Monday, January 7, 2008

Number of borrowers on Lending Club increase

Several months ago I would often see new lenders on Lending Club complain about the lack of borrowers. It was difficult to invest very much money because there were just not enough requests for loans. Since Lending Club went nationwide and eliminated state lending caps the number of borrowers has significantly increased. Last week I listed the open loans on my post about refinancing a Prosper loan through Lending Club. From January 1st - 4th there were another 50+ loans as listed on the Lending Club statistics page.

Here are the borrowers you can invest in right now and the associated interest rate. Sign up and login to see the full loan details and borrower's credit profile. If you are a new lender there is currently a $25 referral bonus. There is also an additional 5% bonus for large lenders (over $4,000) and a recent interest rate increase.

bill
to pay a bill
7.43%

Holiday bills
Hello -- My name is Michael...I'm looking to lendingclub.com to help me pay the bills I've accumulated over the holiday period. Not only were my expenses unusually high, buying gifts for everyone, but the holidays are the only chance I have to see my family, and I don't get any paid time off, so my income was also unusually low. Most of the money will go to consolidate debt, but some will go to paying out-of-pocket expenses like rent that are now difficult because of my cash situation. The rest of the year, my income is much greater and my expenses much lower, so I should have no trouble paying off this loan. I already have one loan of this size from lendingclub.com for earlier moving expenses, and I've made every payment on time via their automatic withdrawal system. Thank you for your consideration, Michael
11.09%

personal
I am going to use this money to build credit. I am trying to build enough credit in the next year to be able to buy a piece of property I had to sell everything I owned after a divorce six years ago and now I am in need of a credit building. I own a mobile home presently but am looking to upgrade my living situation once I have a good credit standing.
8.38%

One More Step to Freedom
This loan will be used to consolidate my revolving debt (approximately $3200) and provide a short-term financial cushion to help me navigate through the slow off-season here on my tourist-dependent island. I am a good candidate for this loan because I have spent the last several years cleaning up my credit and will not allow myself to go anywhere but forward at this point. I have a come a long way in building up my credit worthiness. The sole cause of my past credit problems is due to mistakes I made years ago involving my student loans (listed as seven different accounts on my credit report because they're broken down by semester). A few years back, after falling way behind in my payments, I worked out a restructuring deal with the supplier of these student loans. They brought my account current and I have since had one simple payment per month. I have never been late in these payments, and this has allowed me to slowly watch my credit health improve as time treks on. I am very proud of this. The other three active debt accounts listed on my credit report are two credit cards and a computer loan, with a combined total owed of $3200. These accounts, as mentioned above, will be completely eliminated with this Prosper loan. I have been employed with the same company for four years now, and job security is no concern. However, I make less in the slower winter months than in the spring, summer and fall. This is the reason for the cusion mentioned above. Although I usually have more cash saved for these slow months, I have overextended myself a bit by sending in higher-than-required student loan payments this year. I have a lot to look forward to in my life. I have been blessed in 2007, having met the girl I hope to spend many wonderful years with. I also plan to be in a position to purchase my own home in the next few years. I am a solid candidate for this Prosper loan.
13.30%

Refinance College Debt
I got about $13,000 worth of college credit card debt by the end of last year. They are running between 20-30% a year on each credit card. In the past year I've paid off $3,00 of it, and I'd like to get rid of the rest as well. My income is pretty stable, I am an online marketing manager for BH Direct - an advertising firm in Los Angeles, making over $40k a year. In the past year, I've paid over $3,000 just in interest on the loans. Had I been able to get a lower interest payment, I could have knocked off another $2,000 in debt. This year, I'd like to get rid of most of my debt, and consolidate into one lendingclub account. If you are looking to invest your money into a place with stable returns, than you definitely would want to invest your money here.
11.09%

Consolidation
Consolidate my credit card loans.
13.30%

Business Funding
Business start up. Real Estate rehab on acquired properties for investment purposes.
18.36%

