I agree with you that fast beats sliow, but once you get funded and get what you want would you still give it a 4/10?  I think once you are funded you will be VERY HAPPY!!!

Now I am not arguing with you or saying a slow response is OK, BUT I think they are growing and getting TONS and TONS of new users and loan requests and as they grow they will hire more support.  In the digital world we are used to things being very fast, but it would be VERY normal for a bank to take 1-2 weeks to approve a loan.  If it takes 3-4 days for your loan to go live, that really is not bad in the grand scheme of things, although I agree it is frustrating when you expect it to be done in 1-2 days.

The reason I am OK with it is because I think they are evolving and learning as they go: They called me on the phone, and are taking more time verifying loans.  If they have 100's of loans to review, and the number of loans is exponentially increasing, this takes more and more time.  If they are overrun with scammers, we won't get loans, so doing this process increases the number of quality loans and decreases defaults which makes for many more happy investors and keeps the site going long term.  I want this site to thrive so that borrowers myself can keep using it until I have great FICO scores (and I still will use it then), but for now while I am recovering from graduating in 2008 and not being able to repay student loans since it took me too long to find a good job (the % of income cap on student loans was only introduced recently and I had trouble finding a career type job during the economy sucking since I had to pay 350-400 to stay current I couldn't).  The BTC loan system allows me to get loans since I have a good income now, and it is really cool and really impacts my quality of life to have a way to fund my business!

It TOTALLY sucks that your loan is taking so long and I definitely agree with and feel your frustrations.  All I am saying is that next year or two, when you want another loan for newer equipment, this type of diligence will ensure quality investors are still around and that the site is still around.  I REALLY hope that your loan is listed early next week, if you want to post the link or just msg to me I will invest a small amount (I can't do much until I get a lot of profit from my business since I am paying back a loan now, but every buck or 2 helps!) 

Post back once your loan is listed, they are closed on the weekends but I usually see loans go live Saturday I think they are working extra to get the backlogged loans live.  They never post loans Sunday which is good they deserve a day off.  If they review loans well they will do well and be able to hire new support members.  If your loan takes a week to go live I will be upset for you!  I would bet your loan goes live tomorrow on Saturday, or Monday (I would be absolutely shocked if Tuesday comes and goes and it is not live but I really think it will happen long before that).

I was very impatient about my income verification because it took a few days and I expected 1-2, but I would rather something takes 3.5 days and is done right than is rushed, and I hope they keep growing so they can hire more team members and keep doing what they are doing long term.  It feels like FOREVER when you expect 2 days and it takes 3 or 4, but I assure you that your loan will be live soon and you will be very happy when it does, and I bet this is still way faster than a bank or traditional method.  Once your loan goes live if it is for a small amount it will be funded in a cpl days, so even if your loan took 4 days to go live, you could have the coin on day 6 or 7!

I am not a shill, I was equally impatient and frustrated waiting for my verification of income to be done when it went over 2 days, but once it was all done and my loan went live and got funded and the entire process took 5-6 days from opening the account to being funded, I really can't complain.  When you want something bad and it is important to you, every day you wakeup and check your email and there is nothing from them it drove me crazy, but looking back on the process, everything went well and I am very happy.

I REALLY hope your loan goes live soon, gets funded, and you are as happy as I am with them looking back on the whole process once you are funded.

Very interesting point, and it is good to hear that someone is profitable as I see some horror stories online and some great reviews, but not many unbiased neutral ones.  I think more people complain online than post positive occurances, so it is nice to read your post with a neutral point of view (not a hater and not a shill) which is rare!

I know investors with good histories can default, but do you think some kind of pool of investors sharing experiences and good borrowers could help?  Of course this would be kept within the group so I cannot see it violating TOS in anyway, but I could see just like people share stock tips and such, that a group of investors that stuck together could be useful to each other.

I based my thoughts off of my own common sense as far as thinking diversification would help, but I can see where your point about picking the right ones and not stretching out too much could be successful, so very interesting points.

