How to invest in Lending Club (Method #3)
This procedure will show you the step-by-step instructions on how to invest in Lending club.
Step-by-Step Instructions
1. First go to URL www.lendingclub.com, Click “SIGN IN” at the upper right corner and sign in using your email address and password. Then click on the blue “Sign In” button.
Image Link: https://www.screencast.com/t/ouAEtxX8zz
2. Once signed in, click on “Invest” tab.
Image Link: https://www.screencast.com/t/u6Td7xFEHzJ
3. Click on the “Trading account” tab.
***Note: This method is advanced so you need to talk to your Coach first. Make sure you’ve signed up for the Trading platform.
Image Link: https://www.screencast.com/t/YNxaBHo74jrE
4. Click on “Go to the Note Trading Platform”
***Note: A warning would appear that you are about to leave the lendingClub website since it is hosted by a third party, Click on confirm to proceed.
Image Link: https://www.screencast.com/t/6PUO19q1atWy
5. Click on “Browse Notes” on the Trading platform.
Image Link: https://www.screencast.com/t/zqKLxtDB
6. On this page you set the filters, click on more to open additional filters. Set the interest rate, uncheck the 60 months, no need to make changes to “Outstanding principal” and loan status. Set “Remaining payment” 36 and 36 and go over with your coach. Uncheck the red arrow pointing down at the “Credit score change”. Set original note amount from 25 to 25. Move the markup point to zero. Don’t make any changes to asking price and yield to maturity Check exclude loans I have already invested in.
***Notes: The only two things that would change is the Interest rate and Remaining, the rest should be as it has been set.
Image Link: https://www.screencast.com/t/PBxQoJOP8
7. Set the showing notes to 100 at the upper right corner, you can, check Lending club Loan ID to select all the notes if you want to buy them all and click Add to order. You can view your orders by clicking view order
8. You can now make changes to your order and click on “Place order” to place your order.
See image: https://www.screencast.com/t/WhlVaSC0eg
There are no assigned portfolio screen to view on this page so you would click go back to “LendingClub” at the top right corner.
See image: https://www.screencast.com/t/CbrGZDE0e6AK
9. Click “Holdings” at the Top and click “Portfolios” to Click on the number you would see here eg. “You have 10 loans that are not assigned to any portfolio” to assign it to a portfolio.
Image Link: https://www.screencast.com/t/M1YwvkxJooum
10. Display all the notes by clicking “All” at the right corner. Check the box close to Loan ID to select all the Notes and click “Assign Notes to”, to either assign it to an old portofolio or create a new one.
Image Link: https://www.screencast.com/t/Dlt9qF7RF