I have been investing in Lending Club for a while now because I had great results with them as  a borrower in the past when they helped me to get rid of some VERY high interest rate credit card debt.

I have been investing in this site every month and making a new loan of $25 when I get enough in returns to fund a new loan. My goal has been to receive enough in repayments to fund a new loan every month and so far it looks like things are now working out.

I look at every dollar that goes into Lending Club as money that is lost because I was taught that was how you look at investing. You think of it as gone because at any time you could lose it so you should not count on it.  So far I have been lucky to have more wins with my loans than losses, especially with the economy being as bad as it is right now.

I currently have a total of 66 loans as follows:

  • In Funding 1
  • Issued and Current 46
  • Fully paid 15
  • Late 16-30 days 0
  • Late 31-120 days 1
  • Default 0
  • Charged off 3

My current rate of return is 5.18% which is still much higher than the interest rate I am getting at ANY bank, even though the risk of losing my money is high. Right now I am just withdrawing the money every week and adding up the totals and then if I get at least $25 in repayments I will fund a new loan the next month.  How is your Lending Club Investment working out?