Lending Club Note Platform is no more– LC is discontinuing its note platform after its merger with Radius Bank.
I was going to put more money to help lenders and for diversification purposes but no more Lending Club Note platform 🙁
I was sad- But then I am thankful for LC enabling me to diversify and earn some interest while helping to finance borrowers 😀
Overall, I made about 8%+ annually over the years- Eh, not bad-
There were times that the loan qualities were so low that my returns tanked and then it went back up. 8% over almost 10 years is not bad-
As always, very thankful- Thank You Jesus 😀
I googled whether other lending platforms were available and I remembered Prosper. So now I will diversify and fund borrowers through Prosper.
Prosper has more information about the borrower than LC so time to do some analysis. However, I believe that I will use similar filter criteria-
50K+ income, 5+ year credit history, 600+ credit score, preferably professional jobs such as accountant, nurse,…
I tried to invest on a note today but no notes meeting my filter-
So for now, I will just put more money into MREITs that pay monthly dividends such as AGNC and ARR.
Sad to say good bye to LC notes but happy and thankful to try out Prosper.
Thank You Jesus for all these peer-to-peer lending investing options. I pray that You bless us and that we share Your love and blessing with others Amen-
Rejoice at all times. Pray without ceasing. Give thanks in every circumstance, for this is God’s will for you in Christ Jesus.
1 Thessalonians 5: 16-18