Maybe not daily because not all calendar days are business days. In 9 of the last 14 business days, I received interest payments on loans held with a P2P lending platform. There was an old TV commercial for Smith-Barney, an investment house. They claimed ‘to make money the old-fashioned way, they earned it’. Do it the new way and let some other guy do the heavy work. Just get the passive income!
What is P2P lending? Peer-to-peer lending (P2P) allows individuals to borrow and lend money without a traditional financial institution like a bank or credit union. An alternative form of lending, P2P allows borrowers to obtain financing at potentially lower rates, without major paperwork or even with bad credit. P2P platforms are like an online market where borrowers pay a specific interest rate to people willing to loan the money.
In most P2P arrangements, multiple people may contribute to a specific loan or loans. Each borrower has a profile with a credit rating, reason for the loan, payment period (up to 60 months) and rate.
Grades for borrowers range from A (best) to F, based on credit score. Interest rates are higher for lower grades and default rate is higher, too.
So here is my total for the last 20 days, 14 were biz days. I only have a couple hundred dollars allocated, so daily payments are small.
The usual warnings apply – prior performance doesn’t predict future results and your return may be different than mine, etc.
And since no one writing here is an financial or invest professional, our suggestions are just that – suggestions. Do you own due diligence!!
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