Loanio is a peer-to-peer lending network that helps people loan money and borrow money from other people without the hassles of banks or credit card companies.
You’ll get a $25 bonus when you join Loanio as a new lender, and you can receive up to $50 in bonuses for referring new Loanio members.
Sign up through the Loanio $25 Referral Link to get your $25 bonus when you register as a new lender and make your first loan.
Loanio is perfect for borrowers with both poor and perfect credit histories, as it’s much easier to get a peer network loan with a lower interest rate no matter what type of credit history you have.
Loanio is also an ideal investment for wary investors, as you can get a higher return on your investment than standard savings accounts, plus you can control your risk by only lending to borrowers that meet your risk criteria.
The Loanio peer lending network process works similar to ebay, and it is designed to help people lend each other money with less fees than banks and at better rates that benefit both the borrower and lender.
Plus, you’ll get a $25 bonus when you sign up through this Loanio $25 Referral Link, register as a Loanio lender, and make your first loan.
Here’s How Loanio Works:
1. Borrowers place an add for a loan they need at a rate they’re willing to pay.
2. Lenders bid on all or part of the loan at their desired rate of return until the total amount that the borrower is requesting has been met.
3. When the bidding ends, if enough bids have been placed, the loan will be originated, and all winning bidders will contribute to the loan and automatically receive monthly repayments including interest to their Loanio account until the loan is paid off.
Loanio manages the entire loan process for a small fee, including collecting the borrowers monthly payments and redistributing them to the lenders.
In order to become a lender at Loanio, you must verify your identity and connect a bank account to your Loanio account in order to transfer funds into your Loanio account.
There is a $100 initial minimum transfer amount when you connect your bank account to your Loanio account.
Your Loanio deposit account is a fully FDIC-insured account, although it is a non-interest earning account when you are not participating in loans.
Once you are registered as a lender, you can start bidding on loans at your desired interest rate of return.
There is a $50 minimum bid for lenders when bidding on loans.
Loanio makes it easy to review borrowers loan profiles and select loans that best meet your personal investment goals and risk level.
Loanio is perfect for borrowers with less than perfect credit, as peer lending networks can offer last chance loans to people with a poor credit history.
Loanio is also ideal for borrowers with a good credit history who want to get lower interest rates on their loans than traditional lenders can offer.
To register as a borrow, you must submit some financial data and verify your credit history, although the process is relatively simple.
Once you are a registered borrower, you can create a loan request and set the rate you are willing to pay.
Loanio makes it easy to get peer-to-peer loans at lower costs than traditional lenders like banks and credit card issuers.
Loanio Referral Bonuses
Loanio is currently offering a $25 cash bonus when you sign up for your new Loanio account through this Loanio $25 Referral Link.
You will get a $25 bonus when you sign up through the referral link, register as a lender, and then make your first loan.
In order to register as a lender, you must transfer a minimum of $100 from your bank account, and then you must make your first loan with a minimum of $50 in order to receive your $25 cash bonus.
Once you are a registered lender on Loanio, you can receive a $25 bonus for each new lender you refer and a $50 bonus for each new borrower you refer.
You can invite friends and family through referral emails or post referral links to your website.
However, you must join Loanio through this Loanio $25 Referral Link in order to receive the $25 bonus as a new member.
Loanio is ideal for borrowers and lenders who wish to avoid dealing with traditional lenders like banks and credit card companies, plus you can get a $25 bonus when you join Loanio and receive up to $50 in cash bonuses for each new Loanio member you refer.
Additional Peer Lending Network Resources
Lending Club offers borrowers low-interest loans and lenders high-interest returns on their investments.
Review our article on additional Peer Lending Networks.
Get Free Online Loan Quotes from LendingTree.
Apply for 0% APR Credit Card Loans.
Find out how to receive a Free $300 Payday Cash Advance.
Take advantage of the Loanio person-to-person lending network to get access to hard-to-get loans and earn referral bonuses from Loanio.