Lending Club Blog

Love of Motorcycles + Lending Club = TokyoMoto

Nansee Kim-Parker has loved motorcycles for as long as she can remember. When she and her motorcycle-mechanic husband started thinking about opening their own motorcycle repair shop in San Francisco, they determined that they’d need about $50,000 in capital to get their business off of the ground. Nansee dipped into her savings and borrowed money from friends and family, but still needed $20,000 to start her dream business.

She circulated her business plan to banks and potential investors, but she found that “in these times, banks aren’t lending, and it’s really hard to get funding especially if you are going to be a start-up.” Fortunately, Nansee found Lending Club and less than two weeks later she had a fully funded $20,000 3-year loan at 9.85%, providing her with the money she needed to launch TokyoMoto, which specializes in independent motorcycle repair for Japanese motorcycles and scooters.

Watch her story here:

Monday, July 18th, 2011 at 10:47 am

Comments (2)

  1. James:

    Fantastic, I wonder if there are any of these so well-established
    in the UK? The banks certainly aren’t lending at this time, and
    it’s holding back new business and expansion of existing businesses
    something fierce.

    January 25th, 2012 at 2:36 pm

  2. This is the kind of thing that I think will really shoot peer to
    peer lending up in popularity over the years. People that are tired
    of having banks and credit card companies in charge of everyone’s
    finances! The power to take this sort of thing into your own hands
    is very uplifting.

    January 26th, 2012 at 1:33 am

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