Lend Academy Network Forum

Lending Club Discussion => Investors - LC => Topic started by: Fred93 on November 29, 2014, 04:25:25 PM

Title: Million dollar income CEO; seeks $35k loan
Post by: Fred93 on November 29, 2014, 04:25:25 PM
https://www.lendingclub.com/browse/loanDetail.action?loan_id=36310434

Oh yea.  You can find lots of CEO, COO, President job titles >$200k, but this is the only million buck salary I've seen on LC.

Income is not (at this time) verified.

Title: Re: Million dollar income CEO; seeks $35k loan
Post by: standby on November 29, 2014, 04:34:34 PM
This guy is a lousy bet anyway based on his loan history.  About the high income,  I am put off right away by the need for more money.  It makes me feel that they are not very good with their money.  It also makes me wonder if they are putting in a backstop in case they need to file bankruptcy.
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: PeerSocialLending on November 29, 2014, 07:02:47 PM
Why even bother? If I scaled this to my income, I'd never consider a loan so small.
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: rawraw on November 29, 2014, 08:30:25 PM
Why even bother? If I scaled this to my income, I'd never consider a loan so small.
I see a lot of wealthy people's financials and its often shocking how little some of them actually have.  Normally the credit card and the wife's expenses are almost as much as what comes in and sometimes can actually be financed as well.  Who knows what this guys case is, or if its just a typo
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: Fred93 on November 30, 2014, 01:36:57 AM
Nickelsteamroller says over all time there have been 46 LC loans where the borrower claimed >= $1M annual income.

Of these 19 had verified income.
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: MarinBB on November 30, 2014, 01:56:19 AM
And of the 51 million dollar-plus annual income loans in the historical file, zero now have a status other than "Current" or "Fully Paid". Seems like a pretty good bet ... if you're into small sample sizes.
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: Prescott on November 30, 2014, 04:36:31 PM
It could be someone who wants to test LC's processes.
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: Fred93 on December 04, 2014, 12:24:00 PM
https://www.lendingclub.com/browse/loanDetail.action?loan_id=36421459

Here's a guy who says he makes $2,252,880 / year.  Title: n/a   Length of employment: n/a  Asking for a $20,000 loan. 

Surely this one is another typo where he entered annual salary when asked for monthly, eh?
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: rawraw on December 04, 2014, 12:28:11 PM
https://www.lendingclub.com/browse/loanDetail.action?loan_id=36421459

Here's a guy who says he makes $2,252,880 / year.  Title: n/a   Length of employment: n/a  Asking for a $20,000 loan. 

Surely this one is another typo where he entered annual salary when asked for monthly, eh?
Even if divided by twelve, he makes $187M
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: Booleans on December 04, 2014, 02:24:55 PM
https://www.lendingclub.com/browse/loanDetail.action?loan_id=36421459

Here's a guy who says he makes $2,252,880 / year.  Title: n/a   Length of employment: n/a  Asking for a $20,000 loan. 

Surely this one is another typo where he entered annual salary when asked for monthly, eh?
Even if divided by twelve, he makes $187M

$187,000 * 12 / 12 = $187,000
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: rawraw on December 04, 2014, 02:35:54 PM
https://www.lendingclub.com/browse/loanDetail.action?loan_id=36421459

Here's a guy who says he makes $2,252,880 / year.  Title: n/a   Length of employment: n/a  Asking for a $20,000 loan. 

Surely this one is another typo where he entered annual salary when asked for monthly, eh?
Even if divided by twelve, he makes $187M

$187,000 * 12 / 12 = $187,000
What?
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: Booleans on December 04, 2014, 03:57:28 PM
https://www.lendingclub.com/browse/loanDetail.action?loan_id=36421459

Here's a guy who says he makes $2,252,880 / year.  Title: n/a   Length of employment: n/a  Asking for a $20,000 loan. 

Surely this one is another typo where he entered annual salary when asked for monthly, eh?
Even if divided by twelve, he makes $187M

$187,000 * 12 / 12 = $187,000
What?

My mistake. I read your "$187M" salary as "187MM".
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: Fred93 on December 04, 2014, 06:06:33 PM
My mistake. I read your "$187M" salary as "187MM".

Funny thing... Engineers use K to mean Thousand and M to mean Million, and finance people often use M to mean thousand and MM to mean Million.  Causes lots of confusion at my company. 
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: core on December 04, 2014, 06:30:20 PM
Funny thing... Engineers use K to mean Thousand and M to mean Million

I would hope they use 'k' to mean thousand and 'K' to mean Kelvin.  Otherwise I don't want want them designing anything that's getting near me.
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: Victor on December 04, 2014, 08:03:22 PM
Funny thing... Engineers use K to mean Thousand and M to mean Million

I would hope they use 'k' to mean thousand and 'K' to mean Kelvin.  Otherwise I don't want want them designing anything that's getting near me.

k = Thousand

M = Million

Anything else is from the evil one.

Put me in league with the engineers and adamantly opposed to the finance people.
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: rawraw on December 04, 2014, 08:36:05 PM
Funny thing... Engineers use K to mean Thousand and M to mean Million

I would hope they use 'k' to mean thousand and 'K' to mean Kelvin.  Otherwise I don't want want them designing anything that's getting near me.

k = Thousand

M = Million

Anything else is from the evil one.

Put me in league with the engineers and adamantly opposed to the finance people.
M is the Roman numeral for 1,000

Romans came before the metric system.  Plus, using the metric system in any fashion is not American.  You are American, aren't ya?
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: core on December 04, 2014, 08:38:53 PM
Plus, using the metric system in any fashion is not American.  You are American, aren't ya?

Rut roh, here we go again.  But in this case I agree with Victor.  Finance people are Satan's tools.
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: Victor on December 04, 2014, 10:16:38 PM
Funny thing... Engineers use K to mean Thousand and M to mean Million

I would hope they use 'k' to mean thousand and 'K' to mean Kelvin.  Otherwise I don't want want them designing anything that's getting near me.

k = Thousand

M = Million

Anything else is from the evil one.

Put me in league with the engineers and adamantly opposed to the finance people.
M is the Roman numeral for 1,000

Romans came before the metric system.  Plus, using the metric system in any fashion is not American.  You are American, aren't ya?

To paraphrase Samuel Johnson, Roman numerals are the last refuge of the scoundrel.  To quote Samuel Johnson, "Patriotism is the last refuge of the scoundrel."

The Romans did so many things so very well.  Numbers weren't one of them.  Also, I am not American.  I am Roman.  I can't stand our stinking numbers.  They're only fit for use as the copyright date at the end of the credits of a movie.
Title: Re: Million dollar income CEO; seeks $35k loan
Post by: rawraw on December 05, 2014, 06:42:38 AM
Caesar weeps.