Does anyone use p2p lending? I just opened an account with 1k

I'm using LendingClub btw

>>1387816

What's risky about it? Are you simply fucked if people don't pay you back or do they have insurance? What kind of interest rates can you get?

>>1387877
You're fucked if they default as is their credit. They show basic verified info such as credit score, monthly income, lines of credit open, and amount of debt. You can choose loans you want to invest in and buy notes in $25 increments which lowers the risk spread amongst many people

>>1387877
>What kind of interest rates can you get?

The loans in queue now range a return from 5 to 29%

File: FundingCircle.png (31KB, 414x563px) Image search: [Google]

31KB, 414x563px

>>1387816
I use Funding Circle. Have done for two years. This involves lending to small and medium sized business. It's in the UK, US, Germany, Spain and the Netherlands.

If you're UK. Reply and we can exchange details and both get £50 if you join. Otherwise, look into it

Pic is my earnings from the last two years. I've been putting in £40 a week and occasional lump sums; choosing the businesses I lend to.

8.3% return ain't bad.

>>1387906
>8.3% return ain't bad

Nice!