Lending Club Referral Program - It’s Official!
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Although not yet formally announced, Lending Club now has an affiliate referral program. Rex Dixon, Director of Social Media Content at Lending Club, has confirmed it in the P2PNoBank Forums. I believe the deal is the same as Prosper’s referral program — $25 for both referrer and the new person who signs up using the link. However, the details are still vague, so check back at the forum while Rex answers more questions about the affiliate program. I’ll also post a summary of the clarifications.
Update: The referral program is now $25 to $50 cash bonus. $25 for funding your account with $500 or receiving a loan and $50 for funding your account with $1000
Create your Lending Club affiliate link like the one below replacing your Lending Club ID with mine: https://secure.lendingclub.com/refer.action?referrer=PersonalLoanPortfoliocom
Please note that I do not recommend using the email system at Lending Club for referring people until they have addressed the issue of the second link to Lending Club not containing the referral code. I mentioned this issue on P2P No Bank forums. Instead you should construct your own email using the link format above to insure that both parties receive the credit.
Update (11/21/2007): Rob from lending club posted some clarifications on the Lending Club affiliate program.
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Dear Personal Loan Portfolio:
Indeed, it is official, and I did make it part of the new features announcement today, which you also covered.
The terms are as follows:
When you refer friends to Lending Club and they become borrowers or lenders, we will deposit a bonus into both your and your friend’s Lending Club accounts:
* $25 when your friend successfully submits a loan application
* $25 when your friend opens a lender account with $1-$999
* $50 when your friend opens a lender account with $1,000 or more
You can use 2 different links:
LINK 1:http://www.lendingclub.com/landing.action?referrer=ScreenName
This one drops referrals on our home page, and if the user creates an account within the same session, you get the bonus. Use this for friends that still may need to read more on the concept before signing up.
LINK 2: http://www.lendingclub.com/refer.action?referrer=ScreenName
This one drops referrals on the sign-up form. Use this for friends you think are ready to sign.
You can add these links to your site or email to your friends as much as you want.
We are working on the issue you reported regarding the second link in the email not tracking the referral.
Happy referring!
Rob Garcia
Web Production, Director
Lending Club
Rob, Thank you again for stopping by and commenting. This program is exciting — especially now that it is completely official. I was concerned that you would ask me to remove the link as a violation of TOS since I backed into the link with my love of tinkering. It is that some curiosity of knowing exactly how things work that interested me in P2P lending, so I am glad that you officially approved the program. Also, thanks for taking the time to provide some clarification.