Yesterday, over 100 Lending Club investors and friends did indeed get smarter about P2P investing. Patrick Gannon, SVP Investor Services, and me, Sam Kasle, shared Lending Club’s award-winning approach to peer investing. Notes offered by prospectus registered with the SEC.
Feel like you’re already smart about investing, but want to Get Smarter? Check out the replay of the presentation portion of the forum here.
What’s not included in the replay are the additional 30+ minutes of open forum Q&A. Feel like you missed something? But have no fear, simply sign up for our next Investor Forum on Sept 3rd and you too can Get Smarter and join in the conversion:
Looking for to seeing you online on September 3rd!
I'm pleased to share the news that Lending Club has officially reached half a billion dollars in loan demand. This means that people have applied for over $500 million dollars in loans at LendingClub.com. Given our selective credit criteria, we've approved only a portion of those loans, a little over $50 million, and have issued over $45 million in loans to date to creditworthy individuals.
As always, our focus is on offering better rates for creditworthy borrowers and better returns for investors because Lending Club eliminates the high cost and complexity of traditional banks. Many thanks to our growing member base--our financial community is fulfilling its mission, and growing bigger and better every day.
As a 04852 native, I am pleased to announce that our securities filing has been cleared by the great state of Maine. So, whichever of the 16 counties of our state (whether it's Cumberland or Franklin) you call home, now you can put your cash to work with Lending Club. Just when you thought you'd have to wait until "So You Think You Know Maine" makes its broadcast return, our offering was cleared for Maine investors. In any event, to me it’s simply wicked cool. And as usual, Notes are offered by prospectus registered with the SEC.
Another company in our space, Prosper.com, recently completed its SEC registration. As you know, we were the first in the category to do this back in 2008. We made that decision proactively because we understood the importance of transparency and compliance. We would now like to congratulate our friends at Prosper.com on completing their own registration. We are pleased that others are taking the same steps as Lending Club, and believe full transparency and disclosure benefit both consumers and the industry overall.