Happy 2021!
Lending Club stopped issuing notes so I had to switch to Prosper to maintain portfolio diversification and to help those that need financing.
I just made my first loan to a nurse with a 20% interest rate- Hope he/she can refinance and I hope I get some return-
I use the following filter.
- Income: 50K+
- Job: Nurse, accountant, electrician…(professional or stable job)
- Credit Score: 660+
- Debt-to-income: <40%
- Mortgage: Yes
- Delinquency:<2
I just want to fund someone who is more likely to pay back.
Over the years through Lending Club, I realized higher income, higher credit score, low debt-to-income with no delinquency who are professional were much more likely to pay back-
The problem is that it is very hard to find these kind of loans…I found only one after almost two weeks…
For now, I just invested $50 dollars because I need to test the waters-
We will see how it goes- But thankful Prosper. Also, thankful for Lending Club.
I am thankful that I have funded loans to others and also made some profit (8%/year).
Hope I can continue peer-to-peer lending 😀
Thank You Jesus for enabling me to invest and help. Let us always be thankful and love our neighbors 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
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