Comments on: $25 Sign-up Bonus from Lending Club http://cashmoneylife.com/2009/02/05/25-lending-club-sign-up-bonus/ Money Management, Small Business, Career Fri, 19 Mar 2010 14:05:17 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Ryan http://cashmoneylife.com/2009/02/05/25-lending-club-sign-up-bonus/comment-page-1/#comment-16493 Ryan Sun, 08 Feb 2009 02:24:49 +0000 http://cashmoneylife.com/?p=1359#comment-16493 <strong>Imani: </strong>That is correct. Lending Club makes money by processing loans, which are 100% funded by lenders, not by Lending Club. There are more people wanting to borrow than there are lenders, so Lending Club is looking for more people to lend. To introduce more people to P2P lending, they are offering a $25 bonus to sign up. You could consider it an advertising expense on their end. Before signing up for a Lending Club account, here are some articles to help you understand a little more about what P2P lending is and how it works: <ul><li><a href="http://cashmoneylife.com/2008/01/14/what-is-peer-to-peer-lending/" rel="nofollow">What is Peer to Peer Lending?</a></li> <li><a href="http://cashmoneylife.com/2008/02/05/peer-to-peer-lending-safe/" rel="nofollow">Is Person to Person Lending Safe?</a></li> <li><a href="http://cashmoneylife.com/2008/02/22/peer-to-peer-p2p-loans-guaranteed/" rel="nofollow">Are Person to Person Loans Guaranteed?</a></li> </ul> The short and easy answer is that with P2P lending, you act as the bank and make loans to people who meet certain standards. Lending Club facilitates the loan and takes a percentage. The process is safe and legal, but the loans are not guaranteed, meaning you could possibly lose some or all of your investment, so I would only recommend investing money that you don't need right away. Keep in mind that a standard loan is 3 years, so your money may be tied up for some time. I have an account with Lending Club and so far, I have received good returns on my investment (approximately 10%). You can read more about it here: <a href="http://cashmoneylife.com/2008/07/01/p2p-lending-prosper-lending-club-sec/" rel="nofollow">P2P Lending Update</a> To get the $25 bonus, you must use this link, which was given to me specifically by the new lender team at Lending Club: <a href="http://cashmoneylife.com/deals/resources/lendingclub-25bonus.php" rel="nofollow">$25 Lending Club new lender bonus</a> Good luck if you decide to do it. :) Imani: That is correct. Lending Club makes money by processing loans, which are 100% funded by lenders, not by Lending Club. There are more people wanting to borrow than there are lenders, so Lending Club is looking for more people to lend. To introduce more people to P2P lending, they are offering a $25 bonus to sign up. You could consider it an advertising expense on their end.

Before signing up for a Lending Club account, here are some articles to help you understand a little more about what P2P lending is and how it works:

The short and easy answer is that with P2P lending, you act as the bank and make loans to people who meet certain standards. Lending Club facilitates the loan and takes a percentage. The process is safe and legal, but the loans are not guaranteed, meaning you could possibly lose some or all of your investment, so I would only recommend investing money that you don’t need right away. Keep in mind that a standard loan is 3 years, so your money may be tied up for some time.

I have an account with Lending Club and so far, I have received good returns on my investment (approximately 10%). You can read more about it here: P2P Lending Update

To get the $25 bonus, you must use this link, which was given to me specifically by the new lender team at Lending Club: $25 Lending Club new lender bonus

Good luck if you decide to do it. :)

]]> By: Imani http://cashmoneylife.com/2009/02/05/25-lending-club-sign-up-bonus/comment-page-1/#comment-16492 Imani Sat, 07 Feb 2009 23:25:26 +0000 http://cashmoneylife.com/?p=1359#comment-16492 Hey, Ryan... This seems almost too good to be true and you know what "they" say about that. Let me see if I understand correctly, I get $25 to sign up as a lender and can use that to sponsor a loan and then get interest on that amount as the loan is paid off by the borrower? Thanks, Imani Hey, Ryan…

This seems almost too good to be true and you know what “they” say about that.

Let me see if I understand correctly, I get $25 to sign up as a lender and can use that to sponsor a loan and then get interest on that amount as the loan is paid off by the borrower?

Thanks,
Imani

]]> By: Ryan http://cashmoneylife.com/2009/02/05/25-lending-club-sign-up-bonus/comment-page-1/#comment-16481 Ryan Sat, 07 Feb 2009 02:07:24 +0000 http://cashmoneylife.com/?p=1359#comment-16481 <strong>Steve: </strong>Yes, Steve, you can do that as well. The offer through my site will give visitors the opportunity to receive $25 for signing up, which is a great incentive to try this new lending platform. :) Steve: Yes, Steve, you can do that as well. The offer through my site will give visitors the opportunity to receive $25 for signing up, which is a great incentive to try this new lending platform. :)

]]> By: Steve http://cashmoneylife.com/2009/02/05/25-lending-club-sign-up-bonus/comment-page-1/#comment-16474 Steve Fri, 06 Feb 2009 20:42:24 +0000 http://cashmoneylife.com/?p=1359#comment-16474 I signed up for LendingClub for the $25 bonus only to find that I am now capable of referring people for a $50 bonus. Boy do I feel like I missed out. I've already successfully referred two people for $50 bonuses. I signed up for LendingClub for the $25 bonus only to find that I am now capable of referring people for a $50 bonus. Boy do I feel like I missed out. I’ve already successfully referred two people for $50 bonuses.

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