I am continuing to struggle with the time and effort it takes to invest in Lending Club loans.  (I do not like manual bidding in the first place and you have to search the extended credit by hand.)  I have been assured that my concerns have been noted and that they are working on something that will make my investing in LC easier.  In the mean time I am up to 9 different LC portfolios amounting to $1,784.30 in total portfolio investments.

Lending Club announced performance updates: Lending Club Performance Updates which effectively boils down to new and improved pages on loan statistics and lender ranking.

The essence of the social lending angle of p2p lending… Jeff and Heather of MyMicrofinance are refinancing their 2nd Prosper Loan on Lending Club (they had already refinanced the 1st Prosper loan with Zopa)…  I needed to place more money at lending club so I choose their loan… My portion of their loan will make it my largest investment in a single p2p loan… ever!  Wow did I really just do that?  I took a $625 position in their loan at 10.14%. I like to think it shows my confidence in the frugal couple and my true belief in p2p lending.

Here is their post (My one wish…)

Thanks! With the refinancing of this loan through Lending Club and the recent refi of the Mrs’ loan through Zopa we will be saving over $310 per month in payments… That’s a car payment-size saving opportunity we can’t pass up!

$310 savings a month is significant. Good luck Jeff and Heather.  Keep us posted… and PAY the LOAN PAYMENTS :)

Here is their listing: Frugal Couple Listing

If you are interested in trying Lending Club you should sign up with this link to receive a $25 bonus (that is like getting your first loan free): Lending Club Signup With Bonus.

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