Questions tagged [lending-club]

Questions about the US Based company Lending Club.

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3 answers
2k views

Why would interest payment be nearly double that of principal on a LendingClub loan

A friend of mine took a loan from LendingClub last year so as to pay off some credit cards and other debt and to have just a single payment to make each month. Admittedly the interest rate offered by ...
user100487's user avatar
3 votes
1 answer
663 views

Does LendingClub's quick screening impact credit score?

I'm new to the US and trying to get a loan for buying a car. I know it's hard to get a loan without credit history, but I just clicked around. I typed some information from the homepage of ...
Jeffrey Zhao's user avatar
1 vote
0 answers
299 views

Calculate Months Until Loan Break-Even (Lender Perspective)

I'm invested in LendingClub and I want to take a loan and be able to calculate the date that I would break even. I want to know the date when my investment (note amount) equals the total payments ...
Clete2's user avatar
  • 111
0 votes
1 answer
187 views

Lending Club - Interest rate and interest received compared with total payments discrepancy?

I have a Loaner's Lending Club account. There seems to be a discrepancy between some of the numbers on my account (the discrepancy would be in my favor, I just want to know why they are the way they ...
Jenny Shoars's user avatar
2 votes
1 answer
1k views

Lending Club accredited investor verification

I'm an undergraduate student with some money made from summer jobs, the few loans that I have are all subsidized so I'm not paying any interest. I'm looking to invest some of my savings into something ...
Throsby's user avatar
  • 121
2 votes
1 answer
194 views

Peer to Peer Lending Small notes Vs Large Notes

I have recently started investing in lending club. Very minimum with $25 in each note. I was wondering which is better funding. The small notes vs large notes; 36 vs 60 terms in addition to ...
4exchange's user avatar
1 vote
2 answers
484 views

Peer to peer lending business model (i.e. Lending Club)

I am doing some research on the peer-to-peer business model. When looking at Lending Club, I was wondering what the legal framework model is for them. To be more specific, how are they set up as a ...
samyb8's user avatar
  • 121
5 votes
1 answer
2k views

How can someone invest in areas that require you to be an accredited investor [without qualifying as an accredited investor]?

I have some money that I would like to invest. I have some money invested in the stock market and I have found some other places I'd like to invest as well, but it seems that many places require that ...
Ryan's user avatar
  • 1,048
2 votes
3 answers
3k views

P2P lending in Maryland?

I'm interested in investment through Prosper or Lending Club, but both are not available in Maryland where I live. Is there any other alternative that I can invest quite safely?
user67275's user avatar
  • 163
12 votes
1 answer
2k views

What are the tax implications of a LendingClub loan writeoff?

I've invested some small amount of money in LendingClub notes. I wrote about it in my blog, if anyone is interested. Overall it seems to be working great, I spread my investment over a broad variety ...
littleadv's user avatar
  • 172k
2 votes
1 answer
155 views

Lending Club is not available to my area. Is it possible to invest via somebody else?

I live in DC and can't invest using Lending Club. My brother lives in CA and does. Is there any way to 'gift' him money or any other way to have him invest money for me? I want it to all be legal but ...
user avatar
18 votes
3 answers
618 views

Are peer-to-peer loans viable options for savings/investing?

Now that peer-to-peer sites like Lending Club and Prosper have matured are they viable options to add to my savings/investment portfolio or should I only use them with extra cash?
brainimus's user avatar
  • 966
8 votes
3 answers
456 views

Compare and contrast lending services: Lending Club and Prosper?

Of these two peer-to-peer lending services, Lending Club and Prosper, which have you had a better experience with? What are the advantages and disadvantages of each? Of course, this can be a nuanced ...