“You can only help people as much as you’ve helped yourself. You can only lead somebody as far as you’ve gone yourself.” @LendingMemo

“The money can be in your checking account in 3 or 4 days – it’s amazing!” @LendingMemo

Simon Cunningham joins us on the coffee chat today to talk about Social Responsible Investing through peer-to-peer (P2P) lending and how it helps people get out of debt.

We’ll be talking a lot about how to get the most out of P2P lending and how to be a socially responsible investor.

Simon is the owner of LendingMemo.com and he’s creating an awesome, interesting mission that explains how this is the first time in history that Americans can borrow and lend on a larger scale.

On this Coffee Chat:

  • What influenced Simon to get into peer-to-peer lending
  • How Lending Memo was born
  • Socially responsible investing (SRIs) and the tradeoffs between performance and altruism
  • Which should take priority – the mission or the returns?
  • How not to get into the rabbit-hole of determining the truth behind companies’ corporate social responsibility statements.
  • Simon’s mantra for investing: “Keep it simple.”
  • Peer-to-peer (P2P) lending helps people get out of debt
  • The brilliant idea of fractionalized loans
  • P2P lending is like crowdsourcing a loan
  • How Simon came up with the idea of P2P lending
  • P2P lending gives investors access to a great return
  • How you can receive money from P2P lending in just 3-4 days
  • Simon’s advice: “Don’t put 100% of your assets in ANY single investment.”
  • In general, to have positive returns in P2P lending, you need 200 borrowers to have a balanced, diversified account
  • How to make sure you’re a socially responsible investor
  • Simon’s opinion on B corps (benefit corporations)
  • Simon’s overall opinion on debt – is it OK to be comfortable with it or should you stay out of it as much as possible?

Links:

(Psst: Email me a screenshot of you leaving an iTunes review of the podcast and I’ll send you a copy of Michael’s book. Ends June 1st)

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