Posted by Lending Club :: April 1, 2010 @ 1:20 pm
Yesterday, Lending Club broke the $100mm mark in issued loans with a record high $8,664,750 in consumer loans issued in March alone. This number represents over 79% of the $10,926,846 in peer-to-peer loans issued in the US in March.
Creditworthy borrowers are increasingly turning to Lending Club for better rates, as an alternative to traditional lending institutions.
Investors looking for a better return have continued to stash their cash in Lending Club Notes and earn over 9.5% net annualized returns (from June 2007 to March 2010).
To celebrate this milestone, we did some research to show you how big $100mm is.
Leave us a comment! If you had $100mm, what would you do with it?
The Lending Club team
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10 Comments
I would buy 100,000,000 McDoubles
Give to Others, Innovate, Invest & Expand, Enjoy .... in that
order.
Reinvest in American Express Personal Savings, ING Direct and more
Lending Club notes.
Put $2M in a high yield savings account and live off the interest.
Use the rest to better the human race, maybe some research
donations, health care, earthquake relief, etc. Maybe I'd start an
educational company that would give each person some money and
teach them how to invest it...
If I had $100 million... I'd invest in education, technology, and
entrepreneurial resources for the poorest.
I would pay off any debt I have including my mortgage. I would put
money aside for my children's education, college is coming quickly.
With a $100mm opportunities are pretty much endless. However the
first thing I would do is expand my current business by hiring more
tech and marketing people to launch new products I did not have the
resources and manpower to develop till now. With a solid and
successful business I can then invest again in other areas out of
my comfort zone to give more people the opportunity to get a career
doing what they love and good at. Some philanthropy in terms of
loans to help other people bring their ideas to fruition and become
employers as well. I for one believe it's best to give someone an
opportunity to make a living them just handing out some money
unless there is a natural disaster or health issue preventing the
recipient to work.
[...] to their blog, the Lending Club has issued a little over $100
million in loans since it’s inception and currently controls about
75% of the peer lending industry. [...]
If you have more than enough money, spend it wisely on charity and
provide philanthropy to those lesser off
Wow that's a lot of loans!
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