Lending Club is a social lending network where members lend and borrow money from each other at better rates, bypassing the banks. They have already issued more than $20,000,000 in loans at better rates than banks’ and they are looking to spread the word of this great alternative. Unlike banks and credit card companies, social lending operates entirely online at comparatively much lower operating costs, helps borrowers and lenders connect directly, and passes the savings on to them in the form of better rates for everyone.

Without expensive overhead such as maintaining things like physical branches, staff and ATMs, Lending Club is sustained simply by charging small origination or processing fees per transaction.

Online loan application

Lending Club makes getting a personal loan easy and convenient. The entire application and approval process is free and takes mere minutes. You can choose how much money you would like to borrow, instantly learn how low of an interest rate you qualify for, and then confirm the amount or pick a different amount at a different rate—all in real time, online and with no hidden costs or charges.