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LendingClub getting bigger: Now filing with regulators
If you’re an active lender/borrower in the P2P community such as myself, the recent news (seen below) on LendClub’s site may strike as a shocking new development.
“Lending Club has started a process to register, with the appropriate securities authorities, promissory notes that may be offered and sold to lenders through our site in the future. Until we complete the registration process, we will not accept new lender registrations or allow new commitments from existing lenders. We will continue to service all previously funded loans during this period, and lenders will be able to access their accounts, monitor their portfolios,…
9Apr2008 | S. Oakes | Comments Off | ContinuedLending Club 101
Now that I have pretty much mastered much of what Prosper is all about, it’s time to take a serious look at their competitor – Lending Club. As I had stated earlier, the sign-up interface is very smooth. The site has an overall energetic feel and although I hate the color orange, there’s something about mixing it with black and using creative visuals that scream “lending can be sexy.â€
The first thing I had to do was verify my identity, social security number (tax purposes), bank account, etc. The process is fairly straight forward and simple. When verifying your bank account it…
14Jan2008 | S. Oakes | 2 comments | ContinuedLendingClub: P2P Lending Experiment
In my quest to find the highest quality lending rates, I have ventured over to LendingClub. This is not to say that I am dissatisfied with what Prosper has to offer — because I am doing quite well for myself over there.
Instead, I’m looking to test out Lending Club’s system and determine if there are better deals residing in greener pastures.
So far, my experience with LendingClub has been satisfatory. The sign-up was smooth and I do love the website interface. Currently, I am waiting for bank account verification, but should see some progress within a few short days.
Regardless of…
8Jan2008 | S. Oakes | 2 comments | Continued
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