You are not actually making loans to borrowers, so you are not “lending.” Instead, you are “investing” in a Member Payment Dependent Note. The Notes are further described in a Prospectus filed with the Securities and Exchange Commission. It is important for you to read the Prospectus before investing.
- Am I “investing” or am I “lending?”
- Where are LendingClub's latest sales reports and SEC filings located?
- Who are the borrowers and what do they need the money for?
- Why do borrowers with great credit need LendingClub?
- Is my money insured through the FDIC?
- Who is servicing the loans?
- How does LendingClub make money?
- What is LendingClub offering as an investment?
- Are LendingClub Notes liquid?
- What is the default and/or charge-off rate on loans facilitated by LendingClub?