LendingCROWD NZ P2P

[mlt322]

Hi PP, I'm a bit late to the party here as I'd pretty well given up LC as they never seem to have loans available when I log in.

Sounds like you have the solution and I was wondering how I can join the club.

[whitt]

Hi PP, I'm a bit late to the party here as I'd pretty well given up LC as they never seem to have loans available when I log in.

Sounds like you have the solution and I was wondering how I can join the club.

Mlt go back a couple of pages in this thread. There is a big post by PP withe the joining instructions for his Provance system you want

[mlt322]

Thanks for that, Whitt. I actually got a message from PP with the instructions too. Much appreciated.

[Saamee]

Ha ha... Now many of us are Provance users... We eagerly await the next LC Loan to appear and be notified.... BUT a very quiet new Loan weekend again @ LC!!

[Darchie]

Thanks mp52.

1. The service is free at the moment and that's the way I imagine it'll remain; I have polled a few of the early beta users on payment models and it's tough. See, I probably wouldn't pay for it, but then my volumes are very small. Larger volumes = more in the bank = potentially more cash drag = incentive to move into loans quickly. These users might see a monetary value in the service. I think the strongest option is a one time donation, $10 or $20, if users feel like they're getting value it's up to them if they want to contribute. What I don't want to do is take money if a) it really puts me off side with LC management and b) LC provide an auto-invest option just after the cheques clear (I probably would give myself a donation if that was the model.)

2. No strictly speaking I'm in breech of the Web Site Terms of Use; So I've pinged them an email explaining the situation, just so there's no doubt, I want to be above board here. Not sure why this slipped my mind, when I started down a similar path with Harmoney, their upper management had no issue with a breach in terms. Guess in the speed to getting a product to market here I missed communicating with LC :/

(It'll be out of beta by Monday after I address a couple of glaring Internet Explorer bugs.)

Attachment 8193

PP.

Hi PennyPicker
I Do appreciate the time involved and look forward to seeing your Harmoney heads up txts as well.

I'm happy to donate a little to go towards your time involved in putting this together.
Please let me know how this donation can be actioned/achieved!

[AndyKiwi]

Hi PennyPicker,

I would be happy to donate a little as well for your hard work and excellent service. I would say put up a donation link on your website. Awaiting to hear from you. Thanks!

[Soolaimon]

Two loans paid off today making it 10 out of 71. I have been transferring funds as they come due from Harmoney to LC now for a month or so and am finding that I cannot invest enough in to LC to keep all funds invested. This is even as I am doubling the amount in each loan compared to Harmoney.

[Saamee]

Two loans paid off today making it 10 out of 71. I have been transferring funds as they come due from Harmoney to LC now for a month or so and am finding that I cannot invest enough in to LC to keep all funds invested. This is even as I am doubling the amount in each loan compared to Harmoney.

Your "Paid Off' rate is very high @ almost 15%....

I was also in those 2 Loans repaid overnight.

My 'Paid Off rate is still tracking @ 10% with LC

We have no control over Borrowers repaying early - we just have to accept this as part of P2P Lending as an Investor!

By the way - Give me a 'Paid Off' loan over a Default any day!!

[Cool Bear]

Your "Paid Off' rate is very high @ almost 15%....

I was also in those 2 Loans repaid overnight.

My 'Paid Off rate is still tracking @ 10% with LC

We have no control over Borrowers repaying early - we just have to accept this as part of P2P Lending as an Investor!

By the way - Give me a 'Paid Off' loan over a Default any day!!

mine is exactly 15%. 9 paid off from 60 loans. Only started in January this year. I rather like early repayments - it means that should we need the money, we do not have to wait 3 to 5 years! Amount invested is increasing but still a small fraction of what I invested in Harmoney.

[Soolaimon]

Two loans paid off today making it 10 out of 71. I have been transferring funds as they come due from Harmoney to LC now for a month or so and am finding that I cannot invest enough in to LC to keep all funds invested. This is even as I am doubling the amount in each loan compared to Harmoney.

Correction!!! I had added the two recent paid-offs when they were already in the calculations. So my revised figures are more in line with others. ie. 8 paid off out of 69 loans. So that's no so bad, and I agree that pay-offs are ok as far as withdrawing funds go, especially as I have twice as much in Harmoney as LC so it should not take too long to even the investments out. And that is my goal in the meantime.