Lending Club offers $5k for best p2p lending video

Lending Club, the Facebook p2p lending company, is launching a new contest to find the best video explanation of what p2p lending is. If you have a Facebook account, you can check out the contest details on the Lending Club app. I think they have a great idea going by having their customers handle the marketing. And video works best for this type of contest. I look forward to viewing the entries.

If not, here are some of the details:

Now here's what we're thinking: person-to-person is a strange idea at first. When you think about it, it makes a lot of sense: users cuts the banks out and they all get better rates. So in order to help explain the benefits of p2p lending, we are hosting a contest starting July 17 until August 10 for the best video about lending Club and person-to-person lending. The best video wins $5,000.

The winner will be the video that has the most views on YouTube by August 10, 2007. The video must explain how Lending Club can help you refinance your debt at better rates, buy something you (really) need or just make money by lending to other users. Your video must be posted in this group's wall and in YouTube and contain the YouTube tags "Lending club" and "person-to-person lending". See full contest rules in the "Rules" section below.

p2p lending is ultra-hot right now. Check out my 3-part series on social lending which look at the industry as a whole plus reviews of Zopa and Prosper.