Lending Club Eliminates the High Cost and Complexity of Traditional Banks and You Profit
Welcome to my review of Lending Club. I’ve been lending through Lending Club since 2009, and I wanted to share my review of the service. Overall, I have been very pleased with Lending Club. Read on to find out if you should invest or borrow through Lending Club.
What is Lending Club?
Lending Club is a breakthrough in social lending, which essentially eliminates the overhead of a traditional bank to bring lower costs to borrowers and better returns to investors.
Lending Club matches individual people who want to borrow money with private lenders like myself and hundreds of other people. The service is fairly selective, and only accepts borrowers with excellent credit.
Top Reasons to Use Lending Club
- Leadership: Lending Club is the world leader in peer-to-peer lending, with over $6M in new loans each month
- Ease of Use: The interface is top notch, allowing borrowers to quickly apply for a loan and for lenders to be 100% selective in who they lend money to
- Quick Approvals: The application process for borrowers takes just 3 minutes
- Great Rates: Both borrowers and investors benefit from Lending Club’s low overhead