Tuesday, August 04, 2009

My 7th Lending Club investment loan payment completed posting

The 7th (of eight) of my Lending Club investment loans had its first payment from last week (7/28) complete posting with all fields updated today. This one has a rate of 16.00%. My Net Annualized Return is now reported as 12.90%. Everything is fine.

That leaves only my 8th investment loan, which will have its first payment due on Sunday, August 9th.

And then I have a second payment for my first investment loan due on August 12th.

So far, I have gotten $4.00 of my initial $200 principal back and available for reinvestment. And I have received $1.82 in interest and then there is another $1.17 in accrued interest. So, I have $5.75 in cash kicked off after only one month of payments (with one payment still remaining.) This is simply a very modest experiment. The numbers scale for a more realistic size investment.

All is fine, so far. The experiment has been successful so far, but I have more observations and experiments to complete.

I am actually itching to do another round of investment, probably using the LendingMatch feature. I will try to be disciplined and wait until September.

I also want to take a look at the trading platform to get a sense of what the secondary market for these loans is like, not that I intend to sell any of them in the foreseeable future.

-- Jack Krupansky


At 8:30 PM EDT , Anonymous Alexandra said...

Find out how to get a loan even with bad credit.


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