LendingCROWD NZ P2P

[Saamee]

Small 5K loan listed >

Funded	Time remaining	Grade	Rate*	Type	Term	Amount	My investment
54%	6 days and 16 hours	B1	13.97%	Personal	36 months	$5,250.00

Loan all filled by 7:30pm!

[AndyKiwi]

Small 5K loan listed >

Funded	Time remaining	Grade	Rate*	Type	Term	Amount	My investment
54%	6 days and 16 hours	B1	13.97%	Personal	36 months	$5,250.00

Hmm... Didn't receive text for this loan.

[PennyPicker]

Hmm... Didn't receive text for this loan.

Hey mate, yep really sorry about that. Saamee alerted me to the problem but unfortunately it was 87% funded and by the time I rejigged things the loan was full. I'm working on a fix now that'll go live in the next hour or so. I'm implementing a feature ensure this never recurs.

PP.

[AndyKiwi]

Thanks PP for your quick help as always. You rock!

[mp52]

Hey PennyPicker,

Thanks for the reply and excuse the late response.

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...

The donation model sounds pretty good - preferable for more modest investors who might not see brilliant ROI on a subscription model. I suppose you a freemium model could work with delayed data for the free plan but the loans are filling so quick it'd be hard to make that work without frustrating the new adopters on the free plan. So far there haven't been enough loans coming through for me to utilise the service fully though I'm not sure its working correctly as I didn't receive TXTs for any of yesterdays loans (have received one since joining start of this week).

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...

Good stuff - would be annoying to do all this work and then get hobbled at the source.

Keep up the great work!

[PennyPicker]

Hi mp52, I'll take most off this off-line; but for the group;

I'm not sure its working correctly as I didn't receive TXTs for any of yesterdays loans (have received one since joining start of this week).!

A bug (now fixed) let the 7pm loan last night creep through without a notification going out. I know this is the only of it's kind and it won't happen again. I'll follow up on why you didn't receive a message for the earlier loan.

I've spoken to one of the founders and he acknowledges the breach, but is OK with what I'm doing here. He was really good about it. So as I told him, "I'll continue to tinker".

PP.

[Saamee]

Hi mp52, I'll take most off this off-line; but for the group;



A bug (now fixed) let the 7pm loan last night creep through without a notification going out. I know this is the only of it's kind and it won't happen again. I'll follow up on why you didn't receive a message for the earlier loan.

I've spoken to one of the founders and he acknowledges the breach, but is OK with what I'm doing here. He was really good about it. So as I told him, "I'll continue to tinker".

PP.

PP's service is provided to our LC community for free.

I view the service as additional to still making sure I'm logging in myself... regularly ( at least 2 time every hour )

PP's offering us a service that I have always thought ( and also requested from multiple times ) LC & HM should be offering.

Hell, Marcus ( CEO ) from Lends Me can send a personal Email to me and update me regarding a loan that fits my criteria is available...

I guess as long as LC & HM always have more Investors ( and their money ) than there are loans, they will never see the need to offer Alert Notifcations for their own products.

To boot.... With an almost 'Locked In' interest rate cut next week, the Investor Returns with LC & HM look AMAZING!

[Saamee]

What are the driving reasons for your P2P investments?

I wonder if anyone else would like to enter into this and share...

For me it is three fold:

#1) Obviously to return a Higher interest rate than any high street bank

#2) To be more diversified - an alternative to NZ Property, Bank Term Deposits and Shares

#3) Build a passive income stream from P2P be double the weekly NZ Pension
I still have the best part of a decade left to achive that!
A slow weekly 'Drip Feed' into new P2P loans, built up over a couple of years.

Any other takers out there???

[PennyPicker]

Good question Saamee...

What are the driving reasons for your P2P investments?

1. Diversification in addition to cash/bonds/shares
2. High ROR over other investments
3. Passive income stream for retirement
4. It's a bit of fun, figuring out the key drivers to maximise return while minimising defaults (work in progress!). (If I'm not above platform RAR I'm not getting the results I want. Yes, a little competitive )

[Minvestor]

Why? Many of the same reasons. But mostly, because I am retired and was trying to live off the interest from bank FDs -- which was OK until interest rates started dropping. I still have FDs of 4.5 and 5.5 % until next year, so am starting to build up a portfolio of LC loans to test whether this would be a reasonable, reliable, way to fund the rest of my retirement. Thus, I am focused on more conservative LC loans that will suffice my income needs. No real need to increase capital. So,

1. Income to live on in a low-interest environment

is about the only reason.