Thursday, January 17, 2008

18 days left for 5% Lending Club bonus

Patrick Gannon, Lending Club's Senior Vice President, says that Lending Club's growth has been "fantastic" over the past month and wants to increase publicity of their 5% bonus during the last 18 days of the program.

"With all of the growth in loans and loan requests," he writes, "we want to reach out as widely as possible to current and now prospective lenders with our special offer: Lending Club will give a 5% cash bonus to all lenders who lend $5,000 or more between December 14, 2007 and February 3, 2008. This bonus can be used to lend or can be withdrawn to your linked checking account." Although there are no special sign-ups needed to participate in this program, if you want an additional $25-50 referral bonus you need to sign up through a referral link. Lending Club announced the accomplishment of the following milestones:
  • Lending Club has reached $6MM in issued loans, and have over $3MM of loans in funding today
  • The number of lenders has doubled in the last month
  • The next system release (due in the next few days) offers a new set of lender tools that makes lending and account management even easier and incorporates feedback from many in our lending community
We listed a few of the $3MM in loans with their interest rates in these previous blog posts:


SavingDiva said...

If I had $5k to invest in peer to peer lending, I would definitely choose Lending Club over Prosper right now...but the interest rates at Prosper are a little higher for people with good credit.

Matt said...

The 5% really makes it a pretty good deal. Even without considering the interest you are making on the loans 5% is better than you can get on a CD or Treasury bond right now.

Tom said...

And a Zopa loan is only 5.1%. Lending Club gives you that much right away.