Hi GingkoCapital Blog,
I've made an small pilot experiment investment with Lending Club and it has seemed to pay off. I wanted to share this with you.
Lending Club enables individual investors and well-qualified borrowers to get better rates than with banks or credit card companies. Their straightforward, online approach operates at a cost much lower than the big banks.
It's no secret that banks are now charging people with good to excellent credit 15%-25% interest for loans and credit card debt.
Lending Club offers a better alternative with a simple and transparent model that leverages 50 years of credit default trends to set interest rates.
The result is that Lending Club facilitates loans at an average rate of 14% -- a lower rate than most creditworthy borrowers pay on their credit cards today.
And Lending Club investors have earned an average of 9.05% in the last 20 months. That's because when you cut out the costs of traditional financial institutions' overhead and complexity, you end up with a better rate for borrowers and better returns for investors.
https://www.lendingclub.com//invite/respond.action?int=67555&referrer=gingkocapital
Best,
Yinglan
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