Getting Ready To Trade Notes
I previously wrote about my experience with Lending Club. None of my loans have turned rickety and I have even signed up for FOLIOfn’s Note Trading Platform. Here is what Lending Club has to say about trading:
If you are a Lending Club lender and wish to sell some of your Notes, or buy Notes currently held by other lenders, you can now use the Note Trading Platform operated by FOLIOfn, member FINRA/SIPC. You will need to open an account with FOLIOfn, but you can use the funds available in your Lending Club account to buy Notes through the Trading Platform, and receive the proceeds of any sale of Notes (minus a 1% trading fee) directly into your Lending Club account. Only Notes that were issued after October 12, 2008 can be traded on the Trading Platform.