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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 Oregon$6000 for Dental in Portland FICO Score: 679-713 $7500 for Purchased a house at looking to improve in Beaverton FICO Score: 679-713 $6000 for Lowering interest rate in Beaverton FICO Score: 679-713 $1200 for Pay down a credit card in Florence FICO Score: 679-713 $3000 for Pay down home equity loan in Corvallis FICO Score: 780+ $5000 for Christas loan in Bend FICO Score: 714-749 $9000 for Pay off Debt Help kid ready for college in Albany FICO Score: 660-678 $7850 for Jareds Debt Consolidation in Ashland FICO Score: 679-713 $3600 for Ricks Bad dream in Grants Pass FICO Score: 679-713 $3000 for Debt Consolidation Loan in Salem FICO Score: 640-659 $10000 for paying off most credit cards in Klamath Falls FICO Score: 640-659 $12775 for Equipment for 2nd business location in Salem FICO Score: 750-779 $550 for billeter loan in Bend FICO Score: 714-749 $7000 for Consolidating debt prior to deployment in Portland FICO Score: 660-678 $4775 for refinance personal debt in Clackamas FICO Score: 679-713 $5000 for Debt Monkey of My Back in Hillsboro FICO Score: 679-713 $6500 for Post-College Debt Consolidation in Hillsboro FICO Score: 679-713 $1800 for personal loan for Consolidation in Milwaukie FICO Score: 679-713 $350 for Consolidation in PORTLAND FICO Score: 640-659 $8000 for Debt consolidation for faster payoff. in Portland 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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