LendingClub Coupon Codes & Discounts Apr 2025 - 5% OFF

LendingClub is an online peer-to-peer lending platform that connects borrowers with investors. It was founded in 2006 and is based in San Francisco, California.The platform allows borrowers to obtain personal loans for various purposes such as debt consolidation, home improvement, medical expenses, and more. Investors on LendingClub can fund these loans and earn interest on their investments.LendingClub uses a proprietary algorithm to evaluate borrowers' creditworthiness and assign them a risk rating. This helps investors assess the risk associated with lending money to a particular borrower.The company operates on a marketplace model where borrowers can request loans ranging from $1,000 to $40,000. Lenders/investors can choose which loans they want to fund based on their desired risk level and potential returns.LendingClub makes money by charging fees to both borrowers and investors. Borrowers pay an origination fee when they receive a loan, while investors pay service fees based on the amount of interest they earn from their investments.Since its inception, LendingClub has facilitated billions of dollars in loans and has attracted both individual investors as well as institutional investors such as banks and financial institutions.It is important to note that investing in peer-to-peer lending platforms like LendingClub carries risks. Investors may face potential defaults or delays in receiving payments from borrowers. Therefore, it is recommended that investors carefully evaluate the risks before making any investment decisions on platforms like LendingClub.

LendingClub's main products include personal loans and business loans.