I have recently been turned on to Lending Club as a way to invest small amounts of money and in order to receive 10% interest on the money loaned. Like many people, I have been pretty disappointed in CD's (certificate of deposits) and other IRA accounts. Even my works retirement plan is performing so poorly that it is almost not worth doing.
Those needing money can consolidate debts and borrow money to help with credit cards and mortgage rates. Here is an example:
Lending Club allows you to put small amounts of money up to lend, spread across multiple notes in order to receive small monthly payments. You can also do it as an IRA Investment options. There is also the option to lend to riskier notes, or safer notes with the riskier notes earning a higher percentage. There is always a chance that the loans could default and you could lose money on that note. Although Lending Club has a pretty good system for approving those asking for a loan.
There is also a pretty sweet referral program at Lending Club which can net you some pretty sweet bonuses for getting other people to try it out. So if you have a little extra money that you plan to save you should check it out.
Those needing money can consolidate debts and borrow money to help with credit cards and mortgage rates. Here is an example:
Lending Club allows you to put small amounts of money up to lend, spread across multiple notes in order to receive small monthly payments. You can also do it as an IRA Investment options. There is also the option to lend to riskier notes, or safer notes with the riskier notes earning a higher percentage. There is always a chance that the loans could default and you could lose money on that note. Although Lending Club has a pretty good system for approving those asking for a loan.
There is also a pretty sweet referral program at Lending Club which can net you some pretty sweet bonuses for getting other people to try it out. So if you have a little extra money that you plan to save you should check it out.
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