Michael Miller says
Could somebody please explain in my opinion if the ongoing business goes bankrupt, how a cash is paid back because of the debtor. And when the note comes down to your additional business and the business goes broke how a burrower repays the note? Michael Miller
Neal Frankle says
Michael – great concern. We have expected Lending Club to react. Let’s see just what they state.
Dan Hyslop says
Neal, Exactly what are the charges incurred whenever you spend with Lending Club? Dan
Neal Frankle says
Not exactly true, Frank. LC cost a 1% service fee on all records bought by purchasers (investors). In addition they charge solution charge on vendors (borrowers). Afterall, that’s exactly how LC creates earnings.
Yes… LC does charge 1% cost to investors, even though rate of interest they reveal for loans may currently have that 1% deducted ( perhaps perhaps maybe not yes). Continue reading “Lending Club Review for Borrowers and Investors”