Lending Club Blog

A Note on Our Recent Loan Volume

You may have noticed that the number of Notes listed on our Web site has recently been lower than usual.  This is not due to any slowdown in Lending Club’s growth — April will be our largest month yet, with roughly $140 million in loans issued, a 10% increase over March and more than triple our volume in March of last year.  More loans than ever are hitting the platform.

The decrease in visible loans is due to recent record inflow of investors and capital over the past two months (we signed up 2-3 times more new investors last month than average).  This capital is causing loans to be fully committed very quickly after listing — usually within 24 hours.

We understand and apologize that the limited selection at any one time makes it harder to invest.

Actions we are taking to increase the number of Notes visible on the Platform include:

- We are, where possible, prudently reducing our investor acquisition efforts

- We are spreading larger investments out over time

- We are working on an automated investment tool that will enable you to specify your parameters and have trades executed on your behalf without the need to visit the website.  (We hope to have this ready by late summer.)

In the meanwhile, it may be helpful to know that new loans are listed on the website at 6AM, 10AM, 2PM, and 6PM Pacific Time.  Visiting the website at these times will allow you to see the broadest possible selection.

Thank you for your patience and support of Lending Club.

 

 

 

Saturday, April 20th, 2013 at 12:20 am

Comments (11)

  1. Plasticman:

    DARN IT! I always counted on the GREEN BAR Lenders to ALLOW ME
    almost an EXCLUSIVE LOOK at the Newly Minted Loans! THE SECRET”S
    OUT! HERE”S the GOOD NEWS! Lendingclub.com BORROWER MEMBERS will be
    setting GUINESS-BOOK RECORDS in the SPEED of P2P LOAN FUNDINGS!
    Remember the 60% funding RULE is still in place. Other P2P WEBSITES
    are OUT of LUCK! PRIME P2P Borrowers WILL LEAVE in DROVES and FLOCK
    to Lendingclub.com to get almost INSTANT FUNDING!! Q.E.D.
    Plasticman

    April 20th, 2013 at 11:08 am

  2. Tyrel Haveman:

    In addition to the actions you listed to try to increase the number
    of notes visible, I would hope that you are also increasing
    marketing efforts to potential borrowers, as this would obviously
    lead to more notes being available as well.

    April 21st, 2013 at 2:54 am

  3. Justin:

    Lending club is now more focused on institutional investors which
    you do not mention in this post. It is not impossible to limit the
    risk with my own parameters and get loans that return well. My
    return has dropped steadily over the years. Like some many other
    investment options the little guys lose. I will be closing my
    account. I hope that the investor population watches closely and
    sees the default rate in their portfolios will be higher than
    historically due to the investor demand. The community has
    effectively been “dumbed” down to a place I will not longer invest.
    Too bad that Lendingclub forgot who got them here.

    April 21st, 2013 at 3:49 pm

  4. Wait how much your loan-volume will rise within the next month, the
    summer season :-)

    April 23rd, 2013 at 9:42 am

  5. Yeyen:

    Next month will the loan-volume increase?

    April 29th, 2013 at 5:56 am

  6. Francois Th:

    “- We are, where possible, prudently reducing our investor
    acquisition efforts” If that’s the case, why did you increase the
    referral bonus to $300 vs $100 ????

    April 30th, 2013 at 2:52 am

  7. What’s the projection for next month?

    April 30th, 2013 at 9:01 am

  8. Yay automation!

    May 1st, 2013 at 12:21 am

  9. Keeping us informed like this is a breath of fresh air as opposed
    to the normal just stuffing it off you see all over the internet
    now a days.

    May 1st, 2013 at 4:04 pm

  10. Kevin:

    I agree with Justin, and it’s a pity—I’m not closing out, but not
    putting new money in either. Lately I see that zero Lending Club
    loans are approved before they are closed out, and therefore I tie
    up my cash for four to five weeks waiting to see if a loan is
    issued–then when it’s not, I have to start over. It seems this way
    that Lending Club is able to have and use my money for a month or
    two, whereas before I made approval a parameter, knowing that when
    the loan finished funding, it would be issued (or, rarely, not
    issued) very quickly. This just plain sucks.

    May 1st, 2013 at 7:19 pm

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