Lending Club
I've been following the social lending concept for a few years. One of the older ones is Prosper, but that one is currently closed to investors because they're in a lender "quiet period" and going through a registration process.Another social lending site is Lending Club. Here's how they describe themselves:
Borrowers with good credit can get personal loans at interest rates they find more attractive than those available from conventional funding sources such as banks and credit cards, taking advantage of a streamlined process between the source of funds (lenders) and the borrowers who need those funds.They've got a pretty high-powered team, including senior people from MasterCard International and JP Morgan, Goldman Sachs, Charles Schwab, and Visa.Lenders get an opportunity to fund specific borrowers by investing in Notes we issue that correspond to specific borrower loans. The stated interest rates on Notes range from 6.69% to 19.37% (after deduction of our 1.00% service charge). Notes are offered only by means of a prospectus.
posted by Paul Wilczynski @ 11:20 AM
1 Comments:
if you want to learn more about the Lending Club, come hear CEO/Founder speak and pose questions directly to him at MIT/Stanford’s VLAB event on January 20th. For more information go to:
http://www.vlab.org/article.html?aid=251
Renaud and Lending Club are the feature speaker/company.
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