Comparing Peer-To-Peer Lending Companies - OnDeck Capital VS Lending Club

Ondeck capital prosper lending clubOndeck capital prosper lending clubFrom www.valuewalk.com -

Ondeck Capital and Lending Club offer online alternative to traditional bank lending, but the business models of the alternative lenders are substantially different, according to the analysts.


Palmer and Bologna said Lending Club does not take credit risk while OnDeck Capital takes risk—the most obvious difference between the two alternative lenders.


Avant loans to borrowers with 580+ credit in up to 24 hours. Learn more now...


Editor’s Notes:

  • A major difference between these alternative lending companies is the fact that Lending Club is mainly focused on making loans available to people trying to consolidate debt or make big purchases like those involved with home renovation, OnDeck Capital is completely focused on small business loans.
  • OnDeck Capital takes on far riskier loans than Lending Club does, the major lending platforms like Lending Club and Prosper are far more stringent in weeding out low quality borrowers.
  • Lending Club doesn't move as fast to fund loans as OnDeck Capital. Both companies let small businesses apply for a loan online at any time, but OnDeck Capital gives potential borrowers a decision in just 15 minutes and then funds the approved loan within the same day.

(Go to full article)

lendkey student loans refinancing 1100


close

Copy and paste this code to display the image on your site