Comments on: Lending Club Peer Lending Network Offers Low Interest Rates for Qualified Borrowers

By: MaximizingMoney.com

MaximizingMoney.com — Wed, 31 Aug 2011 21:08:40 +0000

Hello Julie,

This information is from the Lending Club help section:

“What happens if a loan is repaid early?

Borrowers can prepay their loans at any time with no penalty. If a borrower prepays a loan, you will receive your pro rata share of the principal amount outstanding at the time of the prepayment, minus our 1% service charge.”

So the answer is no, there is not a pre-payment fee. The second sentence in their answer applies to the lender.

Hope this helps and good luck.

By: Julie Scott

Julie Scott — Sun, 19 Jun 2011 19:51:07 +0000

Is there a pre-payment penalty fee? I need the money now and don’t have it. I’ll have it soon, but I won’t need it then.

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By: Demesh

Demesh — Tue, 06 Jan 2009 19:03:31 +0000

How is ZimpleMoney really all that useful to P2P lenders in the long haul? I don’t see what functionality it offers isn’t redundant, given what’s already offered by Lending Club and similar platforms.

By: Janie

Janie — Sun, 04 Jan 2009 01:12:14 +0000

Check out 40billion.com, which focuses on entrepreneurs and helping them to raise money for their small businesses through friends and family, rather than through traditional financial institutions. It is the first friends-and-family funding network for entrepreneurs.

Entrepreneurs connect with their social networks – friends, family, friends of family, colleagues, and others – to raise capital by requesting loans and contributions, and entrepreneurs can share their fundraising pages on MySpace, Facebook, and LinkedIn too.

Check out http://www.40billion.com

By: Steve Rabago

Steve Rabago — Sun, 14 Dec 2008 19:53:04 +0000

ZimpleMoney.com recently launched offering p-2-p loans. It is not a “marketplace” lending site, rather you can manage and administer loans within your pre-existing networks of family and friends. Join us at http://www.zimplemoney.com. Steve Rabago, ZEO, ZimpleMoney.com