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Lending Club continues to grow month after month, with over $1.5 billion in originated loans since 2007. Here's the 6 best Lending Club reviews I've found from around the web:
- Lending Club Review – 2 Years, 6.23% Return, 5 Loans Charged Off – summarizes my two year experience investing in Lending Club. I've adjusted my strategy for 2013 and plan to achieve a 10% return with my new portfolio.
- Lending Club Note Trading Platform – Lending Club $10,000 – Mike at Live the New Economy has been investing in Lending Club for the past year and documents his monthly performance on his blog.
- How I am Investing in Lending Club in 2013 – Peter at Lend Academy talks about his investment strategy for 2013, which is a good introduction to expanding beyond the built in filters in Lending Club. Peter has been investing in Lending Club since 2008 and I would consider his returns and experience to be the most authoritative on this list.
- The Economist on Lending Club – the stalwart British publication The Economist examines the growth of peer to peer lending in the US and Europe.
- The Lending Club Experiment – Mr. Money Mustache is a relative newcomer to the peer to peer lending game, opening his LC account in September of 2012.
- Beat the Market Experiment – Jonathan at My Money Blog invested $10,000 in Lending Club and is tracking his performance every month, comparing it to investing in Prosper (another P2P lending site) and the stock market
I've found these six reviews to be the most authentic and genuine.
Take the returns people are posting with a grain of salt, as most defaults/charge offs don't happen until after the first year of investing. This will drop the 16-19% returns some bloggers are reporting back to the average 6-9% returns most Lending Club users report.