Lend Academy Network Forum

Lending Club Discussion => Investors - LC => Topic started by: GS on June 08, 2013, 09:41:50 PM

Title: Has LC ever offered a bonus to sign up borrowers?
Post by: GS on June 08, 2013, 09:41:50 PM
With LC seemingly suffering from a supply/demand problem, wouldn't it make sense, and be nice, if account holders could get a bonus for referring a borrower who gets a loan?  Like, I refer a friend, I get $50 to invest.  LC really needs to step up their game when it comes to making their benefits known and attracting new borrowers.  Who better to spread the word and attract borrowers than the investors?  I got my wife's friend interested in consolidating her credit cards by accident.
Title: Re: Has LC ever offered a bonus to sign up borrowers?
Post by: rawraw on June 09, 2013, 08:12:09 AM
There used to be sign up promotions.  But I don't know about inviting bonuses.
Title: Re: Has LC ever offered a bonus to sign up borrowers?
Post by: LonghornSF on June 10, 2013, 05:16:48 PM
The problem with a borrower bonus is most borrowers won't be repeat customers and thus it would be tough for LC to recover the bonus. Investors are quite different since most of us will be around for awhile making $1000s in loans on LC. It's just not compelling for LC to offer a borrower bonus.
Title: Re: Has LC ever offered a bonus to sign up borrowers?
Post by: New Jersey Guy on June 10, 2013, 05:22:12 PM
"I got my wife's friend interested in consolidating her credit cards by accident."

Check with Rawraw.  I heard he's paying $50!
Title: Re: Has LC ever offered a bonus to sign up borrowers?
Post by: rawraw on June 10, 2013, 06:29:01 PM
"I got my wife's friend interested in consolidating her credit cards by accident."

Check with Rawraw.  I heard he's paying $50!
We both know I'm in the big leagues with the $100 offer ;)
Title: Re: Has LC ever offered a bonus to sign up borrowers?
Post by: Rob L on June 11, 2013, 12:51:14 AM
Maybe LC is growing as fast as they think they can safely grow and already have as many borrowers as they can handle. Lenders are beating down their doors. I do think they are really trying to balance institutional, high net worth and individual investor demands. Even in the "new reality" we individuals are still getting 1/3 of the loan pie today. We would all like a bigger pie, but LC can only grow just so fast without unacceptable risks. I Googled "Credit Card Consolidation Loan". LC did have a small paid ad 7th down on the right side, but not in the top of page ad grouping. Prosper was the second unpaid result, LC was on the second page of unpaid results. Either LC could use some real SEO help (very doubtful considering the company they keep), or they aren't trying very hard to attract more borrowers right now. Hard to drink from a fire hydrant. Like Goldilocks they have to get it just right; the IPO date will be here before long.