LendingCROWD NZ P2P

[Soolaimon]

I agree with Joker in as much that it has been immposible to invest for the last year or so. However, just lately I have managed to secure 10 or so loans. I have spent a bit more time on the site but at the same time there does seem to be a lot more loans available. The future returns for the unsecured loans will be of interest I'm sure and I am being a little selective with them in the meantime.
And Saamee, same feelings, and now I have a bit more time I will be trying to reinvest at least all the funds withdrawn over the last 18 months.

[nztyke]

The situation is different now. Many more loans available now. The addition of unsecured loans has certainly helped but doses not account for all of the increase; there are six loans listed as I type this. Maybe increased marketing.

[nztyke]

Update: there are currently eight loans listed.

[Toukshare]

Yes, it's quite amazing. The addition of unsecured loans certainly does not explain the whole increase. Maybe it's a pre-Xmas phenomenon? I can't remember what it was like this time last year.
Attachment 12139

[Saamee]

This week has got busier and busier with new loans...

That is positive to see.

[RMJH]

This week has got busier and busier with new loans...

That is positive to see.

it's so much easier to get loans these days. But why no write-offs or arrears? Seems too clean?

[Toukshare]

it's so much easier to get loans these days. But why no write-offs or arrears? Seems too clean?

I agree it seems a lot cleaner than Harmoney.
However, I do have some arrears (7 loans out of 261 active, so small %). One is 42 days overdue and has never paid anything yet so could well be my first write-off.
OTOH, Harmoney is a shocker, and their closing to new investment might have been a blessing in disguise for me, $1,000 written off in the past year (since they stopped any new peer-to-peer), it's getting to the point where I'll be lucky to get all my original investment back.

[Bjauck]

I agree it seems a lot cleaner than Harmoney.
However, I do have some arrears (7 loans out of 261 active, so small %). One is 42 days overdue and has never paid anything yet so could well be my first write-off.
OTOH, Harmoney is a shocker, and their closing to new investment might have been a blessing in disguise for me, $1,000 written off in the past year (since they stopped any new peer-to-peer), it's getting to the point where I'll be lucky to get all my original investment back.

Harmoney was mostly unsecured loans compared with Lending Crowd? Didn’t Harmoney change how they managed debt collection - maybe that was not successful.

How did Lending Crowd manage their Covid response? Perhaps they gave longer grace periods than Harmoney did and bad debts have yet to kick in.

Has Squirrel’s reserve fund taken a hit during Covid?

[DT@squirrel.co.nz]

Has Squirrel’s reserve fund taken a hit during Covid?

Hi Bjauck, I look after Squirrels P2P business. I can confirm that the Squirrel personal loan reserve fund actually increased over the last 12months. At 1/4/20 the balance was ~$506k. At 31/3/21, the balance is $580k. The coverage ratio is in excess of 4.00%. These stats are published daily on our website. All our investors continue to earn the returns we've stated on the tin. Happy to take any further questions.

[Saamee]

OK well it's time for my 5.5 Years Investment Update on Lending Crowd....


Been in with LC since their very 1st loan which was issued on 21st December 2015.



Loan Early Repayments = 65.9%


Platform RAR = 12.07%


# of Loans = TOTAL = 2,108 \ ACTIVE = 718


Arrears = CURRENTLY x 2


This is now the Only P2P Platform I have active investments in, I find that it is the easiest, most straight forward and user friendly to use.


LC have grown with me as I have grown with LC.


Everyone investing in P2P is here for the same reason - to increase our earnings.


I am just keeping an eye on inflation, as my RAR comes down ( expected to hit 10% in a few months time ), @ 33% Tax, when Inflation gets to 6.7% the returns will not be making any money!!


Happy P2P trading