The Lending Club peer lending network offers low interest rates to borrowers with good credit, and lenders can earn high interest returns on their investments with a low risk of default.
Lending Club brings people together to borrow and lend money outside of the traditional lending institutions like banks and credit card issuers.
Lending Club provides borrowers with the opportunity to quickly qualify and get funded for loans with less hassles, and lenders have the chance to earn high interest rates while lending money to highly-qualified borrowers.
Lending Club Borrowers Receive Low Interest Rates
The Lending Club peer-to-peer lending community is designed for borrowers with good credit, and you must have a minimum FICO credit score of 660 to qualify for a loan through the Lending Club network.
However, it’s Free to Sign Up for Lending Club to instantly view if you qualify for a loan.
Loan rates start as low as 7.89% for qualified borrowers.
You can borrow from $1,000 to $25,000 and get funded within days.
There are no hidden fees for Lending Club loans, and the interest rate is fixed for the full 3-year duration of your loan.
Once you sign up for Lending Club and are approved for a loan, you may list your specific loan request on the Lending Club network, much like you would list an item for sale on eBay, and your privacy is fully protected.
After a 2-week loan listing period, your loan will either be fully funded or you can accept partial funding of your loan.
Then you simply make scheduled payments over the 3-year loan period until you’ve paid off your loan in full.
Lending Club is ideal for a low interest rate loan if you have a good credit score.
Lending Club Lenders Earn High Interest Rates
Join Lending Club as a Lender to earn a good return on your investments to highly-qualified borrowers.
Lenders have the opportunity to earn 9.6% in net interest returns on their investments with a very low default rate, as less than 3% of borrowers default on their loans after 18 months.
As a Lending Club lender, you can fund specific borrowers by investing in Notes that correspond to specific borrowers’ loans.
Lenders may review loan listings on the Lending Club website and bid on specific loans based on borrowers’ qualifications.
Lending Club manages the entire loan process between the borrower and the lender, including scheduling the payments and distributing them between the lenders.
Each monthly payment includes principal and interest, and all borrower loans are scheduled to be fully repaid in 3 years.
Lending Club Lenders also enjoy free, easy sign-up with no hidden fees.
Lending Club helps borrowers and lenders achieve their mutual goals with less fees and less hassles than the traditional banking institutions.
Lending Club does make money by charging a 1% service charge, which is automatically deducted during the loan process, but this fee is less than the fees charged by traditional lending institutions.
Join Lending Club for Free as a borrower or lender, and start saving with peer lending networks today.
Read more information about Peer Lending Networks to find lending solutions to pay off your debit or to invest in P2P loans.
Take advantage of the Lending Club peer-to-peer lending network today.