Lending Club and HomeAdvisor signed a multi-year marketing deal, that will make Lending Club the exclusive partner providing access to loans for consumers seeking home improvement project financing through the HomeAdvisor website. HomeAdvisor is an online home improvement marketplace where homeowners can connect with pre-screened local home repair and improvement professionals.
“In recent years there have been remarkably few options available for consumers to finance their home improvement or renovation project as the process for obtaining home equity lines of credit has become increasingly strenuous,” said Lending Club Founder and CEO Renaud Laplanche. “We’re proud to partner with HomeAdvisor to make it easier and more cost efficient for consumers to improve their homes and lives.”
Lending Club’s marketplace will be integrated into the HomeAdvisor site so that HomeAdvisor customers can get preapproved for project financing through the Lending Club platform, with fixed monthly payments and no prepayment penalties, at interest rates starting at 3.99% (4.99% APR).