Pre Approval Personal Loan Pre Approval Personal Loan

MyInstantOffer is a simple, safe and legit, no-collateral means of taking out a large personal loan.

When it comes to securing loans for business expansion or other personal necessities, most people go to official banks. People rely on banks to secure loans for financing vacations, children’s education, and various other purposes.

However, bank loans pose a number of challenges.

  • Feasibility: When it comes to financial start-ups or business loans, banks only give out loans based on feasibility. Banks only give out loans if you are investing in stable businesses.
  • Collateral: The borrowers must clear monthly or regular payments. If they fail to do so, banks have the right to seize their assets as collateral. They can also cut down the borrower’s credit score, hindering them from future loan applications.
  • Variable Interests: The interest rates may change with the market. As such, borrowers may end up paying more than they had anticipated.

For all of the aforementioned reasons, borrowers have started relying on online loan lenders. MyInstantOffer is currently one of the most reputable peer-to-peer loan lenders on the market.

MyInstantOffer Lending Club connects investors to borrowers and arrives at a mutually-beneficial deal. In this article, I’ll give you a detailed overview of Pre Approval Personal Loans, and why they’re a viable alternative to bank loans.

MyInstantOffer Lending Club

Lending Club is the larger online lender on the market. They pioneered the peer-to-peer lending business model that now helps borrowers directly meet investors and get their loans approved.


This model relies on the borrowers meeting directly with the investors so they entail greater potential benefits for both parties.

While Lending Club is the overarching organization, is the online platform through which they operate. First founded in 2007, MyInstantOffer is based in San Francisco and operates completely online without any physical branches.

Now that you know about MyInstantOffer Lending Club and their relation to each other, read on for a detailed overview of Pre Approval Loan. Pre Approval Loan

What is Pre Approval Loan?

Once you visit, you have to fill in an application for a MyInstantOffer Pre Approval Loan.

MyInstantOffer finances loans ranging all the way from $1,000 to $40,000 for personal loans, and up to $300,000 for business loans. All loans are financed for a period of 36 months to 60 months.


Lending Club has some pretty impressive statistics. Their customers report that they have to incur a 24% lower rate of interest through MyInstantOffer Pre Approval loans compared to traditional bank loans.

Furthermore, Lending Club also has an impressive repertoire of borrowers. Their average borrowers meet the following criteria:

  • They have a minimum FICO credit score of 699.
  • The borrowers have a minimum annual income of $74,414.
  • They have an average credit history of 16.2 years.
  • And they have an income ratio of 17.9%.

Timeline of

The following is a brief timeline of MyInstantOffer’s history.

Date Activity
2007 Started off as a Facebook application.
August, 2007 Received Series A funding worth $10.26 million.
Becomes an official lending company.
8th April, 2008 Temporarily suspends new lender registration process and enters “quiet phase”.
20th June, 2008 Files an S-1 statement with SEC and seeks a $600 million registration in “Member Dependent Payment Notes”
1st August, 2008 Files an S-1 form amendment.
14th October, 2008 Announces completion of the SEC registration process.
Files prospectus on the MyInstantOffer website and resumes new lender registrations.
March, 2009 Receives Series B funding worth $12 million.

How does it Work?

The following steps will illustrate how the MyInstantOffer Pre Approval Loan process works:

  • has information on thousands of potential borrowers and lenders, both individual-level and large organizations. Their information includes credit history, financial history, income, requirements, reliability, etc.
  • Based on the borrower’s information, Lending Club determines their potential risk and assigns them a grade from A to G. The higher the grade, the lower the interest rates.
  • Once the borrower qualifies, they can start considering loan options by going through the available lenders.
  • Since this is a p2p platform, different lenders have different interest rates, payment options, and loan terms. Borrowers should compare different lenders and look for the most reliable and cheapest lenders that meet their requirements. Before settling on a lender, they should also carefully read their reviews, loan history, and consumers’ comments.
  • The processing time is determined by the lenders. If the borrower is short on time, they can approach quick service lenders online. This will ensure that the lender can give them the money they need within the stipulated time.
  • The fixed-rate loans have to be repaid within 3 to 5 years. However, longer terms incur higher rates of interest as well.

How to Take a Loan at Lending Club?

To apply for MyInstantOffer Pre Approval Loan, first, go to This will take you to a Lending Club page where you’ll have to answer nine questions. These questions include the following.

  • Amount: Enter the amount of loan you require (up to $40,000), along with the purpose of the loan.
  • Applicant: Are you applying individually or collectively with someone else? If you’re applying with someone else, you’re eligible for a higher loan amount, but the process will be a little slower.
  • Date of Birth: Enter your official date of birth.
  • Annual Income: This should include your verifiable annual income, including retirement pension, salary, or other sources of income. If you have other sources of income, you can include them as well.
  • Name: Your name according to official documents. This is used to retrieve your credit history.
  • Address: Your registered address helps them identify you.
  • Email Address: This is necessary to set up your Lending Club Login Account.
  • Social Security Number: You have to give your Social Security PIN number.

Once you provide these details, your eligibility will be assessed. If you are vetted and approved for a MyInstantOffer Pre Approval Loan, you will start receiving offers from investors.

You can go through them to try and find a loan that’s suitable for your needs. Once your loan is approved, you will receive the requested amount in your bank within four business days.

Why should I use Lending Club?

There are a number of reasons to use MyInstantOffer Lending Club. It offers the following benefits:

1. High Loan Amounts:

Banks are generally incredibly inflexible with the amounts they give out for loans. Furthermore, you have to justify exactly why you’re asking for a certain amount.

Lending Club, in comparison, allows you to select a loan amount ranging from $1,000 to $40,000. If you have been vetted and are cleared for your loan application, you don’t have to justify exactly how you intend to spend that money.

2. Fast Availability of Loans:

Banks can sometimes even take weeks to grant you the desired loan amount. However, MyInstantOffer Lending Club is a lot faster. Once you have been vetted and you’ve found an investor, the money is transferred to your account with four days.

3. Security:

When going through traditional banks, there is no anonymity of identity. You have to reveal all your personal information and details. However, with MyInstantOffer, the borrower’s personal details and identity are kept concealed from the investors at all times.

4. Transparency:

Lending Club is completely transparent about their company’s information and services. They also offer both investors and borrowers all necessary information about their past loan and investment activities.

Furthermore, they also facilitate transparency between investors and borrowers by making them aware of each other’s terms and conditions.

5. Low Fee:

The transaction fees charged by Lending Club is minimal and often negligible. This is because Lending Club is headquartered in San Francisco and operated completely online, so they have minimal setup costs.

MyInstantOffer Investment

MyInstantOffer gives investors the ability to either invest in complete loans or in “notes”, i.e., fractions of the complete loan. Notes can be bought at $25 increments and is a safe means of investing with minimal risks.

Furthermore, lenders can either engage in Manual or Automated Investments. Under Manual Investments, investors personally vet all loan requests to decide on the correct borrower. Under Automated Investments, investors set criteria for investments and MyInstantOffer automatically selects notes for their investment.

Investor Eligibility

  • All investors must meet the following criteria for investments:
  • Minimum Annual Income of $70,000 OR Minimum Net Worth of $250,000.
  • Maximum investment of 10% of net worth.
  • Minimum $25 investment is necessary for a single note.


I hope this article has explained to you what MyInstantOffer Lending Club really is and how you can finance your MyInstantOffer Pre Approval Loans.