October 10th, 2008 — , Lending Club, P2P Lending News, Prosper, The Economy, Zopa, risk from Personal Loan Portfolio @ Personal Loan Portfolio
I planned to blog in commiseration with Tom about being denied for a loan. Tom was denied for a Zopa loan and I was rejected for a GE Money Bank credit card through Amazon. GE Money Bank took 10 days to tell me that they could not verify my identity despite the promise [...]
Related StoresContinue reading → Zopa Closes: More Negative P2P Lending News
September 24th, 2008 — , Lending Club, arbitrage, ebay listings, excess inventory, making money, making money online, unbelieveable price, woot from Mike @ richerbytheday
This week, a fellow blogger at the Lending Club blog asked whether shopping on Woot is financially responsible and gave advice on how to make sure that it is. To his commentary, I’d like to add how to make money using Woot, or what I affectionately call Woot Arbitrage.
For those of you who don’t know, [...]
Continue reading → Woot Arbitrage: Making Money One Day, One Deal at a Time
August 20th, 2008 — , Lending Club from Mike Smith @ Lending Club
We’ve all been lured into a store with the promise of an unbelievably low price, only to find out that a mail-in rebate was involved. In many cases, the rebate makes the offer seem so good that we decide to make the purchase, but we really shouldn’t count on that discounted price until our rebate [...]
Related StoresAugust 19th, 2008 — , Lending Club from Personal Loan Portfolio @ Personal Loan Portfolio
I mentioned earlier that I had one Lending Club loan fall behind, but the loan recovered in less than 30 days. I now have one Lending Club loan more than 30 days late.
I had my doubts when I bid on it because the person sounded too desperate to get out of town. [...]
August 15th, 2008 — , Lending Club, credit scores from tom @ Prosper Lending Review
New borrowers can get 10% off Lending Club loan origination fees through an exclusive Credit Karma offer.Borrowers on Lending Club are only charged as a result of an accepted and approved loan. Fees range from 0.75% to 3% depending on the borrower’s c…
Related StoresAugust 14th, 2008 — , Lending Club, award from tom @ Prosper Lending Review
Lending Club has been nominated as one of the Top 100 Internet innovators in the U.S. by the Industry Standard in the ‘Commerce’ category. Others nominated include Mint, Zillow, Farecast and Wesabe. The winner will be decided by popular vote and announ…
Related StoresJuly 21st, 2008 — , Features, Lenders, Lending Club, Site Review, account management, busy at work, conclusions, group loans, loan performance, long time, money, monthly statements, motivation, portfolios, quiet period from RateLadder @ Rate Ladder
A few weeks ago Rob Garcia at Lending Club announced updates to the lending account management features. I apologize it has taken me this long to cover the update, but I have been busy at work and frankly without lenders having the ability to lend money I was lacking motivation. Well I got to it [...]
Related StoresContinue reading → Lending Club Updates Lending Functionality
July 10th, 2008 — , Features, Lending Club from Rob Garcia @ Lending Club
We are pleased to roll out a few new features that will make our lenders’ lives easier:
Monthly Statements
P2P lenders at Lending Club can now see a clear snapshot of their account each month. An account summary shows monthly interest earnings and variation in account value, as well as the asset allocation by loan grade. [...]
Continue reading → July ‘08 Release: Better P2P Lending Account Management Features
July 7th, 2008 — , Lending Club from Personal Loan Portfolio @ Personal Loan Portfolio
According to NetBanker, Lending Club has a $500,000 per month burn rate. That is lower than my earlier estimation my estimate of the monthly cash burn rate delta due to the quiet period. As some of the commentators on my site mentioned, it seems to have been reasonably easy for Lending Club to [...]
Related StoresContinue reading → Lending Club Quiet Period Burn Rate Update
July 4th, 2008 — , Lending Club, prosper book from tom @ Prosper Lending Review
Chris Barrett, film director and award winning movie producer, just published a book called Direct Your Own Lifewhere he promotes Lending Club as one way to finance your dreams.Last year Chris Barrett won $3,000 in Lending Club’s video contest. Chris …
Related StoresContinue reading → Movie director promotes Lending Club (again)
July 1st, 2008 — , Fynanz, Lending Club, Prosper, Referral, Revolution Money from tom @ Prosper Lending Review
Since announcing their referral program one year ago, Prosper has grown from about 300,000 members to nearly 800,000. Under the bonus program, both the referring lender and the new lender received $25. Over the last year the program has been modified…
Related StoresJune 30th, 2008 — , Lending Club, Uncategorized from Personal Loan Portfolio @ Personal Loan Portfolio
In Lending Club’s SEC S-1 Filing in relation to the quiet period, Lending Club listed many risks. It is similar but not exactly like the financial risks Lending Club originally posted on their website.
