Posted by Lending Club :: June 14, 2007 @ 8:19 am

We introduced the fantastic report – Social Personal Finance – back on this blog post. As many of you have found out, this report is quite in depth. We see a lot of you visiting the site, and for those that have read it cover to cover, we know this may be old news.

Starting from just a few hundred thousand today, we expect two million U.S. households will be using social personal finance sites by the end of next year.

The above is a forecast or prediction by Jim Bruene. We agree that the main catalyst behind this forecast is social networking. Nine years ago no individual could have forecasted the growth of social networking.

We are riding the tidal wave branded as Facebook Platform. It is bigger than anyone expected it to be. Lending Club was the first collaborative financial service to launch on a social network on May 24. We are taking this opportunity to help promote financial responsibility among our members.

Our constant reference back to our favorite study is done to help pass on information that is not always common knowledge. We are getting tremendous feedback and good will from the Facebook community, as well as increasing support and engagement. We will be releasing later this morning our latest numbers, two and a half week after the launch. They are quite surprising.