go to their website and apply for a loan. If you are approved, the loan is put out for investors to buy portions of it. If I want to invest $1,000, I could choose to loan it all to you on the basis of the profile Lending Club publishes about you, or I could buy $25 worth of interest in 40 different loans. Lending Club suggests the latter. That way, if you turn out to be a deadbeat, I'm out $25, not $1000 and the chances of all 40 people to whom I am loaning money turning out to be deadbeats is low.
Lending Club: My New Toy, Lending Club: How I Invested My Money, Buying Notes on Lending Club: Old or New? Lending Club: How to Sell Notes Lending Club: Month Two and Lending Club One Month Later
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