We are thrilled to announce that  Lending Club has been chosen as one of the 2010 AlwaysOn Global 250 Top Private Companies. Other winners include LinkedIn, Facebook, Twitter, SolarCity, FourSquare and Yelp.  No other financial innovation company was included in the prestigious list.

AlwaysOn, the leading business media brand networking the Global Silicon Valley, selected the 250 winners from among thousands of domestic and international technology companies nominated by investors, bankers, journalists, and industry insiders.   Lending Club and the rest of the winners represent the top emerging companies in the Global Silicon Valley that are demonstrating significant market traction, disrupting existing industries and pursuing game-changing technologies in on-demand computing, consumer internet, digital media, and greentech.  Companies were evaluated using five measures: innovation, market potential, commercialization, stakeholder value and media buzz.

At Lending Club, we pride ourselves in offering an award winning approach to investing and borrowing.  In our short 3 years, we have garnered  an impressive collection of awards and recognitions that confirm our absolute leadership in the peer lending space and commitment to innovation in the banking industry.  Lending Club won the Webby Award in 2008 for the "Best Banking Website" and has been nominated for "Top 100 Innovators" by The Industry Standard.  It was also recently recognized as one of the 20 "Breakthrough Ideas for 2009" by Harvard Business Review.

The winners of this competition will be officially announced at The AlwaysOn and STVP Summit at Stanford 2010 today at Stanford University in Palo Alto, CA.  We'll be there celebrating, so stop by and say hi.

@RobGarciaSJ

It was during the first week of June in 2007, when the Lending Club team was huddled around a screen watching our first loan originate.   Thanks to an amazing team, participative users, and rapid adoption of the peer lending concept in the US, we have come a long way since our days as a the top Facebook financial app.

But let's have the numbers talk for themselves:

• Currently issuing more than $10 million in loans per month to prime borrowers
• Lending Club has captured 80% of the U.S. peer lending market based on monthly volume
• Rates start at 7.93% APR, which is 53% lower than the overall national credit card APR of 14.9%
• Investors have received solid returns of 9.64% net annualized returns since inception
• Over $1.5 billion in loan requests
• Nearly $136 million in more than 14,000 loans
• $9.6 million paid in interest to investors

I remember hearing skeptical comments early on around the level of quality of borrowers and a short track record of positive returns while in the midst of economic uncertainty.  Three years later, we have proven there is great demand for peer loans from credit-worthy borrowers, while showing solid returns to our investors.

In a short 3 years, Lending Club has transformed peer lending from a feel-good web-based money lending application to a proven concept that creates great value for both borrowers and investors.

Read the complete press release here.

@RobGarciaSJ

Image courtesy of Arena Flowers.

Back in March, Lending Club launched its first ever Lending Club Photo Contest to celebrate our new site and brand.  We invited all professional and amateur photographers to submit up to 4 photographs for a chance to win the $1,000 first place prize and many other prizes.  The response was fantastic with more than 250 pictures submitted, and over 300 votes during final face of the contest on Facebook.

Today, we present you the winners and honorary mentions:

1st Place / $1,000 prize:
The Promise by J. Griffin Stewart (103 votes)

2nd Place / $500 prize:
Mountainside Beauty by Greg Hahner (61 votes)

3rd Place / $300 prize:
Hidden Beach by Michelle C (55 votes)

Honorary Mention #1 ($100 prize):
Green and White by Larry McCloskey

Honorary Mention #2 ($100 prize):
Clean Whitewashing by Peter Anderson

Honorary Mention #3 ($100 prize):
Cloud Bells by Andy Cook

Congratulations to all winners.  See all 15 finalists on our Facebook fan page.

@RobGarciaSJ

It's Fourth of July weekend once more:  time to celebrate the independence of this grand nation we live in.

Independence Day is a holiday to look forward to.  After all, it is arguably the most fun of them all: fireworks, picnics with friends, parades, barbecues, carnivals and fairs,  concerts, baseball (and world cup soccer) games, special sales (cars, mattresses and more), and many other events celebrating the history and government of the United States.

While we celebrate such an important holiday, I can't help think about the millions of Americans who cannot claim their financial independence: 27 percent of workers have less than $1,000 in savings (excluding the value of homes and pensions if any) according to the latest stats from the Employee Benefit Research Institute (download full report in PDF format).  Another 27 percent have under $25,000.  In addition, most Americans (76%) have some debt, with 87% of them saying they carry debt other than a home mortgage, according to a recent survey by Lending Club.

Clearly, the best way to declare your financial independence this weekend is to take decisive steps to pay off your current debt and start a rainy-day emergency fund.

Pay off Debt

To pay off your debt, start by negotiating rates with your credit card issuer while setting up a budget for getting rid of debt balances, starting with the most costly first.  You can also obtain a peer-to-peer personal loan with Lending Club at better rates.

Start an Emergency Fund

To build your emergency fund, start by setting aside a monthly amount that you can commit to stash away consistently: plan to build up a cash cushion capable of covering three to six months of living expenses.

So what are you waiting for? Get started today! Declare your financial independence.

Want to learn more? Read on with this  collection of articles on the subject by top personal finance bloggers:

Get Rich Slowly: How and Why to Start an Emergency Fund

Wise Bread: Figuring the Size of Your Emergency Fund

One Money Design: Emergency Fund Versus Getting Out of Debt

Hundred Goals: Debt or Savings?

20 Something Finance: Emergency Savings Fund: Why, How Much, and Where?

Zen Habits: 21 Strategies for Creating an Emergency Fund and Why It's Critical

Financial Highway: Factors to Consider When Setting Up an Emergency Fund

Consumerism Commentary: What Comes First? Paying Off Debt or Starting Emergency Fund?

Free Money Finance: The Ten Worst Money Mistakes Anyone Can Make

Generation X Finance: The Importance of Creating a Savings Account

@RobGarciaSJ

Image courtesy of Beverly & Pack.