Steadfast FinancesSteadfast Finances - Lending Club
22 April 2011

Shutting Down My Lending Club Investments

In a decision I consider nearly as bad as the “New Coke” experience, Lending Club has decided to limit the questions an investor can ask potential borrowers. The resulting policy only allows investors to ask a limited series of pre-approved questions. For me, this is unacceptable. The primary reason for the change in transparency was [...]

3 March 2011

Tracking Performance of Lending Club Investment Returns

After posting my Lending Club investment strategy and returns for over a year now, I thought today was as good as any to post a quick summary and track my net annual return volatility. Summary Outperforming Lending Club’s benchmark index of 9.7% by ~4.5%. Loan payments generate ~$250/month of cash for reinvestment. Defaults: 2 loans [...]

21 February 2011

Lending Club Loans: Separating the ‘Wheat from the Chaff’

I’m a great believer in luck, and I find the harder I work, the more I have of it. – Thomas Jefferson. Like all things in life, if you’re willing to roll up your sleeves and do a little bit of work, the chances of something good happening are in your favor. It doesn’t happen [...]

7 February 2011

My First Lending Club Loan Default

They say you always remember your first more than the others… So yes, after 1 1/2 to 2 years as a Lending Club investor, I finally got hit with my first default where a small $24 loss took my pretty little 15.64% NAR out behind the woodshed to a tune of 0.86%. A 14.78% NAR [...]

4 February 2011

P2P Lending Strategy: Older Borrowers Mean Safer Loans?

One static component of my constantly evolving Lending Club investment strategy is identifying borrowers who have a fairly long history of employment. In other words, that means: the older the better (but not at or beyond retirement age). 10 years plus with a single employer. decades of experience often imply management material. As the above [...]

30 December 2010

Lending Club Update: Earning 15.6% NAR on P2P Lending Investments

~ ~ ~ April 2011 Update: Shutting Down My Lending Club Investments over Q&A Change ~ ~ ~   My Lending Club investment portfolio is continuing to look fairly impressive as we close the books on 2010. Summary Net Annual Return is up to 15.64% NAR. My highest observed NAR was 15.69%, but as of today, I’m [...]

27 November 2010

Just When Credit Card Companies Thought Debtor Anger Had Subsided

Think debtor and consumer anger over extremely high credit card interest rates has abated? Think again… It must really suck to work for credit card companies like JP Morgan Chase, CitiBank, or Bank of America, when customers are leaving one of your cash cow businesses because management can no longer offer competitive interest rates. Or [...]

10 November 2010

How to Fill Out a Lending Club Loan Application to Attract Investors

As a Lending Club investor for around 18 months now, I still find it surprising that a small percentage of loan applicants fail to give even the most basic of information in their loan description. To me, the P2P lending investor, it makes perfect sense to give as much information as possible (without compromising your [...]

4 October 2010

Peer To Peer Lending Popularity Continues with ‘The Simpsons’ Appearance

Could all it take for Peer-to-Peer Lending to go full tilt mainstream is a big mention on a major network TV program with a huge cult following? Could be! Last night’s episode of The Simpsons entitled “Loan-A-Lisa” explored the basic concepts of microfinance and how everyday investors, like you and I, can lend to entrepreneurs [...]

30 September 2010

P2P Lending Going Mainstream?

This might be the best news segment on Peer to Peer (P2P) Lending I’ve seen from main stream media thus far. Even though P2P Lending has been a profitable alternative investment for me (e.g. 15% returns in my Lending Club portfolio), it’s tough to forget that there are real life people on the other end [...]

21 September 2010

Lending Club Update: Earning 15% NAR on Microloan Investments

~ ~ ~ April 2011 Update: Shutting Down My Lending Club Investments over Q&A Change ~ ~ ~ ~ ~ ~ December 2010 Update: Earning 15.6% NAR on Lending Club Investment Portfolio. ~ ~ ~ Once again, I’m pleased to report positive results for my Lending Club investment portfolio. Summary My Net Annualized Return is [...]

14 September 2010

Taking Advantage of Lending Club’s 1.5% Cash Bonus on Recurring Deposits

Being a lover of free money, and who isn’t, I’ve decided to capitalize on Lending Club’s 1.5% cash bonus offer on recurring deposits. Lending Club’s Recurring Deposit Bonus Details Earn 1.0% cash bonus on recurring monthly deposits of $200 to $499 per month. Earn 1.5% cash bonus on recurring monthly deposits of $500 or more [...]

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