Comments on: Peer-to-Peer Lending With Pertuity Direct http://www.fivecentnickel.com/2009/05/14/peer-to-peer-lending-with-pertuity-direct/ personal finance tips, tricks, and commentary Tue, 14 Feb 2012 00:06:17 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Melanie http://www.fivecentnickel.com/2009/05/14/peer-to-peer-lending-with-pertuity-direct/comment-page-1/#comment-132253 Melanie Mon, 08 Jun 2009 16:50:24 +0000 http://www.fivecentnickel.com/?p=3362#comment-132253 As I do not have a small fortune in cash and "certain" assets, I don't qualify for LendingClub. From what I hear, if Prosper ever rises from the ashes (doubtful), their plan is to follow LendingClub's lead on financial requirements. I mean, it's not like I want to invest ALL of my money in this. I just want a variety of investment options aside from the usual (which seems to be the friend of few right now anyway). I signed up for Prosper literally the day before the quiet period started. Maybe I'll get grandfathered in? HA! I don't like that Pertuity does not seem to give much lender info on their site. I've learned more about their requirements from this review and other blogs and reviews than I did from their website. They are great at marketing to borrowers though. Fun, animated graphics and everything. WOO! I like the 'mutual fund' type idea. As an investor with limited funds to invest (at least, from LendingClub's standpoint), this can be a good start if I want to choose the P2P lending route as a type of investing. I would like to know more about the Pertuity Bucks thing they do. Lenders get some of these for free at sign up and they can give them to borrowers after reading their stories and such (I guess this makes it more p2p without the risk of investing directly in single loans). The 'bucks' given to a borrower are then applied to their loan principal. In other words, lenders can use these bucks to pay off part of the principal balance for a borrow they see fit. Seems kinda cool, but I'm not sure if/how lenders can earn more of these 'bucks' to give to borrowers. I wouldn't want to BUY these bucks unless it was associated with some non-profit or something and I could count it as charitable contributions for tax purposes. After all, these are loans, not grants. I like the p2p lending idea because it can be people helping people, but lets not forget I'm in it for the money in the end. I like that they have strict restrictions for borrowers as far as who they choose to lend to (660 FICO or higher). That' lowers the risk overall. I'm always pretty wordy with these things. If anyone has found more information on this, I know I'D love to hear it. As I do not have a small fortune in cash and “certain” assets, I don’t qualify for LendingClub. From what I hear, if Prosper ever rises from the ashes (doubtful), their plan is to follow LendingClub’s lead on financial requirements. I mean, it’s not like I want to invest ALL of my money in this. I just want a variety of investment options aside from the usual (which seems to be the friend of few right now anyway). I signed up for Prosper literally the day before the quiet period started. Maybe I’ll get grandfathered in? HA!

I don’t like that Pertuity does not seem to give much lender info on their site. I’ve learned more about their requirements from this review and other blogs and reviews than I did from their website. They are great at marketing to borrowers though. Fun, animated graphics and everything. WOO!

I like the ‘mutual fund’ type idea. As an investor with limited funds to invest (at least, from LendingClub’s standpoint), this can be a good start if I want to choose the P2P lending route as a type of investing.

I would like to know more about the Pertuity Bucks thing they do. Lenders get some of these for free at sign up and they can give them to borrowers after reading their stories and such (I guess this makes it more p2p without the risk of investing directly in single loans). The ‘bucks’ given to a borrower are then applied to their loan principal. In other words, lenders can use these bucks to pay off part of the principal balance for a borrow they see fit. Seems kinda cool, but I’m not sure if/how lenders can earn more of these ‘bucks’ to give to borrowers. I wouldn’t want to BUY these bucks unless it was associated with some non-profit or something and I could count it as charitable contributions for tax purposes. After all, these are loans, not grants. I like the p2p lending idea because it can be people helping people, but lets not forget I’m in it for the money in the end.

I like that they have strict restrictions for borrowers as far as who they choose to lend to (660 FICO or higher). That’ lowers the risk overall.

I’m always pretty wordy with these things. If anyone has found more information on this, I know I’D love to hear it.

]]> By: Nickel http://www.fivecentnickel.com/2009/05/14/peer-to-peer-lending-with-pertuity-direct/comment-page-1/#comment-131630 Nickel Sun, 17 May 2009 22:18:46 +0000 http://www.fivecentnickel.com/?p=3362#comment-131630 Manshu: No, you're not diversified in an asset-type sense, but you <i>are</i> diversified across different lenders. If everything goes kaput, then you're screwed. But spreading your money around protects you from investing in a single loan and having it fail. Manshu: No, you’re not diversified in an asset-type sense, but you are diversified across different lenders. If everything goes kaput, then you’re screwed. But spreading your money around protects you from investing in a single loan and having it fail.

]]> By: Manshu http://www.fivecentnickel.com/2009/05/14/peer-to-peer-lending-with-pertuity-direct/comment-page-1/#comment-131628 Manshu Sun, 17 May 2009 19:07:42 +0000 http://www.fivecentnickel.com/?p=3362#comment-131628 Loaning out money and owning a pool of loans without knowing where the money is going sounds a bit too risky to me. Just because the loan is spread across a number of borrowers doesn't mean you are diversified. Recent history teaches us that. Loaning out money and owning a pool of loans without knowing where the money is going sounds a bit too risky to me. Just because the loan is spread across a number of borrowers doesn’t mean you are diversified. Recent history teaches us that.

]]> By: Matt http://www.fivecentnickel.com/2009/05/14/peer-to-peer-lending-with-pertuity-direct/comment-page-1/#comment-131551 Matt Thu, 14 May 2009 19:07:07 +0000 http://www.fivecentnickel.com/?p=3362#comment-131551 This is interesting. I'll have to investigate it more. I currently live in a state that does not allow investing in LendingClub, so this is a good alternative in the meantime. This is interesting. I’ll have to investigate it more. I currently live in a state that does not allow investing in LendingClub, so this is a good alternative in the meantime.

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