4 of 7
BACKNEXT
Lending Club
Lending Club
Lending Club thinks you can get a loan at a better rate through social lending than what you're getting now at the bank.

Lenders who enroll with Lending Club browse borrower profiles and requests on Lending Club's Web site and choose loan requests they'd like to fund. The interest rates on those loans vary depending on the borrower's credit score; they range from 7.37% to 19.36%. Those interest payments go directly to lenders, who pay Lending Club a 1% service charge.

"Currently, 25% of loan requests are for financing small businesses," says CEO Renaud Laplanche. "There's a connection between the lenders and the borrowers, where they can anonymously ask each other questions and talk about where the money will go before they become partners. And because the process is online, it's quicker and more efficient than going through the banks."

NEXT: Loanio

LAST UPDATE: Oct 29 2008 | 12:24 PM ET
Sponsored by
More Galleries
5 startups that are reimagining the world Bricks that grow from microorganisms, household garbage turned into art, three-wheeled bike-cars -- these startups are redefining urban living. More
Blue collar entrepreneurs These five entrepreneurs took their blue collar experience and used it to launch innovative businesses. More
7 lifehacks to eliminate your holiday hassle Whether curating the perfect gift or finding a pet-sitter, these startups offer time-saving services that might just seem like holiday magic. More
Sponsors

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.