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Claim Your BusinessLendingClub has a rating of 1.93 stars from 12 reviews, indicating that most customers are generally dissatisfied with their purchases. LendingClub ranks 16th among Crowd Funding sites.
Have had several loans from LendingClub and great experiences with each one! Friendly, prompt, and easy with low interest rates enabled us to complete our financial plans successfully.
They have tied up my money for review and even when I sent documents they did not review. Made 6 calls to customer service and everyone gives me different answers, so having to resend all docs again. This has been going on for over 2 weeks so no access to my money. They want send it back to the original account or nothing. Getting run around, I would not recommend anyone deposit money here.
The lending club is supposedly the future of banking. I read about the lending club on Forbes and they made it seem as it was potentially going to take over the banking industry. The problem is that you still have to qualify for a loan and they seem to be ever harder to find a loan from than a bank. The rates are lower though by a few points, which adds up. Once you have one loan, it is harder to get a second loan so the problem with going with the lending club is that you have to make sure you can actually qualify for enough of a loan or you may be better off having more access to future funds through a bank.
LendingClub is a marketplace for personal loans, also known as peer-to-peer lending. Individual borrowers can get loans at interest rates that are potentially lower than interest rates they would get at traditional banks and financial institutions. Individual lenders can potentially earn a better rate of return than they would get from bonds or other debt instruments of comparable risk.
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