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How is this Possible?
The Lending Club is a social lending network. Borrowers with good credit can bypass banks and credit cards for lower rates. At the Lending Club members lend and borrow money from each other at better rates, bypassing the banks. More than $20,000,000 in loans have been issued by Lending Club at better rates than bank rates.
Look at the types of loans already made by Lending Club to people in Arizona $20000 for Expanding my growing Business in Tempe FICO Score: 679-713 $1275 for Moving Expenses in Yuma FICO Score: 660-678 $3800 for Looking for a Second Chance in Glendale FICO Score: 660-678 $4750 for Loan for debt consolidation in Peoria FICO Score: 714-749 $2875 for Recording Workshop in Ohio in Prescott Valley FICO Score: 714-749 $7000 for Taking the First Step by Consolidating in Surprise FICO Score: 679-713 $15000 for Chase Credit Card in Scottsdale FICO Score: 679-713 $10625 for Debt Consolidation in Chandler FICO Score: 679-713 $7000 for Debt Consolidation in Tucson FICO Score: 660-678 $5800 for Imagination Creations in Phoenix FICO Score: 679-713 $600 for Need to pay rent ASAP! in Goodyear FICO Score: 660-678 $2800 for Credit card rate too high! in chandler FICO Score: 660-678 $7000 for Paying for my own wedding in El Mirage FICO Score: 679-713 $5000 for Denture Payment in Phoenix FICO Score: 780+ $9000 for Credit Card Consolidation in Centennial Park FICO Score: 679-713 $2000 for Bill Help in Tucson FICO Score: 640-659 $8575 for Debt in scottsdale FICO Score: 660-678 $4825 for Pay Off Beneficial in Phoenix FICO Score: 679-713 $5600 for Laundromat in Phoenix FICO Score: 780+ $1775 for Heavens Best Carpet Cleaning in Anthem FICO Score: 714-749
In the worst of times, Lending Club is the best of options. Prosper.com began the P2P or social lending market, which allows people to lend to people in an auction like market place. The Lending Club came a couple of years later and is also a social lending network where members lend and borrow money from each other at better rates, bypassing the banks.
Well, if Prosper started the revolution, then why not use their platform to get a loan?
Because Prosper has gone into hibernation waiting on a filing with the SEC, leaving the Lending Club as the best alternative to borrowing from banks or other financial institutions (if they are lending that is!).
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