I'm cheap, so I'm waiting ever so patiently for LC to come out with its own auto-invest tool. I can usually find a couple or more loans that meet my criteria each day, and then I usually invest $50 each as I don't need to diversify my account much more.
I do think LC really needs to think twice how they are treating small individual investors. If it wasn't for us risking a few hard-earned dollars from our bank account and trying things out for the past 6 years, LC would not be where it is today.
From an IT perspective, it is less cumbersome to have just a few investors contribute to each loan. On the other hand, this feeding frenzy they've created 4 times a day is not so good on their servers especially as demand increases and third-party robots keep looking for loans. I think we are seeing the effects of that with slower payment processing and loan status updates. My recommendation is to restrict the amount that can be invested per user to, say, $100 for the first 24 hours a loan is posted, and then the institutional investors can swoop in after that.
I do think LC really needs to think twice how they are treating small individual investors. If it wasn't for us risking a few hard-earned dollars from our bank account and trying things out for the past 6 years, LC would not be where it is today.
From an IT perspective, it is less cumbersome to have just a few investors contribute to each loan. On the other hand, this feeding frenzy they've created 4 times a day is not so good on their servers especially as demand increases and third-party robots keep looking for loans. I think we are seeing the effects of that with slower payment processing and loan status updates. My recommendation is to restrict the amount that can be invested per user to, say, $100 for the first 24 hours a loan is posted, and then the institutional investors can swoop in after that.