The Lending And Investing Groups

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There are actually very few peer-to-peer lending and investing groups in the US that allow ordinary citizens to invest their money. Most of them are for accredited investors and not citizens. The peer-to-peer lending and investing groups listed here do not require you to undergo credit or portfolio checking, you do not need qualifications, and the starting deposits are incredibly reasonable, which means you do not have to be wealthy to start participating.

The Lending Club

This is the first publicly traded online lender in history as of when the company went public on the New York Stock Exchange. They are the largest 3rd-party investor ecosystem in the US, and remember that they are up against a lot of competition for that 3rd spot. As…show more content…
For example, if you put in $100 per month, you may like to invest it into different loans every month so you have a very diverse portfolio. You may also like to invest for different term periods from a month to five years. Or, you may choose to save your $100 per month in a savings account for a year and then put your accumulated $1200 into a single long-term loan with a good interest rate.

INSERT IMAGE - Lending Club

As A Borrower You Can Borrow Up To $35,000

The APR is not as good as you may expect with some banks, but it is also far better than what you may get with independent creditors. People that approach the Lending Club are often people that have maybe tried a bank and failed, or that are unwilling to try a bank because their credit rating is around the 500 mark.

The Lending Club found the 80% of the people that borrow from them are consolidating their debt with a lower interest rate, which is also good news for investors because it means they are helping people and they are lending to people that are experienced with debt and are actively trying to make their situation better.

During the global economic downturn, they would only lend to people with a credit rating of 660, but nowadays they will consider people with a 550 credit rating as the risk of none-repayment has gone down on the whole due to the recovering global economy. It is still incredibly difficult to get a loan with them if your credit rating is
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