Squirrel Money P2P

[humvee]

I didn't get a chance to come back and post how I got on with selling the loans (been to busy) In the end it took 9 day to liquidate ~$12,000.

5 year loans under $500 went fast
There were some delays on 2 & 3 year loans
There were more delays on the loans with balances between $501-$999

So while the process worked OK for me - not great - but OK I think the market (and ability to sell) would break should interest rates rise from when the loans were written, I also think anyone lending below the max interest rate is going to have trouble if they need to sell

[morphs]

I sold a couple of loans the other week as a test and they were snapped up the same day (at the same as the top market interest rate). However, I do agree that this service will not work very well if (when) interest rates rise. I would hope that Squirrel are aware of this and are working on the ability for the loans to be sold at a price other than face value, in a similar fashion to the bond market.