In the world of personal finance, payday loans have become the symbol of ultimate financial distress. The payday loan industry suffers from a poor reputation rivaled only by the tobacco industry. Lately, I’ve done a fair amount of research on the economics behind short-term cash advances. In the course of that research, [...]
Lending Club today announced that it has “started a process to register, with the appropriate securities authorities, promissory notes that may be offered and sold to lenders through our site in the future.” Thus, it appears that Lending Club wants to create a secondary market for its loans that would allow peer-to-peer lenders who [...]
A new reader of The Dough Roller sent me an email asking how she should invest $15,000. She initially considered investing in P2P loans with Lending Club or Prosper, which is how she found my site. But now she wonders if she should use the money to refinance her mortgage instead. Here [...]
Important Update: Prosper has suspended its lender program while it registers debt with the SEC. Fortunately, LendingClub’s lender and borrower programs are both active and offer attractive interest rates and terms.
If you think Prosper and Lending Club set interest rates the same way, think again. In fact, how they set interest rates [...]
Important Update: Prosper has temporarily suspended its lender program while it registers its debt with the SEC. Fortunately, Lending Club is an excellent alternative. You can compare how Lending Club and Prosper set interest rates or go directly to LendingClub to lend or borrow money.
I’ve invested in the stock market for more [...]