First Lending Club payment still "Processing"

Since I posted last night about the first payment on my first Lending Club investment loan which was due yesterday, there has been no change in status, other than that accrued interest is a day higher.

In all honesty, I did not expect much to happen yesterday or even overnight since yesterday was not a business day.

I also expect that it could take several days for the proceeds from the ACH debit of the borrowers bank account to be finally posted to my Lending Club account.

In short, everything is fine so far.

So, the wait for final posting of the payment continues.

I was hoping that I could calculate the effective interest rate of this loan (net of any fees to Lending Club), but I am not sure that the initial payment period was a full month. I may need to wait until the second payment to be sure. Also, until the payment posts and displays the actual interest for the payment period, I am not sure whether to use the accrued interest reported today or yesterday.

-- Jack Krupansky