Pool Doctor of the Palm Beaches Partners with Lending Club

New financing options are available for homeowners that wish to renovate or build a pool on their property.

In 2014, American consumers are still suffering from the effects of the financial upheaval fromthe early part of this century. Banks and other lending institutions severely cut back on consumer loans. This left a financing hole for many home improvement projects. If a homeowner needed to renovate an old pool or build a new one, they either needed to have sufficient savings or look into getting a second mortgage. The latter option wasn’t a guarantee either, as those were also curtailed and more difficult to secure.

Other financing institutions stepped in to fill the void. In 2007, the Lending Club became the second peer-to-peer lending platform to be founded in the US. The goal was to supply financing for consumer loans by pairing those loans with direct private investors. Its online platform brings together creditworthy borrowers and lending investors as an alternative to traditional bank loans. Businesses offering services such as pool repair or construction began working with the Lending Club, and other peer-to-peer lending institutions, to offer consumers an easy financing solution.

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This month Pool Doctor of the Palm Beaches is announcing that it has partnered with the Lending Club to offer financing for customers in the Palm Beach, Florida area. Those that take advantage of this opportunity may obtain an unsecured loan for up to $35,000, which they can use to renovate, repair, or construct a new pool in their backyard. To be considered for a loan applicants must meet certain requirements, such as be an American resident of proper age, have a valid bank account, and have a minimum credit score of 640. Those that secure a Lending Club loan via the link on Pool Doctor’s website will automatically receive a rebate of 1% of the loan amount.

Peer-to-peer lending is revolutionizing the banking community. Companies, such as Google, have invested significantly into it. In the US, these platforms have issued over $250 million dollars worth of loans. Private investors backing these loans have received higher returns on these loans than they would elsewhere (on average around 10%). What began as something of a social experiment has now become a viable mainstream alternative. In a strange turn of events, even banks are getting into the action and creating investment options in these platforms.

For more information on how this peer-to-peer lending option can help you obtain the pool of your dreams, contact the Pool Doctor of the Palm Beaches at (561) 203-0270 or visit www.poolspalmbeaches.com/contact-us/.

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Media Contact:
Barbara Williams
Pool Doctor of the Palm Beaches
561) 203-0270
Barbara@poolspalmbeaches.com
www.poolspalmbeaches.com/