Comments on: Lending Club Performance Update

By: Early Retirement Extreme

Early Retirement Extreme — Wed, 17 Dec 2008 18:08:36 +0000

My A and AA lenders in prosper are doing similarly well. It’s the B, C, and D that are killing me. Strangely, my E is behaving as well as my A. I think I just got lucky or picked the right groups of E borrowers.

By: Steve Rabago

Steve Rabago — Tue, 16 Dec 2008 16:23:42 +0000

ZimpleMoney.com recently launched catering to people who want to make loans within their existing “naturally” occurring social networks. It is not a marketplace site – it is more similar to VirginMoney than Lending Club. I hope your readers will take a look. Zimpley, Steve Rabago, ZEO, ZimpleMoney.com

By: Brett @ Personal Loan Portfolio

Brett @ Personal Loan Portfolio — Tue, 16 Dec 2008 06:35:47 +0000

I have seen similar performance on my loans with Lending Club. A few are late, but overall I am very happy with the performance. I still can’t lend there in my state, but I hope that it is available again soon.

By: Tight Fisted Miser

Tight Fisted Miser — Tue, 16 Dec 2008 06:00:52 +0000

I have some loans at Lending Club but I won’t be able to lend there anymore. They don’t allow lenders from half the states-including mine. Even if they did allow lenders from my state I couldn’t make a loan now because I don’t meet the income and net worth requirements. They seem crazily high for a $25 investment.

By: Lara

Lara — Tue, 16 Dec 2008 03:48:09 +0000

I am not as surprised as you and my performance is similar.
I decided to lend at Lending Club instead of Prosper a year ago for 2 reasons: first, borrowers are fewer but better in quality (similar to AAs, As, Bs and Cs in Prosper) and second they do lots of screening after the loans gets posted (I get many of the loans I pick “removed”).
So far, their collection is far better than Prosper as well.

By: DCS

DCS — Mon, 15 Dec 2008 22:40:29 +0000

As far as “what makes lendingclub different” – probably the fact that they only allow prime borrowers. What would be HR, E, or I believe even most D borrowers at Prosper likely do not qualify to borrow at Lendingclub.