Posted by Lending Club :: November 3, 2010 @ 3:00 am

We are thrilled to announce that residents of North Carolina can now apply for personal loans through LendingClub.com and borrow at lower rates.

North Carolina is home to more than 9 million Americans, the 9^th largest economy in the US with $395.1 billion in GDP in 2009, and a unique humid subtropical climate.

Arguably one of the most technologically advanced States in the country, North Carolina hosts Research Triangle Park (RTP), UNC Chapel Hill, and North Carolina State University, 3 well known research and development hubs for Green Technology, Bio-Chemical Engineering, Medical Sciences, and Computer Engineering.

The Tar Heel State’s history includes the first successful powered flight by man when the Wright Brothers were able to lift their airplane 20 feet above a wind-swept beach in North Carolina for 12 seconds and a distance of 852 feet.

Food also peppers North Carolina’s history: Krispy Kreme Doughnut was founded in Winston-Salem, Pepsi was invented and first served in New Bern, and barbecue sauce tastes the best here.  Lexington is the Barbecue capital of the world, serving more than 11,000 pounds of barbecue goodness to more than 100,000 people during its annual festival.

Now I’m hungry…

If you’re a North Carolinian and you’ve never heard of Lending Club, let us tell you about how our service works:

• Lending Club offers unsecured personal loans of up to $25,000.
• You can use a Lending Club personal loan to do things like refinance or pay off debt, make major purchases, cover medical expenses or invest in a small business.
• Annual percentage rates (APRs) start at 6.78% [i] which is nearly half the average starting APR of 13.15% [ii] offered on credit cards to similar borrowers.

So whether you are a Panther, a Hurricane or a Tarheel, we may have a great rate on a personal loan for you.

As of October 27, 2010, your southern and northern neighbors have all been busy on Lending Club, with more than $14 million in personal loans issued to residents of North Carolina' neighboring States through LendingClub.com:

• In Virginia, over $6.3 million in personal loans have been issued through Lending Club.
• In South Carolina, over $1.8 million in personal loans have been issued through Lending Club.
• In Georgia, over $5.9 million in personal loans have been issued through Lending Club.

Over $172 million in personal loans have been issued to borrowers through the Lending Club platform for needs ranging from debt consolidation to special events. Thousands of Lending Club borrowers across the country have taken advantage of Lending Club's fixed-rate loans to pay down credit card debt, fund home improvements and green loans, plan their dream vacations and weddings, buy cars and boats, or re-invest in their businesses.

Want to learn more?  Check out how Lending Club works and how we can offer better rates on personal loans.

We believe our service is able to play a vital role in North Carolina by providing much needed capital to credit-worthy borrowers who want to pay down their credit card debt, purchase new fun toys like motorcycles, cars and boats, pay medical bills or expand their small business.

By opening our doors in Kansas last week, and in North Carolina this week, Lending Club loans are now available in 42 States.

Welcome North Carolinians!

@RobGarciaSJ

[i] 36 month loan of $1,000 to the highest rated borrower for (Grade A1), $20 origination fee, 5.47% interest rate, $980 net proceeds, 36 payments of $30.16, a 6.78% APR. APRs for 36 month loans range from 6.78%-24.95%.All loans made by WebBank, a Utah-chartered Industrial Bank. Your actual rate depends upon credit score, loan amount, loan term, and credit usage and history.

[ii] Source for average starting credit card APR for consumers with "Good to Excellent Credit" calculated using headline rates on Credit Cards offered to borrowers with "Good to Excellent Credit" at www.creditcards.com as of 9/30/10.