Frequently Asked Questions

Registering on PeerCube is easy! We only require minimal information for registration: Username, email address, and password. Once you submit your information, you will receive an account activation email from us. Follow the link in the email to complete the registration process.

If you don't receive activation email within few minutes of registration, please check your Junk/Spam folder. Normally, this issue is encountered by users using AOL or Hotmail email address. Please contact us if you encounter any issue activating your account.

You can create a loan filter to select loans you'd like to invest. The filter can be saved for your future use. You have the option to load the saved filter. You can also delete the saved filter. You can create and save as many filters as you like.

To create filter:

  • Default criteria are set for each filter attribute field. Change parameters as you wish. Do not leave any field blank.
  • See the question below for guidance on how to select options from dropdown lists. You most likely want to select multiple options for Loan Purpose, Loan Grade, Location, etc.
  • If you want to save the filter, click the check box for "Check to save filter criteria."
  • Filter Criteria name field is automatically filled. You may change the name as you like.
  • Click "Filter Loans" button to see the filtered results.
  • Maximum 100 loans are displayed on the result page. If more than 100 loans met your criteria, we suggest changing your criteria to limit the number of loans displayed on the result page.

The list of loans based on your filter criteria is displayed on Filtered Results page. You can display up to 100 loans on one page by changing the number in "Show" dropdown list.

  • Click “Details” button for the loan you want to see the detailed information on. The Loan Detail page will be displayed in a separate browser tab or window.
  • Funding Progress bar shows the status of funding by lenders.
  • You may rate the loan by selecting Stars under Peer Rating.
  • You may make notes on the loan. Type in your notes (up to 500 characters) and submit.
  • Your notes will be displayed under Peer Opinions, at the bottom of the page. It is displayed to all your peers. You can also read notes of your peers.
  • If you like the loan, click “Lend”. The order is placed through Lending Club API. You must have supplied Lending Club API credentials to use this feature.

You can access Loan Detail page using one of the following methods through Loan Review navigation button:

  • By typing in a specific Loan ID.
  • Through the list of Top rated Loans.
  • Through the list of loans with most peer opinions.
  • Through the list of up to 30 loans you reviewed most recently.

The Loan Detail page displayed is same as the one displayed through Filtered Result page.

In order to select all options, press Shift key on keyboard and click on the last option in the list with your mouse pointer. In order to select few options,, press Ctrl key and click with mouse pointer on the options you desire.

Similar to experiences of most other web services, Internet Explorer is a beast we have trouble handling nicely too. Below are some of the suggestions that may help in making your experience better:

  • Clear the cache in Internet Explorer.
  • Change Internet Explorer default setting of Cookies blocked. We use cookies at PeerCube to make experience of our users better.
  • If you have multiple cookies from PeerCube in your Temporary Internet Files folder, please delete them and try again.
  • Go to Internet Options > Privacy > Advanced. Click Override Automatic Cookie Handling (make sure it is checked). For first party and third party cookies select accept as an option. Click Always Allow Session Cookies (make sure it is checked). Click OK.
  • If you are using Internet Explorer 7, please consider upgrading IE or use a different internet browser. We recommend Google Chrome.

We update our currently available loan data every minute to up to every thirty minutes. Historical loan data is updated once a day.

Not at all, we are not connected with any of peer to peer lending platforms. We are lenders on Lending Club and Prosper peer to peer lending platforms. We built PeerCube primarily to serve our need for collaborative and speedier decision making during loan selection and lending process. Considering that most lenders lend small amount in each loan, it didn't made sense for us to spend too much time selecting loans.

To calculate the Gross Effective Yield (GEY), all interest received on borrower loans net of servicing costs for such loans, are aggregated and then divided by the average of amount lent and outstanding principal for such loans. To annualize the yield, it is divided by the average age of the loan portfolio and then multiplied by 365. More information is available in the footnote at Prosper Marketplace Performance.

GEY decreases with smaller interest payment, larger remaining principal, new loans in portfolio without any interest payment yet and older loans in the portfolio.

Only Lending Club and Prosper provide us data on historical performance and currently available loans. We are open to adding other marketplace lending platforms when they start to provide lending data to PeerCube. Below is a list of marketplace lending platforms that we are aware of.




