If you begin exploring peer to peer lending, you are guaranteed to encounter Lending Club. There is no escape. With four years of solid history, an 85% share of the market, and above 100,000 issued loans totaling over $1 billion, this single company from San Francisco currently dominates the industry and news cycle.
So does it deserve all this hype? Should you open an account through them? What kind of experience can you expect when investing through Lending Club?
In this Lending Club review we will examine the entire platform from the foundation up, highlighting its strengths and identifying its weaknesses.
Similar to our review of Prosper, this post is written for those of you who have yet to take the leap and begin peer to peer lending. Our goal is that, by opening up the platform with a full Lending Club review for the general public, there will develop a greater sense of trust for the idea of peer to peer lending, and in parallel we will bring more people to open an account and try it for themselves.
Let’s get started.