Tuesday, September 18, 2007

LendingClub - The Extra Penny

As I wrote last month, I invested in a small portfolio on LendingClub.com.

The portfolio was supposed to be an automatic investment of $25 in each of 20 different loans. Three of the loans didn't pan out for one reason or another, leaving me with 17 loans of $25 each and $75 returned to my account. My account also contained a small test withdrawal LendingClub made to test access to my bank account. This was for the princely sum of $0.44.

After two of the loans didn't fund, I withdrew the two bids and the sample deposit - $50.44 in total. Now the math is pretty easy, that should leave me with the one returned bid of $25 in my Lendingclub account.

Not so according to LendingClub. Somewhere along the line, I gained an extra penny. (Click for larger image).

That's not all. In my next post, I'll show you some really wacky accounting for my loan portfolio.

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