Disqus - Latest Comments for Tom

Re: Lending Club raises $10.26 for social lending — joins crowded field

Tom — Thu, 23 Aug 2007 08:37:27 -0000

The field is not really that crowded. Zopa is not available in the US yet. Wonga and Globefunder are not live yet. Loanio is not live yet. Circlelending is not really the same thing - it's just loans between people that already know each other. Right now there are only two competitors - Lending Club and Prosper. The barrier to entry (lending laws) seems to be so huge that it takes a very long time for any P2P lending company to launch.

Re: Best Buy Will Now Sell Dell Computers Along with Wal-Mart & Staples

Tom — Tue, 18 Dec 2007 08:07:04 -0000

I wonder about the pricing structure. It seems to me like you will always be able to get a better price direct from Dell on their website.

Re: Competitions

Tom — Sun, 22 Feb 2009 20:17:08 -0000

Congrats on your creative entry. Good luck!

Re: linklings, p2p edition

Tom — Sun, 23 Dec 2007 15:45:06 -0000

Glad to hear you will be writing for the Prosper blog and hosting the p2p lending carnival. I've got plenty of p2p lending stuff on my blog if you want to check it out.

Tom

Re: linklings, p2p edition

Tom — Sun, 23 Dec 2007 15:46:13 -0000

Ah, I should have included the correct link to my blog - http://prosperlending.blogspot.com/

Re: The Carnival of Peer-to-Peer Lending: 2nd edition

Tom — Sun, 20 Jan 2008 19:55:33 -0000

Thanks for hosting this round. Great selection of articles!

Re: what is lending club?

Tom — Tue, 26 Feb 2008 23:03:27 -0000

Great review of Lending Club. I called their customer service once too and they were very helpful.

Re: February roundup

Tom — Tue, 04 Mar 2008 18:17:11 -0000

What a great list of blogs! Congrats on your great site traffic.

Re: this monkey’s gone to heaven

Tom — Tue, 15 Apr 2008 15:02:16 -0000

"I thought Lending Club was a decent investment."

I still think LC is a decent investment. They will be back and better than ever.

Re: prosper is dead

Tom — Wed, 22 Oct 2008 09:38:10 -0000

Like I mentioned on Lazy's site, Prosper isn't dead. They will come back from this stronger and better than ever. This is a good thing - not bad.

Re: Prosper – P2P Lending

Tom — Fri, 07 Sep 2007 04:16:44 -0000

I just checked out your loan. I'm a Prosper lender (and blogger). It's too bad you live in VA which has a rate cap on loans. The average interest rate for C borrowers for a loan under $5K is 16.6%. Even though you are a "clean C" I think it will be tough to get funded at that rate. I hope it works for you. Good luck!

Re: Prosper Resources – Part 1

Tom — Mon, 10 Sep 2007 06:01:30 -0000

Deep Market - thanks for the mention. I'm glad you find the articles on Prosper Lending Review helpful. I'd say the best ones are written by my brother. He has a lot of good insights.

Awhile back I did a review of all the Prosper blogs I could find. This may be a helpful starting point for you. I'd also recommend checking out LendingStats and Eric's Credit Community.

Re: Prosper Loan Update

Tom — Sat, 15 Sep 2007 11:26:29 -0000

I interviewed the CEO of Loanio back in August. He said it would launch this fall. They are probably going to have the same restrictions.

Lending Club has the same interest rate caps but it would be interesting to see if you get a different result there.

Re: Prosper Loan – 14 Percent Funded – 11 hours to go

Tom — Sun, 16 Sep 2007 05:48:18 -0000

Here's a look at bidding from the lender side. One thing I've noticed is that many lenders (including me) wait until a loan is funded or almost funded before bidding. That's because your money is tied up in the loan until the loan is complete. If you bid on the first day of a 10 day loan that does not fund then your money has been tied up for all that time not earning interest.

Re: LendingClub

Tom — Sun, 16 Sep 2007 05:49:31 -0000

That's too bad about Lending Club. At least they don't wait until the end of the process (like Prosper) to let you know about the state caps, etc.

GlobeFunder is supposed to be opening on October 2nd. Maybe that's worth a shot.

Re: Peer to Peer Loans – 0 for 2

Tom — Sun, 16 Dec 2007 21:29:25 -0000

Are you going to try again with LC now that they have opened the doors to all states?

Re: Prosper Loans go to 36% Nationwide

Tom — Tue, 15 Apr 2008 13:35:21 -0000

I think you have a solid chance of getting a loan now that rate caps have been eliminated. Especially since you have improved your credit grade from a C to a B.

If you request a smaller loan you will get a better interest rate. If it is important that you get the full $25K I would set the rate at the max possible and let the market bid it down.

Right now C grade loans are are going for 19.10% when the dollar amount is above $10K. At $25K the rates are going to be a bit higher than that.

Let me know when you put your loan request up and I'll put in $50.

Re: Social Lending is not Socialism

Tom — Fri, 25 Apr 2008 15:48:52 -0000

I just bid $50 on your loan. Good luck!

I'll work a link to promote your loan into a blog post this week.

Re: Prosper Loan – The Final Countdown

Tom — Sat, 03 May 2008 15:46:11 -0000

Congrats! I'm glad to see you got funded.

Re: LendingClub Loans

Tom — Sun, 11 Jan 2009 21:48:51 -0000

I know you tried to get a Prosper loan some time ago. Were you able to get a loan through Lending Club?

Re: Don’t Apply at Pertuity Direct

Tom — Sat, 24 Jan 2009 23:28:53 -0000

This reminds me of my experience trying to get a Zopa loan. They also did a hard pull before they closed operations in the U.S.

Re: The real reason the news business is in trouble…

Tom — Tue, 27 Mar 2007 21:53:54 -0000

I just did a short two week informal study on CNN. Click my name to read the results. Basically, I found that entertainment (celebrity) news was almost always the most popular news despite not being the "lead" news. The media is going to report what we are interested in and we have shown we read the news to be entertained, not informed.

Re: Researching for Linkbait Pieces

Tom — Fri, 13 Jun 2008 11:29:18 -0000

Not only digg, but searching other social media sites is a good source of ideas. StumbleUpon, reddit, etc