Lending Club Sandbox: Day 16

Sixteen days after getting $2500 in my Lending Club account, I am finally starting to get payments back on my notes!! These payments are primarily coming from the notes I bought thru Foliofn. Here’s my account summary today:

10/10/15 Lending Club Summary

One annoying thing that has happened, that I didn’t really expect, is that one of the $25 notes that I purchased thru Lending Club is already FULLY PAID! The person just took out a loan and then paid it all back within a few days. (Maybe a scheme to raise their credit score?) In addition, I had at least 2 other notes that didn’t “issue”.

Rather than waste more time with automated investing & then the 3-10 days it takes for a note to issue, I went ahead and bought more notes thru Foliofn. Foliofn is definitely giving me that sandbox-satisfaction of being able to buy notes on the spot. It usually only takes 1 day for my Foliofn notes to clear and become “mine” and often their next payment is less than 1 month away.

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