Comments on: Lending Club – August 2009 Performance

By: Chris C

Chris C — Tue, 29 Sep 2009 18:40:44 +0000

@Anon

I’m living in one of the states that are not listed as allowed to lend…yet I have been investing in notes with no issues as of yet.

I’m not sure what the big deal is. I’ve been investing $25 every payday (every two weeks). I’m still a new lender and have only recently started investing in the last month. No net annualized return yet, but I’ll keep you updated.

By: Financial Samurai

Financial Samurai — Sun, 20 Sep 2009 03:49:19 +0000

Probably best to just write off the bad loan. There are a lot of deadbeats out there, and you’re bound to encounter one with your program. Let us know how it goes, and whether they employ men with baseball bats to collect!

By: Lee

Lee — Sat, 19 Sep 2009 18:53:30 +0000

It’s impressive how well TLC has held up in the current climate. I think the next 18 months will be interesting to watch.

I’m doing well on my Zopa lending (UK TLC equivalent) at the moment, but time will tell how long that continues…

By: Noadi

Noadi — Sat, 19 Sep 2009 01:24:29 +0000

I just started using LC and so far I like it. I’ll probably never have as large a portfolio as you have, just don’t have the money for that but adding another $25 every month or two will add up fast.

By: Anon

Anon — Fri, 18 Sep 2009 23:02:43 +0000

I’m (mostly) financially responsible, and I’d like to try a small amount of money with LendingClub. I understand that a bunch of states’ citizens are not allowed to participate, and I live in one of those states.

My question: can I be a lender on LC anyway? I mean, I’m just loaning money to a few hundred of my closest friends right? Whose laws would I be breaking? Does LC actually enforce the state restrictions, or should I use my parents address to get around it (they live in an allowed state).

I absolutely understand the risks of LC — the amount invested would be no more than 2-5% of my total investments.

By: Matt Jabs

Matt Jabs — Fri, 18 Sep 2009 17:51:41 +0000

There you have it ladies and gentlemen. I am officially NOT a deadbeat!

Congrats on the great return Nickel. It looks like Lending Club has been a very positive experience from both the lender side and the borrower point-of-view as I too am very happy with my LC borrowing experience thus far.