Lending Club Borrowers Praise Low Rates, Responsible Credit

Posted by Renaud Laplanche :: August 25, 2007 @ 12:35 pm

Lending Club Members Speak Out Series

We continue to receive many comments from our members. This weekend, we would like to share a few more comments from Lending Club borrowers, who often focus their remarks on Lending Club’s better interest rates, convenience, and more responsible approach to credit.

“It was very easy and straightforward, and I received my loan within the same week that I applied for it. I used the money to consolidate my credit cards into one easy monthly payment, which makes them easier to pay off coming out of college.”
-- Brian, 22, from South Boston, MA

“I loved how quick and easy it was to get a loan, I really enjoyed that I got to track how many people were able to help me out up to minute since it is all done online. The site also sent me updates while everything was going on so I didn't have to worry. Being a just out of college adult and having student loans, I wasn't able to get such a great rate with anyone else. The rate I got was at least 5% less than my other options.”
-- Stephanie, 24, from Atlanta, GA

“I used Lending Club to get a better rate and pay off my credit cards. I had $5,000 on credit cards with an average APR of 20 %. I paid off the amount in full and I just have one Lending Club bill per month. I am saving 50 % on interest every month which I used to pay to my credit card companies.”
-- Sharad, 25, from Syracuse NY

"Lending Club made it possible for me to get the money I needed without a ridiculous rate. With credit cards, you'll bury yourself with service fees and cash advance fees. Glad I chose the better route. Thanks, Lending Club!”
-- Jim, 22, from Austin, TX

These and other testimonials will soon be available on our secure site at http://secure.lendingclub.com. If you are a lender or a borrower on Lending Club and have your own success story to share, we’d love to hear from you. Leave a comment on this blog or write directly to feedback@lendingclub.com.

We had a busy week here at Lending Club, so we’re going to enjoy the weekend, watch a few videos and relax until tomorrow’s upgrade at 8pm Pacific.

Renaud