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