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How can Lending Club offer better rates to borrowers?

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The loan application process through Lending Club bypasses many of the costs and complexity of the traditional banking system.  These savings are passed through in the form of lower rates.  Lending Club does not have the high administrative, marketing, and infrastructure costs of a traditional bank and therefore can reward members with an efficient process and cost savings.

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Financial Innovation

Borrowers hurt by the credit squeeze and investors looking to boost their returns are increasingly turning to the same place: peer-to-peer lending.

NPR

Featured Borrower


Andy

"The interest rate on my loan through Lending Club is a third less than what I was paying before, and it’s very satisfying to know that there is an end date for being done with my debt."