The following risks are taken directly the SEC S-1 filing in which there are more details, but the following [...]
June 23rd, 2008 — , Investing, Lending Club, P2P Lending, Prosper, loanio, loans, risk, sec registration, start up from Lazy Man @ Lazy Man and Money
While I was asleep at the wheel on Friday, Lending Club came through with an update on their quiet period. When we last left them, I declared Lending Club is Dead. I admit that I was going for a sensational headline, but I still maintain that I wasn’t irrational. When a start-up company says that it is A) Unable to take new business, B) Unable to talk about why it can’t new business, and C) Unable to give a time-line for when business with resume, you have to wonder.
On Friday we learned that Lending Club Filed For [...]
June 21st, 2008 — , Lending Club, promissory notes from tom @ Prosper Lending Review
Lending Club uses this graphic in their recently released SEC filing to help explain how promissary notes will work in their lending platform.In addition, they answer several questions in the filing which we will reprint here. They can also be found on…
Related StoresContinue reading → Questions and answers from Lending Club’s SEC filing
June 21st, 2008 — , Lending Club, promissory notes from tom @ Prosper Lending Review
Lending Club announced yesterday that it has filed a registration statement with the Securities and Exchange Commission relating to its social lending platform. The full 100+ page registration statment is available on the SEC website. Here is the prosp…
Related StoresJune 21st, 2008 — , Lending Club, promissory notes from tom @ Prosper Lending Review
Less than three months after halting lending operations and announcing a quiet period Lending Club has issued a press release announcing a registration statement they filed with the Securities and Exchange Commission. Here’s a copy of the press releas…
Related StoresContinue reading → Lending Club Files Registration Statement with the SEC
June 21st, 2008 — , Lending Club from RateLadder @ P2P Lending
Lending Club has filed an S1 with the SEC (link to S1 filing). It looks to be similar in nature to the Prosper filed an S1 reported here on 10/30/2007.
This continues the Lending Club quiet period started on 4/8/2007. Originally I had guessed 7 months to 1.5 years for the Lending Club quiet [...]
June 20th, 2008 — , Lending Club from Colin @ CommunityLend blog
Lending Club in the US have officially filed with the SEC today. Filing is here. We are still analysing what the application means, and they are still under ‘quiet period’ pending approval.
News About Tech from all around the world » Lending Club Update: SEC Filing for $600 Million in Member Payment Dependent Notes
Below [...]
June 20th, 2008 — , Lending Club, P2P Lending News, sec from Personal Loan Portfolio @ Personal Loan Portfolio
Lending Club just sent an update via email about their latest filing with the SEC. Unfortunately, they are still in a quiet period so they do not say much about the ongoing outlook, but it seems they may be one step closer to completing the requirements to return to P2P lending. So maybe [...]
Related StoresContinue reading → Lending Club SEC Update During the Quiet Period
June 20th, 2008 — , Lending Club, Member Payment Dependent Notes, News, P2P Lending, consumer loan, member loans, quiet period, securities act of 1933, securities and exchange commission from Mike @ richerbytheday
Lending Club, which has been in a quiet period due to a pending SEC filing, issued the following press release today:
Lending Club Files Registration Statement with the SEC
SUNNYVALE, CA - June 20, 2008 - Lending Club announced today that it has filed a registration statement with the Securities and Exchange Commission under [...]
June 16th, 2008 — , Lending Club, P2P Lending News, Video from Personal Loan Portfolio @ Personal Loan Portfolio
Congratulations to Lending Club for winning a Webby Award. Other recipients included David Byrne, will.i.am of the Blackeyed Peas, Stephen Colbert, Lorne Michaels, Michel Gondry, and Tim and Eric. Many, many other organizations won awards including the Peace Corps which won a Webby award for a government website.
Lending Cub gave a tongue-in-cheek acceptance [...]