Hurricane Rita Caused a Pressure Wound
Reason for Loan: I will be using this loan to hire a personal assistant to help with my daily living needs. During the past two years since the Great Hurricane Rita Evacuation in Houston, Texas. I developed a pressure wound on my right buttock, shortly after the evacuation. Pressure wounds grow from the inside outwards. With my Spina Bifida Disability I'm confined to a wheelchair. I am fully independent but at 35 years old its time to ask for an assistants help. I do not have full sensation in this area of the wound. A normal drive to Dallas from Houston is 4 hours, during this evacuation it took me 29 hours. During driving long distances in vehicles its difficult to perform needed very often pressure lifts/reliefs. I had this pressure wound operated on Sept. 12, 2006 after staying flat on my back one month in the hospital I went home two weeks later it opened up again. I also had Osteomyelitis & MRSA it was treated with PICC Line IV antibiotics for the duration of those six weeks. Nov. 13, 2007 I'm back in the hospital again I had 2 (Nov.13th&16th) procedures of debridement the bone of infection. No MRSA was located this time thank God. I am once again on a PICC line for the next 2 weeks while I'm recovering from a 3rd (Nov. 21st) procedure muscle flap this wound is closed. (Dec.17) I had a 4th procedure to close an abscess. This started the healing process back from scratch. Two more weeks from today I can try sitting. I had this same procedure in 1992; in total I have had 47 surgeries. My business is my escape from all the procedures. With this loan it would give me the cushion I need to work at a pace until I'm 100% healed again. My financial situation: I have two major RACING clients one of them called me the day of my 3rd surgery, which happen to be the day before Thanksgiving. This client I have a contract for around 13K with a balance of 8K left on that contract over the next few years. I have a similar contract coming up starting in early 2008 which will be similar through summer of 2009 this contract will have lots of travel involved also. The main reason as you can tell I am a trooper and never say never to a challenge. My gross income has risen 15K in 2007. I have steady monthly clients good for at least $3000. I just need that extra financial cushion to help the lives of other persons who are disabled. With my consulting knowledge of the ADA and particularly Texas Accessibility Standards which I am State certified and there are only around 600 of us certified across the vast market of the borders of Texas!
10.78%

Need to refinance my car
Instead of taking out a home equity loan to pay off my car I would like to use LendingClub to pay off this car. I have loaned money on LendingClub and now I would like to be a borrower. My personal experience with LendingClub as a lender has been great, and as a borrower I look forward to the same. Love how this sytem works! Thank you.
7.43%

194 low
For new windows
10.14%

Consolidate my credit debt
I am looking to consolidate my credit card debt at a low APR now that I am working full-time and can start chipping away at that debt.
13.30%

Surgery
I am having foot and ear surgery and need funds to cover cost not covered by insurance. Loan will be for 2-3 years.
14.57%

Home improvement
several projects around the house that I just want to get finished. Tired of trying to do it myself, want to hire a professional.
10.78%

Pay off my debt
I have some credit card debt that I would like to pay-off. It makes sense to pay one lender as opposed to 5 credit card companies. I'd rather pay interest to one payee rather than split between 5 or 6.
11.41%

Car Repairs
I recently moved to Georgia with my vehicle and the axle is now totally damaged, I am requesting for someone to please assist me in coming up the the remainning $500 I need to repair it. I would greatly appreciate any help that I would be able to recieve. Thank You
12.99%

Promote music Album
to help promote my music album, play music radio, promote music in different states.
12.36%

cosmetic surgery
cosmetic surgery
12.04%

Our Wedding
Due to some unforseen events, the money set aside for our wedding needed to used and we have to pay cash for the remaining items. This is to make sure that our wedding day is the perfect day to start our lives as one.
8.38%

Jumpstart Sustainable Career
This money will be used to pay for tuition and housing at the Ecosa Institute in Prescott, Arizona. Their total immersion design programs focus on the the power of design in shaping humans' relationship with the natural world. This relationship seems to be moving towards sustainable technologies, innovative approaches to efficient design, an ecological literacy, and a new set of design skills such as taught at the Ecosa Institute. The 3 1/2 month intensive program (late Jan.-May 2008) delivers both philosophy and technical skills that I think will be crucial in the burgeoning fields of solar and water technologies, green building, and organic agricultural/landscape practices. I have a college degree, experience running my own construction business, and passion for design. Let's do it!
9.51%

Consolidate Debts
I have a few debts that I want to just pay off and have one low payment.
18.04%

Debt consolidation
I have a few student loans that I want to consolidate.
13.93%

Personal Loan
Personal Loan for credit card expenses from a vacation, paying off student loan.
9.83%

Consolidate debt
Will use loan to pay off bills and fix section of my roof.
8.07%

