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What is the Lending Club?
January 28th, 2012
The lendingclub is the first successful peer to peer finance institution in the state of California. It brings together investors who have money and those who need money. Many people would want to open businesses, pay bills, buy homes and cars, pay debts but they are broke or lack the means to raise the needed funds. The lending club is a place you can go take a small loan at a low interest rate depending on how good your credit records are and be able to finance all this. The club was the first finance lender without having to have securities in the state. They however have to take your credit report and check your credit score to ensure you are reliable and can be trusted to pay back the loan. The lending club is also unique as they calculate your interest as per your credit report, the better the credit report the lower the interest rates will be. They have been known to reject as many as 3 billion loan applications as the loan applications did not meet the requirement. The lending club is therefore a good option for someone who wants a quick and safe personal loan.