Continue reading → Lending Club Webby: Can’t Say Anything! Quiet Period
June 13th, 2008 — , Lending Club from John Donovan @ Lending Club
Acceptance speech:
Photo by The Webby Awards.
© 2008 Lending Club. All rights reserved.
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Related StoresJune 12th, 2008 — , Lending Club, poll from Personal Loan Portfolio @ Personal Loan Portfolio
A few months ago, I posted a poll asking readers if Lending Club would survive the quiet period. Readers believe by a large margin (31 votes to 11 votes) that Lending Club will survive the quiet period.
I hope that Lending Club will survive as is. I like the P2P lending platform [...]
June 10th, 2008 — , Lending Club from Personal Loan Portfolio @ Personal Loan Portfolio
While looking up the details on the loan that I had reported as late, I noticed the Lending Club Promissory note text. I thought I would capture this for comparison purposes in case it changes after the quiet period.
The text “goodkarmaplease” in the Promissory note intrigued me so I searched for that on google, [...]
Continue reading → Lending Club Promissory Note Details - June 2008
June 9th, 2008 — , Lending Club from Personal Loan Portfolio @ Personal Loan Portfolio
Surprisingly, my Lending Club late loan is now current again. That puts me back to 100% current loans at an average interest rate of 11.23%. Thank you to the borrower for catching back up on your payments.
Related StoresMay 27th, 2008 — , Lending Club, performance from Personal Loan Portfolio @ Personal Loan Portfolio
Sorry for being nearly as quiet as Lending Club lately. A quick update on my Lending Club portfolio is in order. Most importantly, I had my first late loan. It is only 16-30 days late, but as most P2P lenders know, once a P2P loan is delinquent there only a small probability of recovery. [...]
Related StoresMay 22nd, 2008 — , Late loans, Lending Club, News, defaulted loan, memorial day from Jeff @ P2P Lenders
Just got back from a week-long work trip and arrived home to find my first LendingClub.com default. One thing that upsets me… Zero notification on the matter (instance loss should equal instant email). I also have several loans showing late in various stages in the account which is a very new occurrence to me.
Stiff, sore [...]
May 16th, 2008 — , Lending Club, collections from RateLadder @ P2P Lending
Much to my shagrin, I have managed to pick a Lending Club loan that is now 121+ days late. I thought it a good time to go over how LEnding Club handles these situations… They take a different approach and it seems a much more clear cut approach from my account’s perspective.
Here is the page [...]
Continue reading → How Lending Club Deals With 121+ Days Late
May 15th, 2008 — , Kiva, Lending Club, Zopa from RateLadder @ P2P Lending
Zopa took the Webby in Financial Services (Mint was People’s Choice). On Zopa you can buy a CD and help reduce my loan without giving up any of your entitled interest (current rate 3.75%): Start Here When Buying Your CD
Lending Club took the Webby in Banking / Bill Paying (Mint was People’s Choice). Lending Club is [...]
Continue reading → Zopa, Lending Club, and Kiva all Score at The Webby Awards
May 5th, 2008 — , Carnival, Lending Club, P2P Lending, Prosper, Zopa from Lazy Man @ Lazy Man and Money
Happy Cinco de Mayo! In a few hours from now I’ll be having tacos and maybe a cerveza. I draw the line at doing a hat dance. Grab yourself some nachos and chew on these articles about P2P lending…
Moolanomy spectulates why Lending Club has stopped taking new lenders. Interesting thought that “If they are successful, I believe they will emerge as the industry leader.” I think Prosper already has a head start on Lending Club, so I think they’ll just emerge as a stronger #2 than before.
Not to be outdone, Cash Money Life speculates [...]
Continue reading → Carnival of P2P Lending #9 - Cinco de Mayo Edition
April 22nd, 2008 — , Lending Club, Prosper.com, Zopa, loanio from RateLadder @ Rate Ladder
Another late loan and another withdrawal. Eagerly awaiting the end of the “quiet period.” I think competition is good for the market and at the exact moment it feels like Prosper is the loan dog (pun intended) in the p2p lending market… Zopa provides a CD and Lending Club doesn’t have lenders. Will loanio launch [...]SHARETHIS.addEntry({ title: “RateLadder Lending Club Update”, url: “http://www.rateladder.com/2008/04/22/rateladder-lending-club-update/” });
Related StoresApril 14th, 2008 — , Lending Club, poll from Personal Loan Portfolio @ Personal Loan Portfolio
Quick poll for your thoughts: Do you believe that Lending Club will survive the quiet period.
