ST Alpha - "I recently started using Lending Club as a method of investing. Anyone have experience using it?" (Reading a Post)

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I recently started using Lending Club as a method of investing. Anyone have experience using it?

Posted by ty97 Apr 16 '13, 09:22

I'm wading in slowly, trying to find the mix of notes I am most comfortable with.

Responses:

You're only putting in money you can lose completely, right? - spamlet Apr 16, 09:27 1
- As with any investment, of course. -- nm - ty97 Apr 16, 09:35
seems risky... -- nm - colin Apr 16, 09:25
never heard of it. -- nm - znufrii Apr 16, 09:23 9
- It's sorta like Kiva except it's peer loans to other US folks and they pay interest - ty97 Apr 16, 09:26 7
  - So, the old Prosper.com? -- nm - znufrii Apr 16, 09:34 2
    - A competitor of Prosper -- nm - ty97 Apr 16, 09:35 1
      - ah. didn't realize they were still around, they had run into some regulatory issues a while back, I think... -- nm - znufrii Apr 16, 09:36
  - are you guaranteed your baseline investment in any way, or can you have 100% loss? -- nm - colin Apr 16, 09:30 3
    - As with any loan/investment, you can lose up to 100% of your investments. - ty97 Apr 16, 09:33 2
      - one last question (i'm interested :) ) - how is income from these loans taxed? -- nm - colin Apr 16, 09:38 1
        
        They issues a 1099-OID apparently. It's interest so standard marginal tax rate applies. -- nm - ty97 Apr 16, 09:43
- Welcome to my club. Loan me $100. -- nm - Spawn Apr 16, 09:24
~you're going to miss me when the money's gone~ -- nm - Anna Kendrick, clop clop Apr 16, 09:23

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