Lendingclub.com is a “person-to-person” lending site, promising better rates than those found at a bank. Borrowers set up profiles, share their stories, and obtain loans from willing individuals at a rate calculated by the site.
Prosper.com is similar to Lending Club, but sets interest rates differently. Borrowers choose a maximum rate, which lenders then “bid down” in an auction. Currently in a “quiet period” required for SEC approval.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Hamas frees US hostage in deal sidelining Israelspeed read Edan Alexander, a 21-year-old soldier, was the final living US citizen held by the militant group
-
White Afrikaners land in US as Trump-declared refugeesspeed read An exception was made to Trump's near-total ban on admitting refugees for the white South Africans
-
RFK Jr.: A new plan for sabotaging vaccinesFeature The Health Secretary announced changes to vaccine testing and asks Americans to 'do your own research'
