Duncan Riley of Techcrunch published an article a couple days ago about Lending Club surpassing the $100,000 mark in loans to Facebook users. This is pretty remarkable. The concept behind Lending Club is pretty simple. Users get better rates than their personal savings accounts by lending money to other users that have gone through a credit check. The benefit to borrowers is significantly lower rates than banks typically charge. It is a highly effective lending system and is poised for explosive growth. This is a significant amount of money that has already exhanged hands via Facebook and there is already over $200,000 in outstanding applications that have yet to be approved. This is big. If you want to get in on the personal lending action then go grab the Lending Club application.
Personal Lending Becomes Popular on Facebook
Posted by Nick O'Neill on June 22nd, 2007 12:30 PM
Recommended Articles
AllFacebook Marketing Conference Returns to San Francisco
Mediabistro Event
The AllFacebook Marketing Conference is returning to San Francisco on June 28-29. Join us and get a how-to guide for marketing to Facebookâs 800 million users. Special early pricing is available for only $249 until February 15, so register today. A full agenda will be announced soon. Keep an eye on our event site for more information
Send us a Tip
tips@allfacebook.com
![[Inside Social Apps 2012]](http://www.allfacebook.com/wordpress/wp-content/themes/allfacebook2/images/ISA2012_336x100_F_RegisterNow.gif)
![[AllFacebook Stats: Facebook Analytics for Your Business]](http://www.allfacebook.com/wordpress/wp-content/themes/allfacebook2/images/stpro_allfacebookstats.gif)
![[How can Facebook change your business?]](http://www.allfacebook.com/wordpress/wp-content/themes/allfacebook2/images/FMB_A_MAY2011_336x100_F.gif)
Upcoming Events
AllFacebook Marketing Conference
June 28-29, 2012 | San Francisco
Your how-to guide for Facebook marketing.
Cool concept, but this requires a lot of trust on both parties. I recently saw a website similar to this that actually helps you secure a loan between your and a family member or friend.The website is called <a href="http://www.one2onelending.com” target=”_blank”>www.one2onelending.com
Comment by Alex — October 8, 2008 @ 7:47 am