This article gives you an easy briefing on the basics of peer-to-peer lending, and walks you through the Lending Club login account creation process
More and more people continue to flock towards platforms such as Lending Club myinstantoffer for their financial needs. If you too wish to enjoy the benefits they have to offer, the first thing you’ll need to do is create an account on their website. In this article, we’ll take you through all the steps you need to create and manage your account on this peer to peer lending site.
Like most finance based websites, creating an account will require you to fill in and verify your credentials. Once you go through this procedure and are verified, you will be free to access your account and apply for loans from various lenders.
Myinstantoffer.com Lending Club is a peer to peer lending platform. It is based in the United States and its financial aspects are managed by WebBank.
What is Lending Club Myinstantoffer?
A peer to peer lending platform basically connects potential investors and people looking for loans. People or businesses that are looking for investment opportunities loan their money at relatively low interest rates to people looking for loans.
This means lower interest rates especially for people with credible financial applications. You can also apply for quite large loans up to $40000 with a minimum of $1000.
These loans have lower eligibility criteria compared to regular financial institutes such as banks. However similar to these institutions you will need to provide your personal and financial detail while applying at myinstantoffer.
Once you provide all these details while making an Lending Club login account, you can review the various loans available and apply for one that you find suitable.
Your case will be reviewed, and will be judged on various factors such as the amount of money you have asked to loan, your credit score and your financial history if any. If anyone wishes to invest in your case, you will be notified of the interest rate which will be calculated on the factors mentioned before. Always review and agree with the lender offering you the lowest interest rates. Once both parties have given their consent, the finances will be processed and dispersed within 3 to 4 working days.
As mentioned before the financial aspects of this will be managed by WebBank, meaning this is where the investors will give their money and also where the borrowers will be getting their money from.
There are also some pre requisites for being an investor. You must have an income of at least $70000, however your income cannot exceed $250000.
Now that you know the basics of what myinstantoffer is, and how it works, let us move on to creating your account.
How to Manage Lending Club Login?
- Search for the lendingclub website on your search engine
- Once on the web page, locate the sign In button on the home page.
- You will be asked to provide your password and email address. Before providing these, please make sure you are not using a public wifi network as these are very insecure and could pose a threat to any confidential financial information transmitted over it.
- After entering your credentials press enter to login Lending Club to your account and continue.
If you have misplaced your password, there is a “forgot password” feature to help you recover it. Just click on that option and follow the instructions.
Sign up to Creating a new Lending Club Account
If this is your first time on the Lending Club website, you will need to create a new account. Here’s how:
- Visit the Lending Club website from a secure network and secure computer.
- Click on the “sign in” option on the home page.
- Once on the sign in Lending Club page you will see an option asking “don’t have an account yet?” Click here to proceed.
- In front of you now, there should be an application form with various entries that you must fill out including personal details such as your contact information and financial details. Fill in the form and click on “next”.
- Once your account is verified, you will be asked to choose an investment strategy. Once you have done this, your account is complete. You can now apply for loans and enjoy the various benefits offered online by my lending club!