Comments on: Get a $25 Bonus from Lending Club http://www.fivecentnickel.com/2009/08/26/get-a-25-bonus-from-lending-club/ personal finance tips, tricks, and commentary Mon, 13 Feb 2012 18:22:18 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Brandon http://www.fivecentnickel.com/2009/08/26/get-a-25-bonus-from-lending-club/comment-page-1/#comment-134545 Brandon Sat, 29 Aug 2009 12:20:16 +0000 http://www.fivecentnickel.com/?p=3523#comment-134545 Just in case you were wondering, no you cannot immediately withdraw the $25 to your bank account if you do not want to really join LC. It had a note saying the funds were 'locked' in the account for the time being. That said, I decided just to go for it and try to fund one loan. I figured I'd get the free money eventually and it would be fun to help someone out at no direct risk to me. Therefore, I tried to join a loan that was for someone's 'dream wedding'. Well for one reason or another, the loan was cancelled a couple days later. After this point my funds were unlocked and able to be transferred out. So, best case scenario, you can get your money out in a few days. Otherwise, you might have to wait a couple years unless you resell your note on the secondary market or the person defaults. Either way, it is no loss. Just in case you were wondering, no you cannot immediately withdraw the $25 to your bank account if you do not want to really join LC. It had a note saying the funds were ‘locked’ in the account for the time being. That said, I decided just to go for it and try to fund one loan. I figured I’d get the free money eventually and it would be fun to help someone out at no direct risk to me. Therefore, I tried to join a loan that was for someone’s ‘dream wedding’. Well for one reason or another, the loan was cancelled a couple days later. After this point my funds were unlocked and able to be transferred out. So, best case scenario, you can get your money out in a few days. Otherwise, you might have to wait a couple years unless you resell your note on the secondary market or the person defaults. Either way, it is no loss.

]]> By: rsconner http://www.fivecentnickel.com/2009/08/26/get-a-25-bonus-from-lending-club/comment-page-1/#comment-134472 rsconner Thu, 27 Aug 2009 11:40:42 +0000 http://www.fivecentnickel.com/?p=3523#comment-134472 To #2...or what??? To #2…or what???

]]> By: RB @ Financial Samurai http://www.fivecentnickel.com/2009/08/26/get-a-25-bonus-from-lending-club/comment-page-1/#comment-134467 RB @ Financial Samurai Thu, 27 Aug 2009 04:37:07 +0000 http://www.fivecentnickel.com/?p=3523#comment-134467 Hey Nickel - Is this Lending Club really working out for you? I've read so many horror stories. Is there a maximum dollar limit you'd be willing to lend out? I'm just curious given if banks are failing around us left and right, what makes us think we can do better? RB Hey Nickel – Is this Lending Club really working out for you? I’ve read so many horror stories. Is there a maximum dollar limit you’d be willing to lend out? I’m just curious given if banks are failing around us left and right, what makes us think we can do better?

RB

]]> By: Nickel http://www.fivecentnickel.com/2009/08/26/get-a-25-bonus-from-lending-club/comment-page-1/#comment-134452 Nickel Wed, 26 Aug 2009 20:56:30 +0000 http://www.fivecentnickel.com/?p=3523#comment-134452 Lysle: Correct. As of right now, here is a list of states in which you can become a Lending Club lender: California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Louisiana, Maine, Minnesota, Mississippi, Montana, New Hampshire, Nevada, New York, Rhode Island, South Carolina, South Dakota, Utah, Virginia, Washington, Wisconsin, West Virginia, and Wyoming If you do not live in one of these states, you can't buy notes directly, but you *can* buy them on the secondary market. Lysle: Correct. As of right now, here is a list of states in which you can become a Lending Club lender:

California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Louisiana, Maine, Minnesota, Mississippi, Montana, New Hampshire, Nevada, New York, Rhode Island, South Carolina, South Dakota, Utah, Virginia, Washington, Wisconsin, West Virginia, and Wyoming

If you do not live in one of these states, you can’t buy notes directly, but you *can* buy them on the secondary market.

]]> By: Lysle http://www.fivecentnickel.com/2009/08/26/get-a-25-bonus-from-lending-club/comment-page-1/#comment-134451 Lysle Wed, 26 Aug 2009 20:53:30 +0000 http://www.fivecentnickel.com/?p=3523#comment-134451 I found out from the last time Nickel posted this and going through the Lending Club sign up process that Lending Club does not allow lending for residents of Alabama. Nor does Prosper.com. I found out from the last time Nickel posted this and going through the Lending Club sign up process that Lending Club does not allow lending for residents of Alabama. Nor does Prosper.com.

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