Engagement Ring
To buy an engagement ring.
8.38%

I want to pay off my high interest CC
Purpose of loan: This loan will be used to?Pay off and close my higher interest credit cards, therefore, I will only have one bill. This is much more manageable and the debt is repaid faster. My financial situation: I am a good candidate for this loan because? I am responsible and I do pay my bills. Several years ago I ran into a bit of trouble when my husband had 2 heart attacks in 10 months and could not work and our income was reduced by over 60%. But since then I have remanaged to rebuild with my own income and stay current with no DQ's in the past 5 years. I'm stable being a home owner. My last job prior I was with the company for 18 yrs. I have now been with this company for almost 4 in the same type of position without a lapse in employment. I have a $10,000 check sitting next to me that I have not cashed due to the interest rate attached to it. I will not be adding debt only managing more wisely the debt I have incurred. Someone is going to be getting the interest on my money, it might as well be the people who have faith in me. Monthly net income: $ variable as to what is going on an how much I put in my 401k plan or which insurances I carry. I pay my bills first but always try to put a little extra away. The deposit is dependant on my needed cash flow. Monthly expenses: $ Housing: $ 1400 Insurance: $ home insurance 54 a month, car insurance 67 a month Car expenses: $ car payment 165.00 pm. Gas and maintenance about $40 per week. Utilities: $ I heat with an alternative heat source, elec app 110 per month Phone, cable, internet: $ I carry the basic and it's not a necessary need. Currently i'm paying $60 for combine communication tools. Food, entertainment: $ 125.00 Per week Clothing, household expenses $ not a budgeted amount (as funds allow) Credit cards and other loans: $ I will be paying these off with loan so the only payment I will have on these are what is due to you my lenders. Other expenses: $ Again this is subjected to what bills need to be paid
13.30%

Excellent Credit History
Looking for a installment loan to consolidate some credit card debt. Excellent Credit History and make payments on time. Just looking for a lower APR. FICO is 729 Ideal APR is 13% or below.
12.67%

medical bills
trying to consolidate medical and credit card bills for lower interst payment. Had medical bills that were unexpected.
14.88%

Recovering from Chirstmas holidays
I am trying to get back on my feet, from Christmas, and I need a loan to pay electric, gas, and rent.
11.09%

Personal Loan for purchase of home
I am in need of a loan to purchase a home, I can not get a mortgage loan because my intention was to pay cash for the home. I was expecting this 22,000 to come frome somewhere else and now I am in need of the cash to complete the purchase, I do not have long and this is my dream home.
14.88%

Investment purchase
Purchased an equity in emerging markets for future use.
9.83%

Purchase candy vending route
Hello and thank you for considering my loan request. My credit utilization is high because I financed the closing costs and renovations of two rental properties on my credit cards. Not the wisest thing to do, but they are bringing in some nice monthly cashflow. I am now looking to purchase a bulk candy vending route in the Baltimore, Maryland area comprised of 28 machines with three different types of candy in each. Each machine brings in over $250 a month. $250 x 28 = $7000/mth. The owner is moving out of state and is in a rush to sell. The purchase price is $3500. As you can see, I will be able to repay this loan very quickly. Please help make my dream of expanding my passive monthly income a reality! Thank you for your time and attention.
12.04%

Starting off on the right foot...
Ahhhh, a familiar story... I accumulated credit card debt while in college and with recent health emergencies($3400 on card, $1300 on another). Interest rates are currently around 23%. I'm a bit old fashioned and I believe in living a debt-free life (or as close to one as possible) so I'd like to consolidate these, get a better rate, and cancel the cards for good. I am just starting my career, I just bought my first home, and I hope I can start my life off on the right foot. Well, that's my sob story!
11.41%

Ratherpaypeoplebackthanbanks
Re-financing high rent credit. We have great credit and payback history. Would rather pay that rent to other folks, not to banks. Not interested in paying bankers to support sporting and entertainment events; building larger buildings than the next bank.
9.51%

Wedding
I am having a wedding in June in which Me and my fiance need to borrow 5,000 to cover our expenses for the wedding.
9.51%

Moving - Need some money
Need a little bit of money to move.
10.14%

Improving Visibility
After 2 pretty good years, my window coverings business is ready to expand. I would like to take out a number of ads: weekly homebuyer guide, a local victorian home estate agent, and start a direct marketing campaign to new homeowners. We gross ~$3k/month part-time and would like to double our income. We are ready to grow and prosper!
10.14%

