/biz/ - Business & Finance

>>52932895
I'm getting 6% after having I'd venture about 20 loans per year defaulting. You don't invest everything in one loan. I have about 60 active loans. I'm working on investing more per loan to get that number of loans around 40.
>>52932901
Yes, interest income is taxed just like a savings account (well the tax rate is like a savings account) gross interest is reported on a 1099-INT, charge offs are reported on a 1099-B. I ran it up to 10k, and pulled out around 5,500 to fund other things. You can only withdraw cash, not any invested loan principle. Monthly payments consist of two parts principal payment (no tax) and interest (taxable).
>>52932917
Early repayments are great, yeah I have to reinvest the money, but I get interest on your balance until it's paid off.