Posted by Renaud Laplanche :: June 14, 2007 @ 4:15 pmWhile it is certainly too early to read much into the numbers, we are now a few weeks into the Facebook launch and it is certainly looking like things are now functioning pretty well!
We announced that our first loan had closed this past Thursday, with a happy Facebook user receiving a $3,000 loan at a 9.33%. In the following 5 business days, we closed another 12 loans with an aggregate value of $39,650. The average interest rate on these loans was 9.70%.
About 6,700 Facebook users have installed the Lending Club application. If you are on Facebook, chances are you’re already seeing us popping up here and there. We have approved and verified 223 lenders and processed more than 200 loan applications over the last few weeks.
Please continue to send us comments, feedback and ideas in the Facebook forums or directly at feedback@lendingclub.com. We have tons of ideas here at Lending Club to make our site more usable and more enjoyable. Overall we want to make sure our focus is working on the right features for our community members.
Thank you all for your support!
Renaud from Lending Club
4 Comments
Can you accommodate a $14 million consolidation loan? Seriously.
Andrew - our lending limit is currently $25,000 per loan, but I am curious what you had in mind. What kind of debt are you trying to consolidate?
[...] which just launched with the Facebook Platform, (see coverage here) recently announced that it had closed 13 loans for a total of $39,650 and processed 200 loan applications in about a [...]
[...] which just launched with the Facebook Platform, (see coverage here) recently announced that it had closed 13 loans for a total of $39,650 and processed 200 loan applications in about a [...]
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