For Gold, Peace, and Freedom


Karlonia Approved for LendingClub.com Affiliate Program

March 3rd, 2009

Try it Now! Join Lending Club.Today I was approved for another affiliate program at LendingClub.com, a site that presents some interesting opportunities not only for earning commissions but also for investing or borrowing. LendingClub is a peer-to-peer lending network where people can acquire personal loans from other people who have money available to finance them. It is an alternative to both traditional banks and loan sharking, with perhaps the best benefit being that ordinary people can function as either borrowers or lenders depending on their financial situation.

As a lender, it is possible to achieve annual returns in the 7-19% range, something that is practically impossible with regular savings accounts or time deposits (CDs) because of the pitifully low interest rates set by the Federal Reserve and other influential financial organizations. It also avoids the types of risk associated with investing in the stock market either through individual stocks or mutual funds.

With peer-to-peer lending, you have the opportunity to vet the prospective borrowers, choose the specific amounts that you feel comfortable with lending to each applicant, and minimize risk from defaults by diversifying your investments among many different entities. In case of LendingClub specifically, there is some additional protection for lenders in the fact that only borrowers with relatively good credit ratings are accepted for loan applications with the network. Borrowers must also not have any current deliquencies.

As an affiliate, it is possible to earn commissions of $35 for each borrower who is referred to LendingClub and successfully completes a loan application. This amount increases to $40 if the affiliate manages to refer 11 or more such leads within a single month. Meanwhile, referring lenders is also profitable - there is a $50 bounty for each person who shows intention to lend by completing the registration process within 45 days of clicking through to the site. Interestingly, these people do not need to actually lend money through the network in order for us to qualify for the commission; they just need to submit valid information and have a bank account.

If you want to join LendingClub as a lender or borrower, you can click on one of the banners in this article to visit the site. If you want to become an affiliate, you can apply through the Commission Junction network at cj.com. Here is the welcome mail that I received which will supply you with a few additional details.

We are delighted you have joined us in our quest to help people get better rates on personal loans. We look forward to a long and profitable affiliate relationship.

Lending Club is a social lending network where members lend and borrow money from each other, at better rates.

Our borrowers can apply for up to $25,000 as long as they show responsible credit (660 FICO, no current delinquencies, <30% DTI, etc). We charge our borrowers 0.75%-3% origination fee.

As we are a volume business, we'd like to see tons of loan applications successfully submitted on our site. We will compensate for each loan submission (lead), independent of us approving or not the loan. The initial pay out will be $35 per loan application (for the first 10 applications per month), then $40 for additional applications beyond the first 10. We will consider increasing the payoff based on performance (conversions, volume, quality of users, etc). The payout for lender applications will be $50 per application (for the first 10 applications per month), then $60 for additional lender applications beyond the first 10.

Our users don't have a particular demographic: they can be in any age group, location or economic level. As long as they are good borrowers and need a loan at a better rate. It helps to highlight the fact they are dealing with other people directly in an easy, secure and anonymous way. Bypassing the banks means better rates for the borrower.

We are looking forward to your participation and to compensating you for your efforts in bringing in loan applications. We'd love to discuss ways we can increase your pay-offs based on performance, volume and quality of loans.

Best regards,

The Lending Club team

4 Responses to “Karlonia Approved for LendingClub.com Affiliate Program”

  1. comment number 1 by: i-trepreneur

    Hey! Congratulations on being accepted for LendingClub.com Affiliate Program! But how is it possible that you have great traffic ranks and a PR of 0?

  2. comment number 2 by: Karlonia


    I have found that PR doesn’t matter much, or at least not as much as many people seem to think it does. This site had PR 3 about one year ago, which was around the time that Google started cracking down heavily on paid posting and affiliate sites. Unfortunately, I had done a handful of paid posts through Smorty a few months prior to this, not realizing that Google could penalize my PageRank display for it. I also had a few affiliate links in my earliest posts without nofollow on them, another thing that Google will take away PageRank for.

    I quickly fixed all of this back in March 2008 when my PR disappeared - I don’t do paid posting anymore, and I always put nofollow (or use JavaScript) on all affiliate links. However, the PageRank display has never returned. Interestingly, my actual search engine rankings (and traffic) have significantly increased since the PR drop — there has been no penalty in this regard.

    If you know how to do SEO reasonably well, can target keywords, and have good content, the PageRank display doesn’t really matter as far as attracting traffic and making money is concerned. The only reason that it matters at all is because of people’s perceptions — having low PR makes it more difficult to sell a site for greater profits on certain forums, and lowers the revenues that can be gained from selling links.

    However, I do not intend to sell this site nor do I sell link placements, so none of this really matters to me. If anything the PR 0 actually helps because I receive far fewer spammy comments from people who target higher PR sites without realizing that it doesn’t make that much difference.

  3. comment number 3 by: i-trepreneur

    You’re right, there’s no proof PR influences search engine rankings, but it matters if you plan to heavily monetize your site or sell it, because many marketers still refer to it as an indicator of website’s popularity.

    Your blog seems to attract a lot of visitors (a little less than Steve Pavlina’s), however the reader involvement seems low (I mean there aren’t too many comments). Does it interfere with your monetization strategy somehow?

    Soon I will be launching a section on my website where I will conduct brief interviews of digital entrepreneurs, and would like you to be one of the interviewees. What do you say about that?

  4. comment number 4 by: Karlonia


    Yes, the interview idea is acceptable. If you have questions that I need to answer for this or have other material that you would like me to review, you can send this to me through the Contact page.

    The regular readership and comment frequency here are relatively low mainly because of the site’s overall format. Although this is technically a blog as far as the CMS (content management system) goes, it has gradually evolved into more of an article directory. If you look at the category listings and read through some of my older posts, you can see that the site covers a wide variety of topics besides just Internet marketing and SEO stuff. I have also begun to outsource some of the writing work so that I can concentrate on keyword research and building other sites. Additionally, I also accept article submissions through the Contact page from other authors and webmasters who want to promote their name, publicize their writing, and receive a backlink through their “bio box” just like a standard article directory.

    Because of the eclectic mix of topics covered here, it is difficult to attract or maintain any type of regular readership in the sense that a typical niche blog does. However, this has never been my primary focus. The original monetization strategy was developed along the lines of the bum marketing model in which I promote affiliate products (mostly Clickbank and Amazon at first, although now I have added Commission Junction and some CPA offers to the mix) through the publication of articles containing targeted keywords and relevant content which is designed to draw traffic from the search engines. The only major difference between my strategy and that of the typical bum marketer is that I am using my own site as the article directory (where I have control over the content and can place affiliate links wherever I want) instead of taking the more indirect route of submitting articles to other directories and then linking to a landing page where the products are promoted.

    More recently I have added the ubiquitous AdSense, which is actually starting to do pretty well for me as my overall traffic has increased and I have begun to build more ad units on pages that are not already monetized with any particularly high value affiliate products.

    None of this really seems to be affected by the lack of a large regular readership; any comments, regular readers, or RSS subscribers I happen to receive are strictly a bonus under this particular model. The people I am targeting are the ones who actually buy stuff and click on advertisements, which as a practical matter means that they are coming primarily from search engines and are usually not very knowledgeable about Internet marketing or other related niche topics. But this is OK as long as I get paid! In other words, the goal is for me to make a living here and have a steady income, not to win a bunch of popularity contests or build the biggest army of “fanboys.” Although if I happen to become more popular from other webmasters and general newbies learning from my content and following along in my successes, I certainly won’t complain.

    Now if you would like to submit an article… :)

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