Lending Club Blog

2009: The Year Lending Club Became the World Leader in Peer-to-Peer Lending

I did not expect to be reminiscing about 2009 this early in the new year.  But I now find myself looking back and marveling at how Lending Club went from half-operating in 2008, to getting through the registration process with the SEC in October of 2008, to then become a world leader in peer-to-peer lending in 2009 due to a hugely successful year.

In 2009, Lending Club originated nearly $52 million dollars in loans while we turned away almost half a billion dollars in demand.   In December 2009 alone, Lending Club issued $7.1 million dollars in loans, more than 3 times the rest of the US industry combined (Total US P2P loan origination volume was $9.32 million dollars in December 2009).

In 2009, we accomplished other major feats:

All this growth and success were created by and for you, our community of savvy investors and borrowers, who continue to earn better-than-average returns or save hundreds of dollars on your monthly loan payments.

So what does 2010 have in store for us?  I believe that in 2010 we will continue to accelerate growth.  We feel that peer lending has reached a level of maturity, operates at a level of transparency and has a track record that makes it ready for prime time.  We are not the only ones that believe this fact, Gartner predicts that “[b]y 2013, P2P lending will soar at least 66 per cent to $5 billion of outstanding loans.”  See full report

So hop on, sign up if you haven’t already, and let’s make 2010 another great year to remember in 2011.

@RobGarciaSJ
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Wednesday, January 27th, 2010 at 5:00 am

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