Friday, February 05, 2010

Invested in three more loans with Lending Club

I just selected three more investments in consumer loans with Lending Club to finish deploying the fresh cash that I transferred to Lending Club just under a week ago. I made nine investments yesterday, so this brings my latest batch up to an even dozen investments. The average interest rate for these three is 17.81%. That is a bit high and a little riskier, but my overall average rate will be around 15%, which is reasonably conservative.

Two of the loans I invested in yesterday have already reached 100% funding and have already been issued since they had previously been approved in terms of income verification. All of my remaining "In Funding" investments have already gotten income verification approval, so I just need to wait for the loans to reach 100% funding by investors.

-- Jack Krupansky

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