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April 27, 2009 12:00:00 AM PDT
As the Obama administration, Federal Reserve, and banks themselves grapple with the credit freeze, some consumers are turning to sites like for relief or profit in these troubled times. -----------------------------------------------------------------------------------------------

For those needing money, the on-line process is simple, but there are requirements such as providing a one-year credit history with no current delinquencies, and not filing for bankruptcy in at least seven years.

If you meet those requirements, and others, the step-by-step process will guide you through the application.

You may be able to borrow between $1,000 and $25,000 dollars that you are scheduled to pay back in three years.

If you are the investor, touts an average annual return of just over nine-percent and the site allows you to spread your investment to several qualified borrowers.

The rates are set and you are given the option of reinvesting the interest and principal each month or withdrawing them like an annuity.

If you are worried about safety, the Lending Club's web site claims on average only one in six applications for loans are accepted. With no physical facilities, staff or ATM's to support, charges an origination or processing fee per transaction to support itself.

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