Lending Club $2500 Giveaway

Are you using Lending Club? If not, then here’s your chance to win $2,500.

The popular peer-to-peer lending site is going to have its 25,000th investor some time this month. To celebrate this milestone, Lending Club announced yesterday that the 25,000th registered investor will receive a total of $2,500 cash from LC!

I started investing with Lending Club in February. In half a year, I have built a portfolio of 78 loans with total outstanding principal at $2,065. Though there are some minor setbacks recently (2 of my loans were late more than one month and are now in the hands of collection agency), I am still very optimistic about receiving good return from my investments (Lending Club the average net annualized return is 9.6%, which is much higher than bank savings account). And since we are moving to Virginia, I will soon be eligible to invest directly in the primary market.

If you are interested in investing with Lending Club and having the chance to win $2,500, use this like to open an account and receive $25 bonus just for becoming an lender, regardless whether you win the giveaway or not. Since peer-to-peer lending involves a greater risk than having the money in, say, a savings account, make sure you do your homework thoroughly before funding a loan. Here’s what I usually consider before investing in a loan.