What is Lending Club
Lending Club is an online service that allows individuals to seek loans from other individuals. People who are looking to borrow money visit the site, propose a loan and supply potential investors with personal information.
What types of loans do people get?
The kinds of loans are typical: thirty to sixty year fixed loans with competitive rates. Individuals seek loans for a variety of reasons including small business loans, home improvement loans, debt consolidation loans, loans for plastic surgery and more.
What are the benefits of Lending Club?
Low Initial Investments
Lending Club allows users to begin investing on their site with as little as $25. This is a great option for those wishing to build a portfolio without a large initial investment.
Easy Research Options
There are a number of different filters available to users that help them find the right investment. You can search to determine if borrowers are employed, for how long and where. You can find information about borrowers credit ratings and Lending Club score. The site makes it pretty simple for you to find investment opportunities that are tailored to your budget and standards.
Contact Potential Borrowers
The website allows investors to contact borrowers and their answers are posted on the users profile. You can see the questions and answers posed to borrowers to help you determine if they are safe or too risky.
Lending Club Investment Services
Many users prefer to take a hands-off approach to investing. Lending Club allows you deposit money in an account and allow them to find the best investing opportunities to invest in. They do charge a small fee in or to give this service. Some people prefer to have their investing done for them.
How do I start with Lending Club?
First things first, make yourself a savings plan to begin building an initial deposit. Then, go to their website and check out their terms of service. I find them to offer the best opportunities while charging the lowest fees. They make it easy for any level of investor to begin making their money work for them.
Lending Club is the best place for the basic investor to start. Check them out soon and discover the saving possibilities.