LendingTree (ticker: TREE) and LendingClub (ticker: LC) have come across my radar as they are growing quite rapidly with what seems to be a good business model – they’re online marketplaces for P to P loans.
However, I will say that I am skeptical, as I have a friend who got one such loan via LendingClub for roughly $15,000, and her interest rate is something like 14%, which to me seems almost usurious.
Before I delve any further, I was just wondering if these companies have been discussed previously, or if anyone has any info on them at the ready.
Thanks,
Bear