A Net Annualized Return of 11.06%? I’ll take it!

Lending Club is a social lending network that brings together investors and creditworthy borrowers to provide personal loans at rates that are generally better than those offered by traditional banks.

I opened an account with them last year, purchased Notes, and made my investments. Each Note corresponds to a portion of a consumer loan, and grants me the right to receive payments received by Lending Club under that consumer loan, minus a 1% service charge applied by Lending Club.

So far it’s been a great experience, partly driven by my net annualized return. As of today it’s at 11.06%.

That’s a heck of a lot better than the “high-yield” CD rates that are out there. It’s not as high as some other investments I’ve made in commodities over the last two years, specifically precious metals and a number of mining stocks, but it’s been a good alternative to the stock market for a portion of my portfolio. Plus, I feel like I’m helping people who got completely screwed over by the banks, the Fed, and the government in general. So there.

Hey - if you’re even remotely interested in investing with Lending Club, let me know and I’ll send you an invite from my account. Right now, they’re offering a no strings attached, no junk mail, $40.00 to invest in your account deal for joining. [and no, I don’t get anything out of the deal]

Drop me a line in the comments below or send me a private note via email or my contact form.

If you’re already using Lending Club, let me know. I’m interested in hearing about your experience with the company.

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