I don’t see anything in that response from LC saying the borrower gets free interest. All I see is that the borrower gets the loan a few days longer than the 3 year-ammortization of the loan. I haven’t asked the question but it would seem to me the smart thing for LC to do would be to just charge interest from the date the borrower gets the funds and then the first payment has a bit more interest added than it normally would. I think a followup question might be in order.
FYI, I made a comment about this in the lendingclub board at prospers.org. I had asked a question similar to yours and got a similar response. I never followed up regarding how much interest was actually paid. You might want to ask frugalcouple since I know they got their funds early.