (Summary)
Loanee Details
4/9/14:
Lending Club Portfolio
$725 in funding (29 notes)
$12,587.21 issued and current (431)
10.36% weighted average
2/26/14:
Lending Club Portfolio
$525 in funding (21 notes)
$8,982.89 issued and current (275 notes)
9.74% weighted average
2/11/14:
Lending Club Portfolio
$675 in funding (27 notes)
$6948.79 issued and current (189 notes)
9.35% weighted average
- My monthly expected payments are $220.04 (with $7,625 invested). I'm hoping I can get the expected monthly payments to $500 at some point in time. An extra $6,000 a year would be nice, passive income.
2/2/14
Lending Club Portfolio
$250 in funding (10 notes)
$6,350 issued and current (165 notes)
9.12% weighted average
1/28/14 (11:30PM CST)
Lending Club Portfolio
$475 in funding (14 notes)
$6,125 issued and current (158 notes)
9.08% weighted average
- For the past 3-4 days, I haven't funded a single note with my moderately aggressive filter. I hope it doesn't continue this way.
1/21/14 (11AM CST)
Lending Club Portfolio:
$1,375 in funding (43 notes)
$5,400 issued and current (129 notes)
9.01% weighted average -> Portfolio screenshot
- My weighted average is over 9% now because I've stopped investing in A-grade notes (unless the interest rate is at least 8.9%). My filter throws back B-grade (~95%) notes and I invest in a majority of them.
1/15/14 (11PM CST)
Lending Club Portfolio:
$1,900 in funding (59 notes)
$4,225 issued and current (87 notes)
8.71% weighted average -> Portfolio screenshot
- I've began investing in more B-graded notes. My filter is largely based on my more conservative filter (for buying A-graded notes), just not as stingy. My Prosper account has a handful of investments which I will list beginning tomorrow.
1/13/14 (11PM CST)
Lending Club Portfolio:
$2,675 in funding (59 notes)
$2,700 issued and current (53 notes)
8.47% weighted average -> Portfolio screenshot
1/10/14 (3PM CST)
Lending Club Portfolio:
$1,825 in funding (36 notes)
$2,650 issued and current (52 notes)
8.59% weighted average -> Portfolio screenshot