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Lending Club, no investors?

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gbfan10
Valued Member

Lending Club, no investors?

I requested a second loan with lending club back at the end of April.  I haven't heard anything, so I called them a couple days ago and they said my loan was approved on the 10th of May.   14 days later I still have nobody funding my loan, on top of that I can't see my loan as being listed out to investors.  When I inquired about that, they said something to fact that not all loans are listed to the public for investing.    

 

With all the news about the CEO i i wonder if I will ever get this loan.    I want to consolidate a couple of high interest cards.   

 

 

 

 

 

Message 1 of 9
8 REPLIES 8
RonM21
Valued Contributor

Re: Lending Club, no investors?

Depending on how time sensitive it is for you, you may want to start looking elsewhere. Just in.case this falls through.


Total CL: $321.7kUTL: 2%AAoA: 7.0yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k | NFCU-45k | AMEX-42k | DISC-40.6k | PENFED-38.4k | LOWES-35k | ALLIANT-25k | CITI-15.7k | BARCLAYS-15k | CHASE-10k

Message 2 of 9
Appleman
Valued Contributor

Re: Lending Club, no investors?

With the current issues in the news, I doubt many investors really want to put more money into Lending Club loans. For awhile any loan that met even the most basic criteria was funded and often in hours. Currently there are probably not a lot of individual investors but more likely the big investment goups and banks are bidding and obviously they are not currently fundin your loan either.

 

That is the hard thing with LC, get approved and wait for investors. Really a cool way to do lending but when management introduces trust issues it can be very difficult to find the investment capital needed.

Message 3 of 9
Berk
Established Contributor

Re: Lending Club, no investors?

Try Prosper

Message 4 of 9
Anonymous
Not applicable

Re: Lending Club, no investors?


@Berk wrote:

Try Prosper


OP, this^^^^...

Message 5 of 9
maeghyn
New Member

Re: Lending Club, no investors?

Hey gbfan10.  Did your loan ever get funded?

 

I'm considering going thru Lending Club for a loan.

Message 6 of 9
gbfan10
Valued Member

Re: Lending Club, no investors?

Nope,  It's been almost a month and still the "Investors are funding your loan" is greayed out.    I wish they would have posted my loan on the public side, so I could watch it, but for some reason it doesn't show up there.

 

 

Message 7 of 9
Berk
Established Contributor

Re: Lending Club, no investors?


@gbfan10 wrote:

Nope,  It's been almost a month and still the "Investors are funding your loan" is greayed out.    I wish they would have posted my loan on the public side, so I could watch it, but for some reason it doesn't show up there.

 

 


I used Prosper. On March 22, 2014 I requested 15K for 36 months. On March 23,2014 my loan was fully funded and my interest rate was 6.05%. I have been very pleased with Prosper.

Message 8 of 9
gbfan10
Valued Member

Re: Lending Club, no investors?

I have good news on my loan, I received an email and it is fully funded and I can expect the funds in 2 days.    I did get a great interest rate, so I am excited.

 

 

Message 9 of 9
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