Note: There is a poll embedded within this post, please visit the site to participate in this post’s poll.
Please take a minute to mention the reason(s) why or why not in the comments. Thanks.
Continue reading → Poll: Will Lending Club Survive the Quiet Period?
April 14th, 2008 — , Lending Club from Personal Loan Portfolio @ Personal Loan Portfolio
Lending Club has gone quiet and is no longer allowing lenders to lend, but borrowers can still borrow money according to their email notice. Those loans will be funded by Lending Club. From the email notice:
The borrowing side of our site will remain generally unaffected by this registration process; borrowers can continue to [...]
Continue reading → Change in Lending Club Cash Burn Rate Due to Quiet Period
April 10th, 2008 — , Lending Club, Lending Club news from tom @ Prosper Lending Review
Despite the recently announced ‘quiet period,’ Lending Club’s Rob Garcia met with dozens at the Santa Cruz Tech MeetUp on Wednesday. Here’s a brief report from the Santa Cruz Sentinel:”Rob Garcia said Lending Club was an alternative for investors loo…
Related StoresApril 10th, 2008 — , Globefunder, Lending Club, News, P2P Lending News, Prosper, Statistics, Video, interest rate, risk, roundup from Personal Loan Portfolio @ Personal Loan Portfolio
P2P Lending has been in the mainstream media news a great deal lately. I decided to post a roundup of many of the recent news articles on Prosper.com, Lending Club, Zopa, GlobeFunder, and Virgin Money. It is unfortunate that Lending Club entered a quiet period just as they were gaining tremendous growth in [...]
Related StoresContinue reading → Lending Club, Prosper.com, and more: P2P Lending News Roundup
April 10th, 2008 — , Lending Club, P2P Lending, Prosper from Lazy Man @ Lazy Man and Money
I, like many other Lending Club members received a distressing e-mail a couple of days ago. I waited until now to sort out how I feel about things. Here are the highlights that I found interesting:
Lending Club has started a process to register, with the appropriate securities authorities, promissory notes that may be offered and sold to lenders through our site in the future. Until we complete the registration process, we will not accept new lender registrations or allow new commitments from existing lenders… The borrowing side of our site will remain generally unaffected by this registration process; [...]
April 9th, 2008 — , Lending Club, Prosper, blogs, roundup from Personal Loan Portfolio @ Personal Loan Portfolio
This extends my posting on the blog roundup of Lending Club quiet period postings…
HollowOak asks: “How far behind is Prosper? Or do they get kudos for having started the SEC filing months ago?”
Lazy Man and Money is calling Lending Club dead:
I have been worked for a number of start-up companies and they had one thing [...]
Continue reading → More Lending Club Quiet Period Announcement Links
April 9th, 2008 — , Lending Club, Prosper, laws from Mike @ Prosperous Land Blog
Lending Club has announced that they’re not allowing lenders to invest in loans until they get a few things sorted out with the government (I’m assuming the SEC):
Lending Club has started a process to register, with the appropriate securities authorit…
Related StoresContinue reading → Lending Club Halts New Lenders. Prosper Next?
April 9th, 2008 — , Lending Club, Prosper, institutional peer to peer lending from tom @ Prosper Lending Review
Netbanker has obtained a statement from Prosper on Lending Club’s abrupt lending pause.”Person-to-person lending is an increasingly popular way for individuals to borrow and lend money at attractive interest rates. Understandably it must be done in a s…
Related StoresApril 9th, 2008 — , Lending Club from RateLadder @ Rate Ladder
UPDATE: After a second reading I think my assumption about the secondary market is incorrect… (My own hopes for such a market might have clouded my vision.) It looks like LC is just registering for a license that they think they need to continue working with “lenders”: http://www.techcrunch.com/2008/04/08/lending-club-puts-moratorium-on-lending-activity/
I am leaving hte rest of my original post [...]SHARETHIS.addEntry({ title: “Lending Club Recharicterzation”, url: “http://www.rateladder.com/2008/04/09/lending-club-recharicterzation/” });
April 9th, 2008 — , Blogging, Blogroll, Digerati, Finwikian, Lending Club, News, Retirement, Review, community involvement, creative writing, personal finance, pfblogs, reaction, rich from Mike @ richerbytheday
I finally got around to creating my blogroll, which is located on the sidebar below my category list. Rather than just add the blogroll, I thought I’d share my rationale behind adding each of these sites. There are a lot of other good sites out there, many of which I read. I’ll [...]
