Posted by Renaud Laplanche :: June 9, 2009 @ 7:00 amDear Lending Club Members,
As more of you are saying “no” to credit cards and are choosing the path of responsible credit, and as more investors look for higher returns after last year’s devastating stock market performance, our financial community is showing better results than ever.
This week we are releasing new data showing strong growth among both Lending Club investors and loan originations:
- From January 1st to May 31st 2009:
- 60% growth in total loans issued by Lending Club, from $25M to $40M
- 70% growth in total Lending Club membership from 82,000 to 140,000
- 72% growth in loan applications, from $212M to $365M
- The average net annualized return earned by Lending Club investors since June 2007 grew from 9.05% as of December 18, 2008 (as reported by analyst firm Javelin Research at that time) to 9.90% as of today.
These excellent results demonstrate the responsible behavior of our community of investors and borrowers and show that in the long run, sound underwriting and cautious investment beat the most aggressive strategies.
Better Rates, Together.
Renaud
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9 Comments
Congrats to the Lending Club team for the growth and success. I
certainly hope this is just the beginning. Most people out there
still do not understand or even know about p2p lending. Lending
Club has done a fantastic job so far in making this concept
possible, where others had failed.
Yeah!!! As a new investor ( two months) my excitement is still
extremely strong for LendingClub. This is where I want to be, it
where I want MY money, and if need be, its where I want to borrow.
Until one gets involved, its hard to assess just how different this
is from Stocks as an investment tool. These days in the stock
market, there are winners and losers at near every turn; money is
not made, its taken. At Lendingclub, if there were one million more
investors I still would not be in a position to "compete" with
them, to need to out smart them, out track, out analyze... Others
lenders doing well does not diminish my ability to do well also, in
fact its just the opposite.
Thanks for this great opporutnity provided to us by this website. I
hope you guys maintain this standard of sound underwriting and keep
our investments less risky. I dont like to see LC turning out as
another 'Prosper'. Also the return on investment calculation is
really cool and it helps to keep me motivated.
So far I am averaging 10.68%. Easy money! Thanks Lending Club!
I have done a lot resaerch on investing, and I am glad I found this
one. I see it being around for a long time. A good solid investment
that is a win, win situation if you do it smartly. Be using the
system put before you. No more bosses, or worries if done right.
definately good for the average person. An retirement if that is
your dream, a good one with you at the wheel,and no one else. I
just wish it had been out ten years ago. But better late than
never. Better than bonds,CD's, stock, notes, and mutal funds,
atleast I think. Basically your own bank, with better returns.
Great news, Renaud. This new data clearly proves the vitality of
both the Lending Club concept and the integrity of your growing
community. Kudos!
[...] 2009, and loan growth has averaged nearly 7% month-over-month
during that period. According to a blog post in June by CEO Renaud
Laplanche, as of May 31, Lending Club had 140,000 registered [...]
I'm very happy with my Lending Club experience and love the P2P
lending model in general. P2P lending is a twenty-first centuy
reemergence of the old savings & loan idea: we invest in one
another. The S&Ls worked well until Wall Street and greedy
managers sought to undo restrictions that kept them acting in the
best interest of their members; after that, they collapsed.
Hopefully, P2P will do better. We need ethical lending as an
alternative to commercial credit slavery.
Lendingclub should start offering unsecured credit to those with no
credit history(not bad or negetive credit) Some people with no
credit history(or a zero credit score) are credit worthy. Like
people with currently good or positve credit, some people with no
credit have a steady income and an excellent payment history of
paying thier rent and utility bills on time ,which are basically
not credit builders. To prove my point, on the link below, watch
and listen how NorthSide credit union rescued this young lady from
the payday loan trap before her credit became bad or negetive.
http://hffo.cuna.org/13519/video/1856/html
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