LendingClub

LendingClub

Online personal loans at great rate

2 followers

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LendingClub is the world's largest peer-to-peer lending platform. Investors can search and browse the loan listings on LendingClub website and select loans that they want to invest in based on the information supplied about the borrower, amount of loan, loan grade, and loan purpose. Investors make money from interest.
Launch tags:Tech
Launch Team

What do you think? …

Ali R. Tariq
The Design of Influence: How to Craft Products that Move People
Hunter
I have no affiliation with these guys, but I found the business model fascinating. Has anybody actually used this? If this succeeds, I reckon it could have far reaching implications on financing and personal banking in general.
Stefano Bernardi
Unreplied
@alirtariq seems a bit late stage to post on Product Hunt. They're about to IPO.
Ali R. Tariq
The Design of Influence: How to Craft Products that Move People
Hunter
@stefanobernardi I figured they were under-the-radar enough to share with the community.
Ryan Negri
The Friend You Never Had
@alirtariq Have you tried Prosper before?
Ali R. Tariq
The Design of Influence: How to Craft Products that Move People
Hunter
@ryannegri Nope - just checked it out. Very interesting. What's your take on it?
Ryan Negri
The Friend You Never Had
@alirtariq I used it back in the day (first few years of launch). They seem pretty good, but never really "blew up". I think they could with the right people behind them. It seems they could pivot to a crowfunding platform for startups for equity instead of buying products like KS and INDGOGO.
Nick O'Neill
The Nifty
I'm currently getting 14% on lending club. Have been lending money on there for over a year now.
Ali R. Tariq
The Design of Influence: How to Craft Products that Move People
Hunter
@allnick wow, that's astronomically high relative to rates available from traditional banks. How has your experience been? Any defaults, if you don't mind me asking?
Nick O'Neill
The Nifty
@alirtariq yes, defaults are a fact of life but the basic idea is that you don't invest more than $25 in each investment. If you put at least $10k in they have an automated diversification system
San Mc Dillon

"Lending Club." Is the best to get a loan in my financial situation.

Pros:

Lending Club’s terms are so clear, and their pattern of service so well established,.

Cons:

Some users may be required to supply copies of tax documentation.