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Former treasury head Larry Summers is on board. So is the former head of visa and google purchased a stake in lending club as well giving the Young Company a valuation of 1. 5 billion. Now at its heart, lending club is simply a dating service for money. A person in need posts his or her request and you can lend that person cash. You can cover some small part of the loan, as little as 25 or fund the entire thing. Nearly 3 million changes hands on lending club every single day. Cofounder and ceo of lending club came up with the idea when he noticed his credit card charged him 18 interest for debt and bank paid 1 for his deposits. So i dont think we can start this without explaining how it works. I have some money. I go on and can find a loan i think is interesting and contribute the money, right . You diversify your investment take my money and split it up. Across fractions of loans. If you make a 10,000 investment, most likely youre going to invest in 400 different loans and take 25 fra

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