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Debt Consolidation Lender Has Too Much Money to Lend. Needs Customers.

By on March 16, 2010
Debt Consolidation Lender Has Too Much Money to Lend. Needs Customers.

LendingClub.com just told me that they are backing up with too much money to lend to consumers and are in search of people that are looking for fixed rate, unsecured loans.

LendingClub.com is a people-to-people lending network that typically charges lower interest rates than banks and makes the borrowing process automated, online and less scary.

Individuals like me lend money though LendingClub to help other people that have a need. A majority of these loans are used to consolidate high interest rate debt to a lower fixed rate loan that is paid off in three years or less.

And not only is LendingClub and attractive place for people to secure debt consolidation loans but as evidenced by their surplus of cash to lend it is also an attractive place for people to lend money for a much higher rate of return than they can get elsewhere.

As an investor myself and as someone that has recommended LendingClub.com to readers and friends I am very happy in their performance. Please visit LendingClub for more information.


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About Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

2 Comments

  1. Miss C in FL

    March 17, 2010 at 10:43 am

    What a great problem to have, but I can understand why there’s a surplus with a lot of people needing money that have fallen below the 660 mark. Best of luck and when we’re thru our bankruptcy, we’re going to become investors here; we think it’s an awesome tool for those who need it!

    • Steve Rhode

      March 17, 2010 at 10:52 am

      Miss C,

      I agree. I really love being an investor. It allows me to help others in a safe environment.

      Steve

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