So far I've put $25 into every loan they've posted since January (about 50) and I've yet to have a single late payment or charge-off.
I'm fascinated by the technology of P2P lending, in the same way that I'm intrigued by how Uber and AirBNB are killing the legacy taxi and hotel models. I like the idea of being able to compete directly with the biggest banks in the country for small-business loans. Where will P2P lending be in a decade? Is it just a fad? Or is there a private debt distribution/investment revolution in the near-future that we can't even envision yet, in the same way that we couldn't envision a social media world in 2003?
I don't know. And that's why I just put play money into Lending Loop so far.
Here is one of the company profiles for a 'D' rated, 20%+ interest listing:
...Clearly the P2P lending model is still in the "wild west" stage. But I'll be watching closely, and throwing all the Eram Transport Ltd's out there a few bones...and sticking with the HBPP for my serious capital.What Does Eram Transportation Ltd. Do?
We're a trucking company that transports a variety of goods.
Financial Situation
My business is profitable and growing.
What is the loan for?
We intend to buy new equipment to improve a truck.
Why are we safe to lend to?
I'm a hard worker.