Finding credit has become more difficult than ever and with local brick and mortar banks continuing to shut down daily, the search isn’t getting any easier. Lending Club, the leader in p2p lending, is helping the cause by offering a $150 cash bonus to new and current borrowers. If you’re not familiar with how Lending Club works, the process for signing up and being approved for a loan is simple and can be completed in under 20 minutes.
Unfortunately, Lending Club is not serviceable in all 50 states. As a borrower, you cannot live in the following states:
- North Carolina
- North Dakota
In addition to the state requirements, you must also abide by the following rules in order to receive your $150 cash bonus.
- The loan taken out must be at least $12,000.
- The loan must be taken out after September 23rd and before October 1st (which means there are only two days left)
- The term of the loan must be 36 months.
If you’re calculating the percentage in cash back you’ll be receiving, it’s only 1.2% at best, so diving into a $12,000 loan with a somewhat high interest rate (depending on your credit history) simply to receive a quick cash bonus is not smart. On the other hand, if your looking for a personal or small business loan and are having trouble securing credit, Lending Club may the the place for you.
To sign up for Lending Club and apply for a personal or small business loan, visit their official website at www.LendingClub.com.
Published or updated June 7, 2011.