In a recent conference call, Lending Club announced a new way for investors with $25,000 or more to invest in peer-to-peer loans through Lending Club without having to individually select the loans they wish to fund.
Lending Club refers to this new program as its “Click Free” investment program. Essentially, it’s a way for larger investors to make loans to people through Lending Club without having to spend a substantial amount of time choosing which loans to fund and which loans not to fund. Lenders can now make large investments distributed across dozens of loans without having to invest a substantial amount of time on their investment.
Lenders simply have to choose their target credit risks and interest rates they want to borrow at, then when loans come along that meet those qualifications, their money will be automatically invested into the program.
During the call, Lending Club also announced that they were offering a 2% bonus on any invested funds during the month of September for balances over $10,000. If you open an account or have an existing account and add $10,000 worth of funds or more, you’ll get a 2% bonus on anything that you deposit through the month of September. To qualify for this bonus, contact Lending Club’s investor services and they will get you setup to receive the bonus.
This new automated investing program will help turn Lending Club from a novelty investment into something that larger institutional investors can use as a new asset class to help diversify their funds. Although peer-to-peer loans have a long way to go before they are standardized as a stock or bond, they are quickly gaining reputability.
