Is My Instant Offer A Scam Or A Legitimate Lending Club? Find Out Here!

My instant Offer is a peer to peer lending club where people can get online loans with low interest. It's not a scam and it's legit but I have some concerns.

My Instant Offer

my instant offer

Name: My Instant Offer


​Owner: Scott Sanborn

What Is My Instant Offer?

​My instant offer is a lending club where you can go to get a loan or be a lender and make interest off your money. 

You can get a loan for up to $40,000 and the interest is actually lower than most banks so that's a big reason to consider this as an option.

A lot of people are nervous about getting a loan online because you have to put in so much personal information about yourself.

Not only that but people are just used to getting loans at banks where you're face to face with a professional person who you trust.

​I can understand all of those fears but in reality, that's the direction the banking industry is going these days. 

Even some of the big banks are offering more and more online services including loans and mortgages.

As for My Instant Offer (Lending Club) it's legitimate and totally safe. Nothing about this is a scam so you can relax. It's a legitimate company offering a service. ​

How Does It Work?

To get a loan you'll first need to check your rate at It's easy and they say it won't affect your credit score. 

​Next you'll be given some loan offers and you'll have to choose the one that you like best. 

Then you'll need to fill out the application which will require you to give them your name, address, date of birth, your annual income, social security number and more. 

Don't worry, it's totally confidential. ​

Once you've finished the application form you'll be given a To-Do list and you'll have to complete everything on the list. 

The list consists of confirming your email address and sometimes they'll ask you to send them documents proving your income and net worth. 

The average time until the money is in your bank account is about 7 days but sometimes it's even faster. 

This is much quicker than a normal bank which is a huge draw for people in a rush for money.

On very rare occasions it can take longer but not often. ​

After that you should get your money. 

How Much Is The Interest?

​Your interest rate (APR) depends on several factors, such as your credit rating, the amount you want to borrow, and how much you already owe to other creditors.

They have a range of loan offers based on what you qualify for but rates can be as low as 5.99% which is really good. 

So if you're carrying a balance on a credit card you're probably paying about 20% interest so you'd be much better off getting a loan to pay that off and you'd save a lot of money.

In addition to the interest they charge an origination fee which is between 1%-6% of your loan depending on your credit score and the amount you borrowed. 

Another nice thing is that you can pay your loan off at any time with no penalty. ​

Can I Borrow Money For Anything?

You can​ pretty much borrow money for anything within reason. 

Obviously you can't tell them you're borrowing money to buy drugs and distribute it for a profit but you might be surprised by some of the reasons they lend to people.

Some of the things that people borrowed money from My Instant Offer that surprised me were going on a holiday, buying an engagement ring and renovating their house. 

So as long as it's within reason they're pretty cool about what you can use the money for. 

Will I Qualify?

There are lots of different ways they decide if you're a viable loan recipient but there are three major factors that are an absolute must.

  1. You​ must be a United States Citizen or a permanent resident
  2. You must be 18 years of age
  3. You must have a verifiable bank account

​Some other factors that will play into the decision are your credit score, the information on your application and the information provided about you by credit bureaus.

So if you've got poor credit, like a score below 600, you probably won't get approved.

But the good news is that if you have a high credit score and a great credit history you'll get a lower interest rate. ​


Can I Have More Than One Loan?

Yes you can actually have two loans if you qualify. ​

Usually they'll send you an invite for a second loan if you are in good standing with your first loan but if you haven't received an invite then you can apply for one. ​

Is Lending With My Instant Offer Risky?

 It's actually not risky to invest with the Lending Club as a lender. 

Traditionally the only way to make money from a loan was to organize it with someone you know who needs money.

Aside from that only the banks had the ability to lend money in a structure format like this so it's a great innovation.

It's pretty simple and you can earn anywhere from 4%-6% paid out monthly.

So if you've got some extra money kicking around this might be a good safe investment and you can get started for as little as $1000. ​

How Does Lending Work?

To ​become a lender with My Instant Offer you first need to open a free account which is quick and easy. 

Then you have to choose from a regular investment account or a retirement account. Both are good options but the regular investment account is the most popular by far and it's the simplest too.

Next you need to pick a strategy.

​You can automate investments based on a pre-selected strategy, or browse loans and purchase notes manually.

This is where you decide on your risk tolerance. If you're willing to take on more risk you can be rewarded by earning more interest but if you're not ready to take any risk you will get less interest. ​

Once you've picked a strategy it's time to fund the account. You just transfer your money over to your new Lending Club account and you're done. 

You can do as little as $1000. 

Final Thoughts

​So I actually really like this company. It's legitimate and reliable. It's got a great rating on the BBB so you can have faith in it. 

As a borrower the interest is pretty low which is great.

It might be hard to qualify if you don't have a good credit history but that's pretty understandable.

With that being said I have read about some people who got declined at their regular bank and then got approved at My Instant Offer.

As a money making opportunity I think it's pretty good too.

It's a safe way to let your money work for you. Sure there are plenty of smart ways to invest your money and you might want to talk to you financial adviser before you decide on this but it could be a viable option.

With that being said, you'd have to have a lot of money to make any decent returns.

If you don't have much money and you're looking for a way to make extra money from home I have a really good option for you right here. ​

Thanks very much for stopping by and if you have any questions or comments please use the box below and I'll be sure to respond ASAP.



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