BTCJam Review (Borrower and some minimal investing, will update more investing reviews after much more time and diversification.)
*I Post this in other areas and was told that it should be post in this section, the area I post this in originally, well let us just say they did not like me posting in the wrong area, so here I am.

I have been a member 1 week, so this is a review of the process of joining, the document review process, and my interactions with support.  I created my 1st loan today and it is in the review process.  I will update this thread after it is approved, I am funded, and pay back the loan.  I will update this with additional information and reviews about my investing on the site, and any overall observations and experiences as a borrower and investor.  I have seen many lopsided reviews for the site either overly negative or positive, so I thought a more realistic point of view would aid some.

Additionally, I have read MANY past loans, and most of the current loans waiting for funding so I could learn more about the type of loans, interest percentages, and which borrowers repay loans and what type default (not that there is any guarantee, but there are definitely trends, EXAMPLE: There are plenty of legitimate loans for trading and mining, but I would expect these type of loans to show some type of business plan, and past gains if it is not a new venture.  I would also want to see detailed plans.  Nothing would deter me more than 1 sentence loan request for mining or trading as those are very generic categories that scammers could use, since many real loans are in those categories.  Most scammers are not creative or they would have a real job so they use common loan categories and very short descriptions.  I have also noticed that most of the loans with detailed information and specifics about their business do not default, where as the ones that do are very vague. I believe from talking to some investors that the people who lose money investing only use the credit rating and not their own judgement, and the profitable ones invest in many credit ratings but have better personal judgement about the loan descriptions, AND ask many questions if they have them and do not invest until the get a satisfactory answer).

Signing up - VERY easy, the site is user friendly, and has detailed descriptions.  There are also YouTube videos by some users who have signed up that someone can watch to get help signing up.

Verification - Some documents were verified within hours of signing up.  Some took a few days.  I grew concerned when my income took several days only because I am impatient, but I imagine they have tons of users and since they check things over it takes time.  Although it took slightly longer than the 1-2 day window, it was not much longer than that so I have nothing to complain about.  I would rather they thoroughly check things than rush them, so although I was impatient, everything went fine.

Support - Some people complain about support being slow.  As I mentioned regarding verification, they probably get TONS of support requests.  I received emails within about 2 days from a support member.  Friday (Today) is the day I submitted my loan about 1pm.  I emailed support to see if anything else was needed, and got an email back within hours unlike the previous response that took a day or 2.  They even asked if they could call me to go over some details, and called within an hour or so of me confirming time to teleconference.  I was VERY impressed that they took the time to personally reach out to me, so although I can see where some people are frustrated that some responses take days, I think they have a good support team that is simply slammed with support tickets so they can get backlogged at times.  I hope as they grow they hire more support, but at the same time I cannot complain about a support ticket that was answered by email and phone within hours, and the one that took a few days was no big deal either since it was just me being impatient wondering what was going on with verification as I wanted it done immediately.  A cpl extra days feels like weeks when you are waiting for something, and I can see where someone who has $ tied up or a problem with a financial matter could become impatient, but overall I think they get back to people as fast as possible and offering great quality support although there can be delays and things can take slightly longer than a user may want, I never experienced massive delays like reported by some users and was overall very happy with the experience, especially after receiving a personal call to go over my loan and personal details as I thought this shows they really care about their users and actually spend time reviewing each loan (it is not just something they say they do and push them through without looking at them).  Support might not take an hour or two like many want, but would say 48 hours or 72 maximum and they get back to you, so the people reporting months are either bitter scammers, or people who had a very different experience than I did.  So I would say they are not perfect, but so far have been very good to me.

Loan - The process was easy to do, I submitted my loan around 12:30pm on a Friday.  It is in the review process.  I would be surprised if it is not live for funding on Monday, Tuesday at the latest.  I will email support if it is not up by Tuesday, as I believe the squeaky wheel gets the grease.

