Y ou've probably heard of crowd funding web sites like Kickstarter that function as online forums for investors to fund new business enterprises or community projects. People fund these ventures because they believe a given solicitor's work has intellectual merit, serves some worthy ideal, or includes a compelling new technology. Contributors do not receive any equity or financial return in exchange for their "investment". There are also online forums for "Debt Crowdfunding" which reward investors with a financial return on invested capital. One leader in this space is Lending Club Corporation which was incorporated in 2007, trades on the NYSE under ticker LC and is registered with the SEC. A competing company is called Prosper Funding LLC. Lending Club touts itself as " the world’s largest online marketplace connecting borrowers and investors " and it has made a palpable impact on the future of consumer lending by facilitati...
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