Featured on CNN, Time, Business News, and CBS news, Lending Club has established itself as a rising credit alternative. This unique service is growing in popularity everyday.
Lending Club is peer-to-peer credit site. As the name implies, people sign up and find potential “lenders” to apply for a loan from and pay the principal and interest back to that lender.
Upon sign up you can choose to be either a “borrower” or a “lender”. Rates for loans for borrowers typically start at a %7.88 apr fixed rate.
That all being said I’m sure you’re wondering to yourself “why is this information useful to me to make money?”.
This is where signing up to be a lender comes into play.
Lenders on the Lending Club receive average returns of %9.05. Not bad at all. The best thing is YOU get to choose how much money you wish to invest and you also get to approve or deny borrowers! Not to mention borrowers are required to have a FICO score of at least a 660 and have a debt-to-income ratio of %25 or less. So there really is little to no risk in your investment!
They also have an awesome referral program in which you receive $25 for every borrower you refer, $15 for every borrrower that they refer, and then $10 for every borrower your 2nd line referrals refer!
To join simply click on the image:
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