Showing posts with the label credit

LendingClub  - The Fast Growth FinTech You Didn’t See Coming

LendingClub (LC) has become a boon for borrowers as well as investors and has turned into a viable option in comparison to loans from banks. Let us look at reasons behind its fast growth. In the early days I used to get 20%+ returns annually from trading LendingClub notes. That rate of return has fallen but I still believe in I even still have the monthly statements to prove it. Also, LendingClub has extremely powerful network effects.

LendingClub and Its Utility for Borrowers and Investors
LendingClub is operating a unique credit marketplace which allows peer to peer lending as well as investing. Due to machine learning, crowd consensus and other mechanisms, LendingClub typically provides lower rates in comparison to what banks offer. For instance, in a recent interview with Bloomberg, LendingClub CEO Scott Sanborn states that customers save on average 24% interest, when borrowing with LendingClub.

Read more about LendingClub here.