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Posts: 164
In response to
"
I recently started using Lending Club as a method of investing. Anyone have experience using it?
"
by
ty97
never heard of it. -- nm
Posted by
znufrii
Apr 16 '13, 09:23
(No message)
Responses:
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
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