I will update as my loan is funded, any future positive/negative interactions with support, and about the process of getting funded and communicating with any investors.  

So far I made small investments, 1 has paid early, I will update information about investments only once I have invested a very small amount across 100+ handpicked accounts as I believe diversification to be a fair judge of profit loss.  The 2 factors I think are necessary are 1) 100+ investments AND 2) handpicked investments, not just investing in 100+ but picking them based on judgement that includes but is not limited to the rating as I think it is important to go through each business plan personally whether it is an A or D rating as I would not invest in any 1 sentence loan because if they cannot take the time to write a proper business plan I cannot be bothered to fund it.  I don't care if it uses google translate and is in broken English, I just want fleshed out details. So I would say using more than just rating, and using personal judgement is key, if this makes one uncomfortable then investing might not be for that person.

Feel free to ask any questions, as I go through the process I will post here and go through it with you.  I am happy to use this site, as a college graduate who is just getting my career launched, credit can be difficult and I supported bitcoin even before this site as I like the idea of a currency that is for the people and not by a government (decentralized).

I would rate them 90%, or 4.5/5 Stars.  Not perfect but they have been good so far.  If that changes I willl edit, as I am not a shill, but I am tired of the internet only having negative reviews because most happy people don't say a thing, while bitter people complain.

thank you.  I will only post in this forum regarding loaning and getting loans with collateral now that I know that is what this area is for.  sorry to be a bug in the wrong place.

I promise I am not seeking investors,without a link there will be no way to attract investors.  I imagine as I go along there will be negative and positive experiences, and thought some people would like an unbiased opinion since there are so many shills out there.  I only learned about this site from their site that is why my account is new.  I am active on LBC.

If there is a better sub thread I should be posting on I can post there, I apologize if this is in the wrong place.

Without a loan link, no one can invest with me, and I WILL NOT post any loan links ever on the forum, so sorry to burst your bubble but I am not promoting any loan here at any time.

Where should reviews be posted?  I assume Lending since it was loan related, but I would rather post in the right area because I would like to see some neutral information out there that states the good and bad and not just extremely 1 sided as many posts read as if bitter banned scammers wrote them or shills so i wanted something from a real person out there.

I have been a member of BTCJam 1 week, so this is a review of the process of joining, the document review process, and my interactions with support.  I created my 1st loan today and it is in the review process.  I will update this thread after it is approved, I am funded, and pay back the loan.  I will update this with additional information and reviews about my investing on the site, and any overall observations and experiences as a borrower and investor.  I have seen many lopsided reviews for the site either overly negative or positive, so I thought a more realistic point of view would aid some.

Additionally, I have read MANY past loans, and most of the current loans waiting for funding so I could learn more about the type of loans, interest percentages, and which borrowers repay loans and what type default (not that there is any guarantee, but there are definitely trends, EXAMPLE: There are plenty of legitimate loans for trading and mining, but I would expect these type of loans to show some type of business plan, and past gains if it is not a new venture.  I would also want to see detailed plans.  Nothing would deter me more than 1 sentence loan request for mining or trading as those are very generic categories that scammers could use, since many real loans are in those categories.  Most scammers are not creative or they would have a real job so they use common loan categories and very short descriptions.  I have also noticed that most of the loans with detailed information and specifics about their business do not default, where as the ones that do are very vague. I believe from talking to some investors that the people who lose money investing only use the credit rating and not their own judgement, and the profitable ones invest in many credit ratings but have better personal judgement about the loan descriptions, AND ask many questions if they have them and do not invest until the get a satisfactory answer).

Signing up - VERY easy, the site is user friendly, and has detailed descriptions.  There are also YouTube videos by some users who have signed up that someone can watch to get help signing up.

Verification - Some documents were verified within hours of signing up.  Some took a few days.  I grew concerned when my income took several days only because I am impatient, but I imagine they have tons of users and since they check things over it takes time.  Although it took slightly longer than the 1-2 day window, it was not much longer than that so I have nothing to complain about.  I would rather they thoroughly check things than rush them, so although I was impatient, everything went fine.

