I'm long overdue for an update on my Prosper lending.Â Things have been going pretty slow, but not through my own doing.Â Prosper has been slower than usual.Â Even though I've been reducing my lending in order to fund my Roth IRA, I have 8 loans pending approval.Â I think the holidays might be an issue since some of them were bid on before Christmas.
That said, of my 61 loans, I have a high number (3) of people who haven't paid in 3+ months.Â This isn't that surprising to me as I have quite a few E credit loans.Â What is surprising is that two of them are C lenders and one is a D.Â That defies the percentages.Â These people aren't complete deadbeats, they have paid me in the past.
Other than the above, things are going great.Â With an average interest rate of 23.55%, I'm still doing quite well overall.Â It's hard to do exact math on the returns as I'm always adding in new funds.Â I'm at the point where I'm able to add a little more than one new $50 loan each month.Â Psychologically, it is a huge motivator to see the compounding in action.
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