LendingClub Offers Great Rates for Lenders and Borrowers

Tired of low interest rates on Certificates of Deposit (CDs), money market or savings accounts? LendingClub offers. . .

• Interest rates as high as 19.37%
• Invest as little as $25
• All borrowers must have a credit score of 660 or higher
• Investing is quick and easy
• Zero cost to become a LendingClub member
• Default rate of less than 3% after 18 months
• An award winning website and management team
• A one-of-a-kind trading platform to buy and sell existing loans

"The Lending Club registered with the Securities and Exchange Commission this fall, and its lenders can now resell loans they wish to relinquish"--WSJ, December 6, 2008
"And with the stock market whipsawing, Lending Club is seeing investors signing up for the service that should be more predictable. They're using it as a new part of a diversified portfolio strategy: Stocks, bonds, and now, loan portfolios (the typical lender spreads their money among 50 to 100 loans). The secondary market adds liquidity to the portfolios, as well."--CNET, October 16, 2008

"As major financial institutions stumble or fail completely, online lending sites like Lending Club are on the rise. Since 2005, the amount of their outstanding person-to-person loans has virtually doubled every year, David reports, swelling from $118 million in 2005 to $1.5 billion in 2008."--CBS News, December 28, 2008

Lending Club is a social lending network that lets borrower members borrow money through personal loans, and lenders fund these loans by investing in Notes. Each Note corresponds to a portion of a borrower loan. Lending Club has partnered with WebBank, a FDIC-insured, state-chartered Industrial Bank organized under the laws of the State of Utah to originate the loans in a consistent manner across all 50 states. Lending Club loans are regulated under WebBank's Industrial Loan Charter.

What is involved in the registration process?

There are two types of registration on the site. The basic membership registration process takes less than a minute to complete, and it starts by clicking the Join Now link. After registering as a basic member, you will be able to register as either a borrower or a lender.

How do I verify my bank account?

During registration, you will supply the bank account and routing number and we will transfer a small amount (under a dollar) from that account into your Lending Club account. When you see the transaction post to your bank account (usually within a few days), sign into Lending Club and go to the My Account section to verify your account. The debit amount will automatically be returned to your bank account. Please note that if you are a borrower, you will need to verify your bank account in order to receive your loan.

Can I be both a borrower and a lender?

Yes, you can be both a borrower and a lender, either consecutively or concurrently. Note that your borrower and lender accounts are considered separate, thus you will need to use a different email address for each account you open, and for the protection of your account, you will need to go through the verification and authentication process each time you open a new account.

How do I get started?

Registration is quick and easy. Just click on the borrower or lender links below to get started.