Support - Some people complain about support being slow.  As I mentioned regarding verification, they probably get TONS of support requests.  I received emails within about 2 days from a support member.  Friday (Today) is the day I submitted my loan about 1pm.  I emailed support to see if anything else was needed, and got an email back within hours unlike the previous response that took a day or 2.  They even asked if they could call me to go over some details, and called within an hour or so of me confirming time to teleconference.  I was VERY impressed that they took the time to personally reach out to me, so although I can see where some people are frustrated that some responses take days, I think they have a good support team that is simply slammed with support tickets so they can get backlogged at times.  I hope as they grow they hire more support, but at the same time I cannot complain about a support ticket that was answered by email and phone within hours, and the one that took a few days was no big deal either since it was just me being impatient wondering what was going on with verification as I wanted it done immediately.  A cpl extra days feels like weeks when you are waiting for something, and I can see where someone who has $ tied up or a problem with a financial matter could become impatient, but overall I think they get back to people as fast as possible and offering great quality support although there can be delays and things can take slightly longer than a user may want, I never experiences massive delays like reported by some users ans was overall very happy with the experience, especially after receiving a personal call to go over my loan and personal details as I thought this shows they really care about their users and actually spend time reviewing each loan (it is not just something they say they do and push them through without looking at them).

Loan - The process was easy to do, I submitted my loan around 12:30pm on a Friday.  It is in the review process.  I would be surprised if it is not live for funding on Monday, Tuesday at the latest.  I will email support if it is not up by Tuesday, as I believe the squeaky wheel gets the grease.

I will update as my loan is funded, any future positive/negative interactions with support, and about the process of getting funded and communicating with any investors. 

So far I made small investments, 1 has paid early, I will update information about investments only once I have invested a very small amount across 100+ handpicked accounts as I believe diversification to be a fair judge of profit loss.  The 2 factors I think are necessary are 1) 100+ investments AND 2) handpicked investments, not just investing in 100+ but picking them based on judgement that includes but is not limited to the rating as I think it is important to go through each business plan personally whether it is an A or D rating as I would not invest in any 1 sentence loan because if they cannot take the time to write a proper business plan I cannot be bothered to fund it.  I don't care if it uses google translate and is in broken English, I just want fleshed out details.

Feel free to ask any questions, as I go through the process I will post here and go through it with you.  I am happy to use this site, as a college graduate who is just getting my career launched, credit can be difficult and I supported bitcoin even before this site as I like the idea of a currency that is for the people and not by a government (decentralized currency).

I will not provide any loan link.  I am just posting my honest experiences.  If I have defaulted payments as an investor, I will post it.  If I have good/bad experiences borrowing, I will post it.  This is just the intro to my review, and I plan to update it with all positive or negative feedback (or both in different areas).

I am NOT going to post my loan links ANYWHERE on this thread, as I am not using this as a forum to promote my individual loan, only to post honest reviews because all I can find is people slamming the site (some of which sound like morons) and people in love with the site (who sound like shills).

I have done a lot of reading of reviews and it bugged me that everything seemed so 1 sided either way.  People say support takes months, others say they are never late.  But the last thing I am here to do is promote any scam, you won't see any loan links from me.

I did not know this forum was only for giving and receiving loans here in the forum, I apologize if I am in the wrong place

I have been a member 1 week, so this is a review of the process of joining, the document review process, and my interactions with support.  I created my 1st loan today and it is in the review process.  I will update this thread after it is approved, I am funded, and pay back the loan.  I will update this with additional information and reviews about my investing on the site, and any overall observations and experiences as a borrower and investor.  I have seen many lopsided reviews for the site either overly negative or positive, so I thought a more realistic point of view would aid some.

