Lending Club has provided an alternative to bank financing with their peer to peer loan marketplace since 2007.  During that time they’ve continually been improving the process of lending and borrowing money with a peer to peer model and now they’re closing in on 25K investors.

Lending Club is giving away $2,500 cash to the person that becomes their 25,000th investor; based on their growth rates they anticipate that person will join sometime in the month of September. 

Lending Club Giveaway Rules

If you’re interested in going after the $2,500 prize, the only requirements are that you must be 18 or older and a legal resident of the US.  You have to open an account before the end of the month and link it to a verified bank account.  If you’re the 25,000th investor Lending Club will notify you by e-mail within 5 business days of the end of the month.

Lending Club Performance

I included a Lending Club review a while back about how you can borrow money with the peer lending model. 

It seems as though Lending Club has plenty of people looking for loans and in order to meet the demand they’d like to encourage more people to become investors.

They’ve been closely tracking the performance of peer loans and from July of last year to July of this year the average net annualized returns have been 9.6%.

Of course you don’t have to fund part of a loan in order to be eligible for the prize; which is a good thing because I don’t think people would want to invest any money without taking the time to learn the ins and out of the peer lending process.  Lending Club does have good tutorials and guides to help you understand the process and tools to help you search and evaulate loans.

If you’re interested in becoming a lender or entering the $2,500 cash giveaway you can enter by registering with Lending Club – Click Here.