Hello! Lending Club is not a scam, but it is important to have a clear understanding of how it works and what to expect. It is a peer-to-peer lending platform that connects borrowers with individual investors. It allows you to invest in personal loans, providing money to borrowers who may be seeking loans for a variety of purposes, such as debt consolidation, home renovations, or small business financing. In exchange, you receive a share of the interest and principal incurred by the borrower. This may be a legitimate way to make a profit, but
is lending club a scam is not without risks. Like any investment, there is an element of risk involved. Borrowers may default on their loans, which could result in the loss of your investment. Lending Club assigns a risk level to each loan, helping you assess the level of risk associated with it.