Additionally, I have read MANY past loans, and most of the current loans waiting for funding so I could learn more about the type of loans, interest percentages, and which borrowers repay loans and what type default (not that there is any guarantee, but there are definitely trends, EXAMPLE: There are plenty of legitimate loans for trading and mining, but I would expect these type of loans to show some type of business plan, and past gains if it is not a new venture.  I would also want to see detailed plans.  Nothing would deter me more than 1 sentence loan request for mining or trading as those are very generic categories that scammers could use, since many real loans are in those categories.  Most scammers are not creative or they would have a real job so they use common loan categories and very short descriptions.  I have also noticed that most of the loans with detailed information and specifics about their business do not default, where as the ones that do are very vague. I believe from talking to some investors that the people who lose money investing only use the credit rating and not their own judgement, and the profitable ones invest in many credit ratings but have better personal judgement about the loan descriptions, AND ask many questions if they have them and do not invest until the get a satisfactory answer).

Signing up - VERY easy, the site is user friendly, and has detailed descriptions.  There are also YouTube videos by some users who have signed up that someone can watch to get help signing up.

Verification - Some documents were verified within hours of signing up.  Some took a few days.  I grew concerned when my income took several days only because I am impatient, but I imagine they have tons of users and since they check things over it takes time.  Although it took slightly longer than the 1-2 day window, it was not much longer than that so I have nothing to complain about.  I would rather they thoroughly check things than rush them, so although I was impatient, everything went fine.

Support - Some people complain about support being slow.  As I mentioned regarding verification, they probably get TONS of support requests.  I received emails within about 2 days from a support member.  Friday (Today) is the day I submitted my loan about 1pm.  I emailed support to see if anything else was needed, and got an email back within hours unlike the previous response that took a day or 2.  They even asked if they could call me to go over some details, and called within an hour or so of me confirming time to teleconference.  I was VERY impressed that they took the time to personally reach out to me, so although I can see where some people are frustrated that some responses take days, I think they have a good support team that is simply slammed with support tickets so they can get backlogged at times.  I hope as they grow they hire more support, but at the same time I cannot complain about a support ticket that was answered by email and phone within hours, and the one that took a few days was no big deal either since it was just me being impatient wondering what was going on with verification as I wanted it done immediately.  A cpl extra days feels like weeks when you are waiting for something, and I can see where someone who has $ tied up or a problem with a financial matter could become impatient, but overall I think they get back to people as fast as possible and offering great quality support although there can be delays and things can take slightly longer than a user may want, I never experiences massive delays like reported by some users ans was overall very happy with the experience, especially after receiving a personal call to go over my loan and personal details as I thought this shows they really care about their users and actually spend time reviewing each loan (it is not just something they say they do and push them through without looking at them).

Loan - The process was easy to do, I submitted my loan around 12:30pm on a Friday.  It is in the review process.  I would be surprised if it is not live for funding on Monday, Tuesday at the latest.  I will email support if it is not up by Tuesday, as I believe the squeaky wheel gets the grease.

I will update as my loan is funded, any future positive/negative interactions with support, and about the process of getting funded and communicating with any investors. 

So far I made small investments, 1 has paid early, I will update information about investments only once I have invested a very small amount across 100+ handpicked accounts as I believe diversification to be a fair judge of profit loss.  The 2 factors I think are necessary are 1) 100+ investments AND 2) handpicked investments, not just investing in 100+ but picking them based on judgement that includes but is not limited to the rating as I think it is important to go through each business plan personally whether it is an A or D rating as I would not invest in any 1 sentence loan because if they cannot take the time to write a proper business plan I cannot be bothered to fund it.  I don't care if it uses google translate and is in broken English, I just want fleshed out details.

Feel free to ask any questions, as I go through the process I will post here and go through it with you.  I am happy to use this site, as a college graduate who is just getting my career launched, credit can be difficult and I supported bitcoin even before this site as I like the idea of a currency that is for the people and not by a government (decentralized).

'I want to link my Bitcointalk name with BTCJam's. Verification code: 46725e80-a66e-47b2-99d4-81d656e6085a'