Many of the loans I invest in are debt consolidation loans to help people that are looking for unsecured, low rate, fixed loans to pay off more expensive debt.
I logged on today to see how my account was going and noticed that LendingClub.com now offers loans up to five years. Previously it had only been three years.
The new five year notes appear to be marketed towards consumers that are looking for a lower monthly payment and investors who are looking for a higher return.
If you or someone you know is looking for an unsecured, fixed rate debt consolidation loan it might be worth checking out LendingClub and comparing their three year and new five year loan options.