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Lending club started out is one of the very first Facebook apps, and became available in 2007, as Facebook’s circulation grew at a constant and incredible rate, so did the exposure to the lending club’s new (or old) way of conducting loans – borrowers create a listing on lending club’s website, they supply the listing with personal information along with the loan they are seeking, the lending club then runs a few financial checks on those asking for loans and assigns each loan request a grade which informed potential lenders of the loan’s viability, after being approved by the lending club, loans appear on the site where lenders can literally browse the various requests and select those that they wish to supply funds for. via Ambitious News