LendFu Review

This post is an extension to my other recent post on a peer to peer lending company called LoanVia. If you have not read that post, you may want to check it out here. Recently, an email was received from LoanVia that informed its members that the name of the company was no longer LoanVia, instead the name of the company was changed to LendFu. There was no explanation of the name change, the only thing mentioned about it was that it was time for a name more focused on lending.

The email stated that along with the new name will come new features. Some of the features mentioned included better data that a lender can use to decide who to lend to. With the new ID score action, a lender will be able to minimize their risk. Also, borrowers are now able to pay back their loans with cash if they want. Borrowers can go to their local Wells Fargo bank and make a deposit into LendFu's bank account. Once this is done, the borrower will log in to their LendFu account and record their deposit. This is great for those who do not want to keep checking their bank account to make sure that their repayment was withdrawn.

After logging in to LendFu, besides the new ID score action and cash payment option, the website did not seem to have many other differences. Since I did not mention it in the LoanVia original post, I wanted to mention that borrowers will always benefit from linking their social networks. By connecting with friends, family and other associates, a borrower will have a much better chance of getting the loan that they need.

With all that said, LendFu, formally LoanVia, still receives the same grade that we gave them in our original post on the company. It is a company that has a concept that we are fully behind and hope it does become a leading peer to peer lending site.

Grade - B