Lending Club celebrating 10 years 😀
Here are some numbers~
- More than 160,000 retail investors have gotten unprecedented access to invest in consumer credit through LendingClub’s platform
- Nearly 2 million borrowers have gotten access to affordable credit through LendingClub’s marketplace
- 98% of investors who invest in 100+ Notes of relatively equal size have seen positive returns
- 1,700 loans are reviewed per day, and more than 50,800 loans per month
- Loans receive full commitment in 3-4 days on average
- Auto refinance customers saved an average of $1,500
- Borrowers pay 24% lower in interest than they were paying on their outstanding debt or credit cards3
- 73% of borrowers experience a FICO score increase three months after obtaining their loan–with an average score increase of 28 points!
I am satisfied with my high single digit returns~ Wish it could be double digit but not going to complain in the world of very very low interest rate~
Also, I hope the Lending Club stock gets itself together. Too much drama~
In terms of investing these days, I realize that Lending Club is running out of good loans!
I remember finding loans that fit my criteria some time ago. Now a lot of times, there is nothing much…Also, there is an increase in charge-offs 😦
Still I remain hopeful in peer-to-peer lending and hope Lending Club sticks around.