Lending Club is a social lending network where members can borrow and lend money among themselves at better rates. Simple. But Lending Club is also more. Less than a year ago Lending Club was a peer lending application that let users take out loans funded by other users. By the middle of last year, a month after it passed the one hundred thousand mark, Lending Club passed the $500k mark for lent and borrowed money among members. Since then it has grown into a full website. Much like the social finance website Zopa, Lending Club is looking to turn the lending industry upside down.

From Mashable’s, Lending Club 6 Months Later: Does Peer-Lending Work?:

Based on varied interest rates as determined by the individual lenders on a per-case basis, the ROI (return on investment) is high, and the loss has been low. With $3,525,660 lent, only $15,865 has been 16-30 days late.

While traditional lending and borrowing has suffered because of the credit and market crises, a new wave focusing on peer to peer (P2P) transactions has risen over the last couple years, driven by new web technologies (web 2.0) and startup companies. Lending Club has started and grown its service targeting existing groups such as university alumni. And they might just have the edge over their competitors. Unlike Zopa and Prosper, which are its direct competition, Lending Club is the first to integrate its services into a social network (Facebook). Read more…

Facebook, everyone’s favorite social network (except mine), is the hub for connecting over the internet. Not only is it a social network with near limitless options and doodads (doodads is a technical term), but it also doubles as a marketplace, photo album, arcade and one of the best ways to pass time while you are supposed to be working. Facebook was originally for college students so its only appropriate that it still has a ton of ways to help those same students earn a little extra money to help pay for beer student loans. Here are a couple to get you started.

Sell your old stuff in Facebook’s marketplace. Unlike selling things through Ebay, which takes a cut from your profit, the Facebook Marketplace is free. The marketplace is also a good place to look for a job. Companies are now realizing the need to present many sides of the business to the public and joining Facebook does just that. It’s also a helpful place to look for new talent and scope out potential hires. Good for companies and job seekers.

Do you need some extra cash? Are you an expert in some subject? The Ether Facebook Application just might be the thing for you. Here is the gist: Read more…