From www.bidnessetc.com -
These unsecured loans will be for a period of two years.
In the first year the interest rate will be fixed at 5% and is subject to increase or decrease based on the previous year’s performance.
A maximum rate of 9.99% can be charged in the second year and the pay-back schedule of the loan has been designed to match the cash flow.
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Editor’s Notes:
- As power- hungry, controlling and manipulative a Google is, nobody can deny their business acumen. Joining with peer-to-peer lending only makes sense for a company that is known to be ahead of the pack at all times and able to understand the next big thing.
- Up until this time, Lending Club has generated around $6.2 billion in loans.
- Google partners will have the chance to loan up to a maximum of $600,000 from Lending Club.
