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Wednesday
Apr172013

Go Big or Go Home: Let the Lending Club vs. Prosper Battle Begin!

Once again, my impatience has gotten the better of me.  I watch my emergency fund sit in our savings account, growing by pennies, while my Lending Club investment grows dollars each day.  Now that I'm more familiar with Prosper, Lending Club's competitor, I decided to take off the gloves and engage in proper P2P lending combat, so here we go!

Here are my current Lending Club stats:

And after my $9,000 instant transfer this evening to Prosper, here are its new stats:

No doubt, it will take months to get this money invested into loans, and I've done my level best to follow nearly the same loan criteria that I've applied at Lending Club.  One nice thing I've discovered with Prosper is the Quick Invest feature, which saves criteria that you designate for loans that you are interested in and then Prosper invests your money automatically when those criteria are met.  Once again, I've limited myself to only $25 in any one loan.  Here are the remainder of my criteria for Quick Invest:

So, the waiting game begins.  More to follow in the upcoming months as the battle is well and truly joined!  Huzzah!  In the meantime, I'll be plugging away at refilling that emergency fund!

In the meantime, don't forget to enter for your chance to win an iPod here; this is our chance to pass a small part of our good fortune here at Live the New Economy back to you, our readers.  You must know that my most powerful consumerist impulses are constantly demanding that I unbox this little treasure, so take it off my hands while it is still brand new, in the box, waiting to deliver you the very best digital goodness.

You can enter here for free; daily Tweets about the contest earn you more entries.  Good luck!   

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References (3)

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    Go Big or Go Home: Let the Lending Club vs. Prosper Battle Begin! - LTNE: - Live the New Economy.
  • Response
    Go Big or Go Home: Let the Lending Club vs. Prosper Battle Begin! - LTNE: - Live the New Economy.
  • Response
    Go Big or Go Home: Let the Lending Club vs. Prosper Battle Begin! - LTNE: - Live the New Economy.

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