Risk Index, also referred as Bad Loan Experience Index or BLE Index, is a proprietary algorithm developed by PeerCube. We previously provided details on Risk Index in several posts on our blog. Please refer to our March 2013 Newsletter for summary information on Risk Index.

PeerCube offers automated daily portfolio update using Lending Club and Prosper API for all users. The Automated Lending on Lending Club and Prosper platforms is offered to Pro Plan subscribers only. Please refer to blog post Best Practices for Automated Lending on Lending Club and Prosper Platforms through PeerCube for more information on setting up automated lending.

PeerCube also provides three pre-defined loan filters based on Risk Index:

Automated Lending is only available to PeerCube Pro Plan Subscribers.

Please follow the steps listed below to add specific Notes to your buy order on Lending Club FOLIOfn Secondary Platform:

  1. Login to your Lending Club FOLIOfn Secondary Market account and navigate to Browse Notes page. Loosen the filter criteria as much as possible to include maximum number of notes or at least the notes you are interested in.
  2. In a new Browser Tab or Window, type the address Replace 1234567 in address with the Note ID. 987654321 is just a random number. Repeat this step for all Notes you want to select.
  3. Type the address in Browser. 987654321 is the same random number used in Step 2.
  4. Refresh the Browse Notes page as in Step 1. Click the View Order button to review and finalize your order.

The NOT_AN_IN_FUNDING_LOAN response is received sometime from Lending Club API when an order is placed. The response indicates that the loan is no longer available for funding, either it has been fully funded or removed from listing.

If you review Lending Transaction History for Lending Club on LC Automation page, you may notice that a few Order Status will show NOT_AN_IN_FUNDING_LOAN. These orders were for the loans that were detected as available but by the time order was placed with Lending Club, loan was fully funded and became unavailable.

The Recent Activity section of Portfolio Analysis Overview page shows the Placement Success percentage. This is the number that shows how effective PeerCube has been in placing order through API.

A list of order execution response codes is provided by Lending Club at API Submit Order page.

There are two challenges we encounter when estimating the performance of your portfolio:

  • We don’t receive “timely” information on the payments received each month and loan status of loans in your portfolio using Lending Club API. This prevents us from accurately estimating the Net Annualized Return (NAR) for your portfolio.
  • We don’t have access to the starting and ending account balances and cash deposits in and cash withdrawals from your account for every period. Lending Club doesn’t provide such information about your portfolio. This prevents us from estimating your account returns using any of the time and dollar weighted return methodologies such as Internal Rate of Return (IRR) or Modified Dietz Return.

With the constraints described above, we adopted a simplified approximation for portfolio performance based on the methodology described in the footnote at Prosper Marketplace Performance. Please see the FAQ question “How does PeerCube calculate Gross Effective Yield (GEY)?” for details on our methodology.

In addition, we apply two constraints based on our understanding of using annualized returns for portfolio performance measurement that will reduce the reported portfolio performance:

  • We do not annualize the returns for loans that have been issued for less than 12 months. After reviewing the various literature on portfolio performance evaluation, we believe the average “per year” in this case might be misleading. Peer to peer lending loans are amortized and each monthly payment includes interest as well as a small fraction of original investment. With time, the fraction of interest amount in monthly payment goes down, i.e. much higher interest is received in the first year of the loan. Annualizing the returns during first year will artificially inflate the returns of portfolio.
  • Unlike Lending Club approach described in How We Measure Net Annualized Return, we do not annualize the charge-off amount. Charge-off is an one-time event in the life of a loan and should not be treated as a recurring event. In our opinion, the impact from only recurring events should be reported on annualized basis. The annualized charge-off amount will report inflated losses if charge off event occurs in less than 12 months or will report reduced losses if charge off event occurs after 12 months of loan being issued. Most charged off Lending Club loans tend to be written off more than 12 months after being issued resulting in artificially inflating the performance if charged off amounts are annualized.

These two adjustments in our methodology typically will result in portfolio performance that is lower than reported by other medium.

