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November 28, 2012


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This is definitely something I have been interested in. Maybe I will try it out in 2013 or 2014 after my girlfriend's student loans are hopefully gone.

interesting article. How long are the loans? Do you favor a particular length Peter? Is it possible to sell loans on?

Andrew, The loans are typically 3-year or 5-year, and my portfolio is roughly 2/3 3-year and 1/3 5-year. And yes there is a secondary market where you can sell loans which allows investors to liquidate loans before the term is done.

Bummer - I didn't know that Michigan residents can't invest directly with P2P lenders like Lending Club.

I borrowed money from lending club just over a year ago when I needed a new furnace for my rental house. The process was extremely smooth and easy. My loan was funded within minutes.

I was looking forward to being a Lending Club investor soon but I guess will have to wait on Michigan to change the law.

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