I have not written about my Lending Club experiment in a while, and hearing their name regularly at the Financial Blogger’s Conference over the weekend inspired me to give you all an update.
In my time with Lending Club so far, I have made 19 investments in $25 increments. Of those, four have been completely paid off, fourteen are outstanding and current, and one is in the funding process. None have defaulted, though I did have one scare that has since come current.
The more I use Lending Club, the more I appreciate what peer to peer lending has to offer. My average annual return has been 9.89%. I seriously suggest you check it out. I would not put all of my eggs in one basket and I would work hard to find diverse lending opportunities, but I would not overlook this blooming industry.
As a bonus, each reader who signs up for Lending Club investing through this link is directly supporting my efforts to keep going at Narrow Bridge Finance.
If you want to understand how you can get such a high return, check out my old post on how you can make money like a bank.
As always, you can contact me in the comment page or comments below if you have any questions. If you are already on Lending Club, how has your experience been so far? Please share in the comments.