PeerCube enables users to update their portfolio either manually by uploading their notes files or by providing Lending Club API credentials for automated updated. By using Account Number, users get the flexibility to use both update methods in tandem and proper portfolios are updated without duplicity. Without the account number, it will not be possible to reliably synchronize the manual and automated updates of portfolios as LC API only provides update using account number. Any error in provided account number along with account nickname will result in incorrect portfolio statistics.

Actually PeerCube provides an smarter filtering feature. In any table with a Search input box on the right side, just enter the filtering keywords, for example account number, to only display rows in table that match the specified keyword, for example account number.

The portfolio update can take up to 24 hours after submitting Lending Club API credentials as the update is scheduled to be performed only once a day during non-business hours. You should be able to review the analysis of your portfolio next day.

There are three methods to correct erroneous data entered at Portfolio - Data from Monthly Statements depending on the type of error made.

  • Incorrect Amount Field

    Resubmit the same entry with correct data for Amount field. The new entry will overwrite the old one.

    For example, the following entry was made with incorrect amount $5,013.09 instead of correct amount $7,053.90.

    Account Number: 123456, Transaction Date: 2015-05-01 Transaction Type: STARTING_ACCOUNT_BALANCE, Amount: $5,013.09

    To correct the incorrect Amount field, just resubmit all other fields as before but enter correct value $7,053.90 for Amount field.

    Account Number: 123456

    Data Type: Starting Account Balance

    Date: 05/01/2015

    Amount: 7053.90

  • Incorrect Other Fields (excludes Amount Field)

    Resubmit the previous incorrect entry with 0.00 for Amount field. Then, submit a new entry with correct data for all fields. Now you will have both entries in your recent transactions table, one with incorrect field and amount $0.00 and another one with the corrected field and correct amount. The incorrect entry with $0.00 amount will not impact the estimates.

    For example, the following entry was made with incorrect transaction type of Cash Withdrawal instead of correct transaction type of Cash Deposit.

    Account Number: 123456, Transaction Date: 2015-05-01 Transaction Type: CASH_WITHDRAWAL, Amount: 1,000.00

    To correct this error, two entries need to be made.

    First Entry

    Account Number: 123456

    Data Type: Cash Withdrawal

    Date: 05/01/2015

    Amount: 0.00

    Second Entry

    Account Number: 123456

    Data Type: Cash Deposit

    Date: 2015-05-01

    Amount: 1000.00

  • All Other Errors

    If the above methods don't work for you, please send us a message through Contact page or an email message describing the issue and your registered email address. With email message, please include screen capture of Recent Transactions table displaying incorrect entries and the field you would like us to change with incorrect and correct values.

Not all information about your Lending Club account is available through Lending Club API. The API doesn't provide information about Cash Withdrawals, Cash Deposits, and past Account Balances.

We only request minimal information (Starting Account Value and Cash Deposits/Withdrawal) to be entered manually at Lending Club Portfolio - Data from Monthly Statements. This information enables the display of your portfolio returns at Portfolio Overview page.

PeerCube subscribers can see the impact by comparing chart for Daily and Rolling 30-Day Returns that doesn't include cash withdrawal/deposit information with chart for Monthly Returns that includes cash withdrawal/deposit information.

The Automated Lending process runs when PeerCube service detects new loans.

Lending Club automatically releases whole loans, not funded by institutional clients, to fractional loan pool for retail lenders 12 hours after being listed originally as whole loans. The loans originally listed as whole loans at 10:00AM and 2:00PM become part of fractional loan pool at 10:00PM and 2:00AM.

When PeerCube service detects such loans as new loans in fractional pool at 10:00PM and 2:00AM, automated lending process runs and funds loans that meet lending criteria of PeerCube subscribers.

Please take following steps to remove your information from PeerCube:

Account > Lending Club > Primary Platform Automation page: Remove LC API Credentials and Automated Lending Settings.

Account > Lending Club > Secondary Platform Automation page: Remove FOLIO Automated Buy and Sell Settings.

Lending Club > Portfolio Analysis > Manage > Delete Accounts: Delete listed accounts.

Lending Club > Loan Filters > Your Loan Filter: Delete listed filters.

Lending Club > FOLIOfn Platform > Automated FOLIO Selling > Saved Sell Filters: Delete listed filters.

Lending Club > FOLIOfn Platform > Automated FOLIO Buying > Saved Buy Filters: Delete listed filters.