How they describe themselves: Lending Club brings together investors and creditworthy borrowers to provide value beyond traditional banks for both. Premium borrowers can get personal loans from $1,000 to $25,000 at fixed rates often significantly better than those offered by conventional sources. Investors (our lenders) are empowered to build a portfolio of Notes based on their specific criteria. Most investors spread their investment across tens or hundreds of qualified borrowers.
What they think makes them better: Lending Club provides superior value and control to both investors and borrowers. Creditworthy borrowers can take advantage of a streamlined, online process, competitive fixed rates, easy monthly payments, and no hidden fees. For lenders, money invested goes directly to approved borrowers. Over the past 20 months, Lending Club investors have earned an average annual return of 9.05% (based on a report by independent research company, Javelin Research), after a low 1% fee.