Related StoresApril 9th, 2008 — , Lending Club, P2P Lending News, blogs, roundup from Personal Loan Portfolio @ Personal Loan Portfolio
I have already commented on Lending Club’s quiet period and referral program suspension. I decided to check other blogs to see what they have to say on the email notice that went out today. Since I was reading everything anyway, I decided to post links and a few quotes to everything that I could [...]
Related StoresContinue reading → Lending Club Quiet Period Announcement: A Blog RoundUp
April 9th, 2008 — , Lending Club from tom @ Prosper Lending Review
With no mention of Lending Club’s halt on peer lending, U.S. News and World report has featured a Lending Club borrower in a feature on how people are surviving the credit crunch.Ryan Feig, 35, founder of Zensah Performance Apparel, a Miami innovator o…
Related StoresApril 8th, 2008 — , Lending Club, News from RateLadder @ Rate Ladder
I received the following email from Lending Club…
Lending Club has started a process to register, with the appropriate securities authorities, promissory notes that may be offered and sold to lenders through our site in the future. Until we complete the registration process, we will not accept new lender registrations or allow new commitments from existing lenders. [...]SHARETHIS.addEntry({ title: “Big Lending News”, url: “http://www.rateladder.com/2008/04/08/big-lending-news/” });
April 8th, 2008 — , Lending Club, peer to peer lending, promissory notes from tom @ Prosper Lending Review
Lending Club has halted new lender registrations, stopped accepting new commitments from existing lenders, and terminated their referral program. They plan to allow lenders to purchase promissory notes and have terminated peer lending operations in ord…
Related StoresContinue reading → Lending Club halts lending, plans promissory notes
April 7th, 2008 — , Announcements, CEO announcements, Lending Club from Renaud Laplanche @ Lending ClubSocial Lending Blog - Lending Club
Lending Club has started a process to register, with the appropriate securities authorities, promissory notes that may be offered and sold to lenders through our site in the future. Until we complete the registration process, we will not accept new lender registrations or allow new commitments from existing lenders. We will continue to service all [...]
Related StoresApril 7th, 2008 — , Lending Club, peer to peer lending from tom @ Prosper Lending Review
ABC News features a Lending Club borrower and lender on Social Lending Networks, New Alternative to Banks.The borrower, a small business owner, could not find a loan from a bank. He then turned to Lending Club and was able to receive a $25,000 loan at …
Related StoresApril 7th, 2008 — , Lending Club, News from RateLadder @ Rate Ladder
Lending Club was featured on the ABC Nightly News… P2P Lending is certainly starting to raise it’s profile…
Social Lending Networks, New Alternative to Banks
I enjoyed this portion of the article… There is a video if you follow the link above.
Lending Club actually started as a Facebook application, and LaPlance says online lending was the next [...]SHARETHIS.addEntry({ title: “Lending Club on ABC News”, url: “http://www.rateladder.com/2008/04/07/lending-club-on-abc-news/” });
March 31st, 2008 — , Lending Club, P2P Lending, banking, cash, concept, dropsafe, investment, liquidity, personal finances, saving, structured investments from Mike @ richerbytheday
Many convenience stores use drop safes to prevent burglaries. A drop safe allows money to easily be deposited, but not easily withdrawn. A cashier might deposit a set amount of cash into the drop safe once the register hits a certain limit. Doing so keeps the unprotected amount (in the register) small [...]
Related StoresContinue reading → Using a Virtual Drop Safe to Help You Save
March 31st, 2008 — , Financial Education, Lending Club, bring, endless, false, flexibility, hesitant, ingredient, peer, plan from Mike Smith @ Better Rates. Together.
Flexibility is a key ingredient of a successful financial plan. With all of the financial strategies out there, it can be hard to decide which one will work best for you. As a result, once we find a plan that works, we are often hesitant to make changes, even if our situation changes. Peer-to-peer loans [...]
Related StoresContinue reading → Peer-to-Peer Loans Bring Flexibility to Your Financial Plan
March 29th, 2008 — , Financial Education, Frugal, Interviews, Lending Club, admit, beingfrugal, blazers, peer, prairie, secret, summer from DebtKid @
