Lending club is undoubtedly the world’s largest peer-to-peer lending platform. The headquarters of the lending club organization is in San Francisco, California. Lending Club is an online organization whose main aim is to benefit both the borrowers and the lenders.
It enables the borrowers to obtain a loan and allows investors to purchase notes which are backed by payments made on the loan. According to the company, $15.98 billion was originated from this platform for loans up to December 31, 2015.
Unsecured personal loans in the range of $1,000 to $40,000 are offered to borrowers through Lending Club. The standard time period of a lending club loan is 3 years.
The investors visit the lending club website, explore the loan listings and invest in the borrower that seems the most appealing. The interest that is charged on the loan goes in the pockets of the investors. Lending club benefits from all this by charging a service fee on the investors and an origination fee on the borrowers.
It is quite simple to log in to your lending club account. Follow these steps:
admin April 27th, 2018
Posted In: Lending club