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Signed up with $200 just to see what happens. This is probably beating a dead horse but drat is Lending Club slow to let me throw money at them. Three days to verify my account and now close to a week to transfer funds into the account. Since I can't invest until the money gets transferred, I've been playing with the filters and I've come across a few loans that look like businesses asking for money - I could be wrong, but is that normal? I assumed it would be people trying to get their credit cards in order or someone trying to build that dream deck they've always wanted. Hopefully early next week my money will appear so I can play 
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Jun 9, 2013 04:49
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Got the first $200 invested in B5 - C5 notes with reliable credit histories / no defaults. Interested to see where this might go.Saint Fu posted:Yeah it really takes forever for things to happen with LC. The worst part is waiting for the loans to issue. They'll be fully funded and sometimes sit there a week before they are issued. It's worst right when you start since you only have a few loans anyway. I set up weekly $25 contributions so I always have some loans waiting to be issued, I never really look at the "in funding" notes anymore. Took your advice after I went to move another $100 into my account and realized it wont be there until this Friday. Now, I should have a note or two to invest a week. Thanks
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Jun 17, 2013 05:43
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I started using Lending Club recently, tossing $25-50 in a week of disposable income I can live without. This is a trial run for me, to see how I do/how I like Lending Club. If I feel I'm successful, I will probably open an IRA next year and include this in the CD/bonds portion of my portfolio. But for now, I'll continue to chip away and see where this takes me to years end. Also, I didn't pay too much attention to the 70k networth thing - LC hasn't asked me to prove it. I plan on being responsible with how much I contribute and never putting more then I am willing to part with/lose.
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Jun 26, 2013 12:16
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Jalumibnkrayal posted:After months of practically no verified-income loans, LC has tons of them again. Did some big money investors pull back on P2P loans? I thought it was just my search settings. Good thing I got another $100 cleared today Also, is anyone having issues securing 3 year notes? I've had close to a dozen cancel and the money returned to me.
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Jul 3, 2013 05:29
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Did the same with mine last September. The returns were starting to suffer and my delinquent notes kept increasing. Oddly enough, I noticed a lot of my notes getting paid off within the first 6 months - great that I'm getting my principal back but the returns from those notes were meh.ohgodwhat posted:Hmm, isn't poor performance here kind of a bellwether for the wider economy as well? It's possible - but I'd also look at how LC is vetting the people they agree to give loans to. Something just feels off.
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Apr 8, 2017 00:48
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