Quote Originally Posted by humvee View Post
Does anyone know if lend me has actually financed loans yet? One loan seems to have been there weeks and is only 0.7% financed.

The other well let's just say its going its going to take a lot more then 9% to interest me in defaults, dishonours, liquidation applications, low credit scores and court judgments
Hi everyone, Marcus here, I’m LendMe’s CEO and I’m available to answer any questions regarding LendMe and peer to peer lending.

Firstly, it's great to see so many of you interested in peer to peer. Your feedback, questions and insights through all of the threads helps us improve our offer for both borrowers and lenders. Myself and the LendMe team congratulate sharetrader and the admins for creating a fantastic forum for all of us to take part in.

Humvee to answer your question, yes we’ve financed loans. Close to $1.5 million since our soft launch commenced in December.

Regarding the loan which is approximately 0.5% funded. The borrower changed the amount they were seeking so the deal changed. While it seems it has been there for a while, it hasn't in its current form.

Regarding the second loan, we’ve been reviewing the applicant’s creditworthiness. When a member joins LendMe, they’re asked to disclose all information about their financial history; including defaults, criminal judgements, dishonours and liquidation processes. Our review indicated that this particular loan contravened LendMe’s rules so it was indeed removed. You can read more about our criteria by following this link and clicking on "who is eligible to borrow?"

Also, while there are two loans currently on the site, we have funded a number of loans already. The successful loans are funded very quickly, usually within a day. Also, the loans that have been funded have been snapped up by single investors (all private investors to date), which means that lenders who have expressed a willingness to fund a portion have missed out on these loans.

We're still very much in our soft launch phase, but we’re gradually adding more loans to the site and based on our enquiry rate it’s pretty clear the number, size, and type of loans available will quickly increase over the coming months.

Thanks

MM