Thank you for that clarification! I was wrong. I misunderstood and thought that once you took out a 120 day loan type, that you couldn’t take out another one of those loan types for another 120 days (likewise for the 365 loan types.) I went back and reread the FAQ and their forum. I found this post, https://earnbyloaning.com/forum/viewtopic.php?t=209, which clearly explains that you can take out a new loan of the same type every 30 days, no matter the length of the loan.

This is great! I’ll need to redo my personal strategy. Thank you very much!!

Thanks,
Sharon

“Once you reach a maximum from your return and you want to re-loan with some of your profits, then you need to roll it to the next type or split it into two loan types. If you keep going, you’ll eventually reach the maximum.”

Again this is not entirely correct. You only reach the maximum within a given month. In other words, you have to start a new loan if you max out at a given level, but only within that month.

What is not mentioned is that if in the current month you have a 120 day loan for the max $25,000 (which is loan plan PLP2-4 for loans $1,000-25,000), you cannot make any more loans in PLP2-4 in this month. BUT what is not mentioned is come next month, you can actually make another loan in PLP2-4 for up to the maximum of $25,000. So in month #2, you would have 2 120 Day loans that would mature 1 month apart.

The FAQ used to have this information to try to illustrate this, but the end conclusion is that you can actually make new loans each and every month up to about $106,000, whether it comes from interest earned that is available to loan from past loans or from new money.

All their set-up does is maxes how much you can re-loan each month, but that max is hihg enough for most people, so not a bad deal.

Checl above about 5 posts up for a web site with lots of due diligence info located in one place.

You’re correct in enhancing my explanation about the loans. I was going for a simple explanation, as I understand it. The 30 day loan was just an example.

They have a number of loans available for each time period, 30, 120 or 365 days. There are 11 loan types in all. Each of the 11 has a maximum. The limit is that you can only have 1 of a given type of loan at a time.

Once you reach a maximum from your return and you want to re-loan with some of your profits, then you need to roll it to the next type or split it into two loan types. If you keep going, you’ll eventually reach the maximum.

This is different than most programs. Usually you can spend as often as you’d like, as long as you ‘re under the maximum. For example, lets say that you have $1,000 that you want to loan them for 30 days. Then a week later you have another $1,000 that you want to loan to them. You’ll have to wait until the first loan has expired or you’ll need to loan it via one of the other loan types.

There is a reason for this stipulation. Each loan type has a contract that you sign. That contract is renewable for an additional loan when the current loan expires. So, you can have up to 11 loan contracts. What they don’t allow is for you to have 2 of the same contract type.

Does this make sense or did I confuse the issue even more? LOL

JMO,
Sharon

I have talked to Mr. Jolly. I found him to be extremely knowledgeable on investment matters. He is a wealth of information! During our talk he explained why they don’t reveal what they do with the money that they borrow. The money you loan them is unsecured. If they tell you what they plan to do with it, it becomes secured. If it was secured, then it would fall under the SEC jurisdiction, due to their volume of loans. So, they can not discuss it with anyone that either loans them funds or might potentially loan them funds in the future.

However, Pensco Trust, a third-party, independent, financial institution, recently audited them for long-term viability. Pensco’s purpose was to approve a self-directed IRA for one of their members. They approved EBL. The rest of us benefit from the result by having the best DD done on any HYROL program on the net (that we know of.) Since they were specifically looking for long-term viability, we can also rest assured that EBL has what it takes to be around for the long haul, with or without new loaners.

JMO,
Sharon

So you only max out quickly on th e30 day loans (limit is $2,000)

But since the 120 day plan offers the best returns, especially if you factor in the effect of compounding, you are better off with the 120 day plan.

Meanwhile, you can check a ton of due diligence info gathered from the internet all in one place over here
http:/freewebs.com/4loan

I’m not sure how they came up with the numbers. They have said that they spent a lot of time calculating how much each loan should be. One thing about this program is that you can only have one loan for each plan at a time. For example, when you reach the maximum for the 30 day of $2K, you earn $300. The next month you can take out another $2K loan, but the $300 has to go to a different loan. It doesn’t take long before you max out and have to go to the next length of time in order to keep investing. So, if you just keep rolling over, you’ll reach the limit on how much you can loan.

I hope this helps!

HI Sarah_CA,

Shoot them an email explaining that you’d like to talk on the phone. They will arrange a time and provide you the phone number. They prefer to talk on skype, though. Kerry and Troy are often available on skype.

JMO,
SHaron

PayPal = 3%
Bank Wire – contact EBL Support
Check = $5 for US, $15 for international, extra fee for special delivery
Direct Deposit to bank = TBD

You can see the most up to date info at this link, at least until the new website is up (I suspect the details will be maintained in the FAQ after that):
https://earnbyloaning.com/forum/viewtopic.php?t=219

The minimum loan deposit is $30. The referral fee is 5%. All of the information is on the website at earnbyloaning.com.

Rico

Anyway…hope you guys are looking forward to the new site.
Regards
Troy
EBL support

I am one of the first to invest with EBL. Since investing I have quadrupled my money and have withdrawn a third of my initial investment . My account continues to grow every day and I can keep track of it. Support is right there either by e-mail or Skype.

So far so good. Soon I will have my initial investment back. The rest is gravy.

MrDale

The "Status" field with the "Default on" date means that the information defaulted from last year’s info. That is, nothing has changed. It does not mean that the corporation is in default.

They have disclosed on their forum that they trade in Small Caps/OTC. I would prefer that they disclose a bit more, but they aren’t going to.

There are two things that inspires my confidence in them…

1. PayPal has investigated them, their business plan, and their portfolio. It took a month, but PayPal approved them in the end. PayPal does not approve ponzis. So, IMO, a trusted entity has seen and verified that they are truly using member’s loans to produce returns outside of the program.

2. They are the first ones I’ve seen, that are public knowledge, to gurantee the returns. Everyone else has a disclaimer in their TOS about returns not being guaranteed. They go one step further and bond that gurantee withe a written contract, signed by the lender and the borrower.

Is their lack of further disclosure then only thing that makes you distrust them? Please elaborate on your opinion.

Thanks,
Sharon

A: We are active in the investment community and financial markets.”

Wow! That statement really inspires a lot of confidence! And they guarantee it with contracts?!?!?!?

I find it amazing that some people still fall for this stuff.

I did the calculations and you don’t lose money, you just don’t make much if you invest in the 30 days and then withdraw everything. However, there are no fees if you roll over the amount into another 30 days. If you’re going to do the 30 days, then roll for 2-3 months, then start withdrawing a portion of the profits, until your principal plus some profits are removed.

I think that it is a good thing that you don’t make much with one loan in 30 days. It will keep the HARs out of it. EBL isn’t going anywhere anytime soon, so doing a couple of months roll over or selecting the longer term plans is a safe choice. However, don’t continuosly roll over for ever. The idea is to make a profit and you need to withdraw to do that.

JMO,
Sharon