Lending Club was one of the first Facebookās application, initiated its business as a social network matching investors and borrowers. The idea was welcomed with a huge enthusiasm and got a good feedback among the audience. The main aim was to make loans more affordable and investing more rewarding. As demand for the service kept on growing, LendingClub expanded its business to an independent peer-to-peer lending platform.
Nowadays LendingClub is one of the global virtual credit market that successfully competes with ordinary banks by offering better rates (almost 20% lower) to the borrowers and attractive low risk returns to the investors. The loan period usually lasts 3 years with the amounts vary from $1,000 to $40,000.
LendingClub spreads its activity into 4 major fields: personal loans, auto loans, loans for small business and individualās medical funding. All you need is just to fill online application form and based on the amount required and your credit history you will get the credit grade with the interest rate and fee.
All information alongside with the borrowersā listing can be easily found by investors on the companyās website. Each monthly payments earned by investor from the interest can be easily withdrawn or reinvest.
With Lending Club, whether you are a borrower or investor or both, best rates and benefits are available for you:
Clear and transparent application proces;
Fast and fixed quotes with no harm to the credit score;
Fixed monthly payments and flexible terms;
Ā The service charge applied to all amounts is only 1%;
No penalties and fines.Ā if you want to repay the loan;
Absolute privacy and protection of personal and financial details.
Ā Itās fine, if you need some financial support for your project as a borrower, but at the same time want to invest your money. With the minimum investment of $25 per note, you can easily do both, however you will need to register with two different email accounts.