Tag «Lending Club Scam»

Lending Club Reviews – Legit or Scam?

The Lending Club (LendingClub.com) was established in 2007 by CEO Renaud Laplanche as an online financial community where both borrowers and investors can benefit from a peer-to-peer lending format.

Lending Club says that people wishing to invest can open an account instantly and begin building their portfolio. People hoping to borrow money can fill out a loan application and get an instate rate quote.

The Lending Club’s website says they replace the “cost and complexity” of bank lending with a faster, smarter way of both borrowing and investing. But how do they do it?

Peer-to-Peer Lending

Lending Club is not a bank. Instead, they match investors with credit worthy borrowers