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.
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.
@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.
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"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.
@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?
@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
The Design of Influence: How to Craft Products that Move People
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The Design of Influence: How to Craft Products that Move People
The Friend You Never Had
The Design of Influence: How to Craft Products that Move People
The Friend You Never Had
"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.
The Nifty
The Design of Influence: How to Craft Products that Move People
The Nifty