Credit Card Debt Loan
I need to consolidate my credit card debt to avoid high interest and periodic fees.
9.20%

Pay off Credit Card
I would like this loan to pay off two credit cards with rather high interest rates. I always pay well more than the minimum but am sick of getting hit with the high finance charge. I no longer purchase anything with either card and plan to continue doing that when they are paid off.
10.78%

Car upgrades
I'm in a custom car club and want to upgrade my car I also want to pay off my other loan with this one
9.83%

Rest of payment for Lake Condo purchase
Found a recent 2 bedroom lake condo foreclosure with a SEV $46K(value = $92K) for $39K that popped up yesterday. I went to look at and had it quickly appraised today by an old friend who's business last 5 years is appraisals and it's easily worth a more than asking, but Michigan is hit hard in a recession and 2) people don't search for lake condo's during the Winter time. I have about 25K liquid with more coming in; this will get me within reach of what I need for closing; figured to do LendingClub instead of a mortgage paperwork for such a short term loan or going to a credit card to get rest of the money, as I try to not use credit cards anymore. A little background, I've been an active lender on Prosper for most of 2007, and now trying out the borrowing side of LendingClub on top of being a new lender here too (iluvpcs). Here's my stat's at ericscc from prosper to see I also lend a decent about of cash ... http://www.ericscc.com/lenders/iluvpcs I don't know if I plan on letting this run 36 months, as I get extra money I will try to make extra payments but figure 2 yrs for this loan at least. I pay all dept on time as you can tell by my profile.
10.46%

loan consolidation
The money will be used to pay higher interest credit card balances.
12.67%

personal
To pay off credit card debt and consolidate bills.
15.83%

Welcome baby
This is to payback a loan from a family member that we borrowed from when our baby was born last year. We went from being a two income family to one income and needed money for baby things and to adjust to one income. We have a car we are selling, a 1999 Nissan Altima, with which we plan to repay this loan.
11.09%

Purchase new Snowmobile
I would like to purchase a newer model snowmobile for recreation use.
11.72%

A's2Zee's
Heart contentions, to leviate one credit card, school and only 1 payment before receiving diploma - and further schooling. And to get away from the up-down usage I've done to my bank accounts with maintainence fee's.
11.41%

mike click personal loan
personal loan to consolidate personal debt
12.99%

A. Schild's Chicago Real Estate Business
I'm seeking 2008 funding fund my real estate venture in Chicago, Illinois. Chicago has been and still remains to be a stable and relatively increasing Real Estate Market. Fact is, without question, that we are in a "shifting market", with buyers at the wheel. I believe 2008 and beyond will be great years for the real estate industry, but it will take education, honesty, and integrity of all the integral partners of the real estate transaction to re-instill faith to the American Homeowner and Homebuyer. This is my mission. I have outlined a seemless business plan for 2008 that embodies all these qualities and more, including a donation program to the largest non-profit organization in Chicago. These donations will come directly from my earnings as testemant to my service to the communities I serve. This funding will cover expenses such as direct-mail campaigns, supply management, technology upgrades, hiring an assistant to leverage skills and time, and perhaps, space rental for to-be team. I appreciate the consideration of this loan request and I look forward to a successful future. Together we can suceed.
15.20%

High-interest credit cards
I finished my Master's degree a little over a year ago and have been in my first professional job for 8 months. It's a great job that pays fairly well, but I am still struggling to pay off some credit card debt I accumulated while finishing my Bachelor's and Master's degrees. I have several cards with interest rates of 18.99%, 24.24%, 24.74% and 29.99%. I'd really love to finance some of this debt at a lower interest rate, especially the 29.99% card. I have no trouble paying my bills each month, but I also don't have much left over after paying them. I have no late payments on my credit report. Thanks for looking.
14.25%

Short Term Tax Loan
Need short term loan for payment of last year's estimated taxes. Need loan completed before Jan 15th. Expecting payments to arrive earlier than they did, the money is coming, however, it was delayed and I would rather pay a lower interest rate on loaned money than get penalized by the government with a higher interest rate.
9.51%

ghazi
just need it to pay off credit cards , fix my car and some extra cash
10.14%

Need a car for work
need 13000 to get a car for work and wrap up some bills.
8.07%

debt loan
tring to get a better rate than the credit cards.
13.62%

Hoping somebody granted my wish
I would like to use this money to pay off all my credit card debt, so i can get focus to save my money, thank you
11.41%

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