Over 18 months have invested in 491 loans @ LC. 156 have now closed. A 31.8% closure rate.
This is just part of the personality of P2P investing...
It also far less than over at Harmoney where my early closure rate was around 60%!
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My recent strategy has been to invest larger and quickly across @ Squirrel Money.
Then as the Loans get repaid @ SM move those repaid funds across to LC day by day \ week by week and slowly Drip Feed them into LC.
As least you $$'s are getting 9% on your funds at SM, while you wait to get into LC at say 14.79%.
Many good loans coming through today @ LC :)
It's been a good few days actually. Encouraging and I'm glad for the business LC is doing. Pre-Xmas ramp up?
*soap box* Personally haven't struggled or had to worry about loans AT ALL. Having that habit of checking emails on the phone every few minutes at work, gone. That monkey on my back, he's gone too. I've hit all the loan grades I wanted in the last four weeks, 38 loans in total. In fact, getting every loan I want I've actually halved my investment per loan, reducing overall risk. Am now making headway on ratio of new loans vs closed while increasing capital.
With some help from others on the forum I've been testing a wee application I knocked out, for personal use a month ago. Recent updates have made it more user friendly. It's an auto investor. I think there is at least a few out there, but why not share the wealth, so to speak.
http://provance.nz/
READ the documentation, FAQ and Disclaimer, please.
It currently only supports filtering by loan grade. And allows different investment amounts per grade. If you have more specific lending criteria this isn't for you, yet...
Some users have commented their antivirus (usually Windows Defender) reports a Trojan present. It's a common issue with the software used to create the installer, false positives to be sure. But if you're AT ALL unsure, don't touch it.
During the install I do get a warning from Windows, "Windows Defender SmartScreen prevented an unrecognized app from starting. Running this app might put your PC at risk." but that's just because the application isn't signed with a certificate. It's free and I'm not paying for a cert.
Development on this application has halted barring bug fixes. I'm working on something 'more evolved... and more accessible'.
Note: This program behaves in the same way as you having a browser tab open and occasionally peering into the Loans page. It shouldn't upset the powers that be, but if you're concerned it will, don't touch it! It's pretty stable and recovers from most unexpected scenarios, though I am aware of some outstanding bugs. If you're at all unsure, DON'T TOUCH IT!
I'm making it available because I feel it's a feature Lending Crowd should be providing by default and by not doing so they're hurting their retail investor engagement.
PS don't use this thread for questions about the app, PM if you want to know more (It's Windows only ATM...).
There has been lots of loans this week. Plenty to choose from , especially if you are lucky enough to be using pennypickers app
I appreciate the work and skill put into the development of this app...However,
I do not understand why Lendingcrowd allow a third party app access to its website so that Lenders can secure part of the principal of loans.
Why should those lenders who do not wish to use an unofficial third party app be forced to be put at a disadvantage?
Lending Crowd should either establish their own auto-invest, officially list this app on their site, or deny access to it, in my opinion.