Lending Club Isn’t a Scam

Lending Club Scam

Let’s lead off by stating that Lending Club is not a scam.  However, if you go to Google, the first thing the auto-complete suggestion will give you if you start typing in “Lending Club” is “Lending Club Scam.”  It’s actually quite normal to think that such a system as the one Lending Club uses is being used to scam people out of their money, but it couldn’t be further from the truth.  Lending Club bypasses the bank system entirely and puts money right into the hands of those who need it.  Where does the money come from, you ask?  It comes from other people; investors who are using Lending Club to diversify their investment portfolios and make a nice profit in interest as well.

There are plenty of financial scams on the internet, including the old pyramid scheme that rears its ugly head in one form or another.  However, Lending Club is no such thing.  It allows investors to lend money to borrowers, while Lending Club acts as the go-between, collecting loan payments from borrowers and distributing them to investors.  In essence, each investor is his or her own mini-bank, pitching in money toward fulfilling a loan request from a borrower.  One loan request may have a single investor, or it may have 20.  It might even have more than that.  Lending Club has originated over $500 million in consumer loans and has received more than $75 in venture capital from some of the top firms in the country.  Forbes Magazine also named Lending Club one of its most promising companies—a distinction that isn’t given out lightly.

Lending Club meets all of the regulatory requirements in every state it operates in, and is regulated by the Securities and Exchange Commission (SEC).  These are loans that are safe, and the money comes from reputable investors—no loan sharks or shady dealers allowed!  The Better Business Bureau has given the Lending Club a B+ rating, and there are plenty of testimonials from people who have used Lending Club to consolidate loans, make major purchases, and much, much more.  If there was a Lending Club Scam, none of this would be possible.

Lending Club can almost always give its customers better rates than a bank, because the loans are funded by people, not banks.  The interest rates range from as low as 5% to as high as 28%.  Even at the highest levels, those rates are still far more attractive than the loan shark rates you might get from a payday loan store.  Getting a loan from Lending Club is no different than a bank, but the loans are fixed-rate interest and without any hidden fees.  How could there be a Lending Club Scam going on if this is the case?

==>Click Here to Check Your Rate at Lending Club<==

 

On the flipside, if you’re an investor and you’re wondering if it’s safe to put your money in Lending Club, rest assured that the Lending Club Scam rumors are completely false.  Putting money into Lending Club loans are just like any other investment—there are inherent risks in doing so, but there are rewards as well.  The loans that investors make with Lending Club are far less likely to default, due to the filtering system that Lending Club gives its investors.  Investors can filter specifically which loan requests they are willing or not willing to invest money into.  Lending Club also charges an interest rate high enough so that investors can see a good return on investment (ROI), and likewise, borrowers will be able to borrow money for thousands of dollars less than going to a bank.  Peer-to-peer lending is the wave of the future, and it has banks worried.  If people can borrow directly from each other, why bother with banks to begin with?

 ==>Click Here to Open a Free Investor Account at Lending Club<==

 

There is no such thing as a Lending Club Scam, and while there may be negative things being said about Lending Club, it is a safe, efficient way for both borrowers and investors to exchange money.

==>Click here to get a low interest loan from Lending Club<==