LendingClub.com Leads Industry with Better Rates for Borrowers

SUNNYVALE, CA – December 13, 2007 – Caught in the wake of the credit crisis, people in every community across America are looking for alternatives to traditional banks and credit institutions to help meet their financial needs. Lending Club, the rapidly growing affinity-based social lending network that launched its people-to-people lending services six months ago to facilitate personal loans based on affinities or an individual's social connections, today announced its availability to lenders and borrowers in all 50 states. For the first time, everyone nationwide can use Lending Club's P2P lending services and enjoy better interest rates than those offered by traditional banks or credit cards.

"We believe an affinity-based model enables people to get better rates by leveraging their existing associations and social connections. All early indicators suggest that this approach is succeeding: We have the lowest rates available to borrowers and the best average returns for lenders in the industry, which is made possible by lower defaults" said Renaud Laplanche, founder and CEO of Lending Club. "Today, we're extending this model across all 50 states, so people can connect online, build trust and gain financial benefit on both sides of the lending and borrowing equation."

Over the course of the last six months, LendingClub.com lenders have earned an average 12.2 percent annualized return after fees and losses, and defaults on the loans have remained under one percent, which is attributed to the sense of community and trust inherent in the existing connections between members, such as their online social networks, alumni associations, organizations, geography and credit profiles.

LendingClub.com members have loaned and borrowed more than $3.5 million within the network, growing 100 percent monthly since it launched six months ago. In response to this rapidly increasing demand, Lending Club is expanding today to all 50 states and is now available at www.lendingclub.com, on social networking site Facebook and through partnerships with top university alumni associations.

To help people identify lending and borrowing opportunities, Lending Club uses its proprietary affinity-matching technology, LendingMatch™, which looks at factors such as where people went to school, where they grew up, what they do for a living and their network associations. LendingMatch is the fastest way to build diversified portfolios based on these affinities and ensure the creditworthiness of each borrower.

LendingClub.com is open to individual borrowers with credit scores at or above 640 and a debt-to-income ratio of 30 percent or less. Using LendingClub.com, borrowers can apply for personal loans of $500 to $25,000 to be funded by one or many individual lenders. Lending Club handles user authentication, bank account verification, credit checking, credit reporting, funds transfers and collections.

About Lending Club™

LendingClub.com is an online social lending network where people can borrow and lend money among themselves based upon their affinities and/or social connections. Across all 50 states, members can borrow money at a better interest rate than they would get from a bank or credit card and invest in a diversified portfolio of loans with higher rates of return than those served by savings accounts, CDs or other online lending services. LendingMatch™ technology helps match lenders and borrowers by using connections established through social networks, associations and online communities, and build diversified portfolios based on lender preferences. Lending Club is headquartered in Sunnyvale, CA. More information is available at www.lendingclub.com.

Press Contact:
Paula Cavagnaro
Antenna Group
415-977-1915
paula@antennagroup.com

People-to-People Lending Service Now Available to Alumni of Georgia Tech, Kansas State and University of Michigan

SUNNYVALE, CA – October 31, 2007 - Since the early 1900s, homecoming has marked the return of millions of alumni looking to reconnect and give back to their alma maters across the country. Lending Club, the rapidly growing people-to-people (P2P) lending service, today announced the availability of its affinity-based lending service through the websites of top university alumni associations to offer a new way to lend and borrow money among fellow alumni. Lending Club is the first in the P2P lending industry to provide co-branded lending applications to online communities, including the alumni associations at Georgia Tech, Kansas State and University of Michigan.

"Whether it's helping fellow alumni pay off student loans or launch new enterprises, we offer a rewarding new way for alumni to invest directly in each other," said Renaud Laplanche, founder and CEO of Lending Club. "Lending Club's unique, affinity-based service enables people to bypass the banks to get better rates by borrowing and lending directly within communities they trust."

Lending Club launched at the end of May exclusively as a Facebook application. Since then, the Lending Club community has rapidly grown beyond Facebook to more than 22,000 users who have loaned and borrowed more than $2 million within the community. By partnering with alumni associations across the country, Lending Club further expands its affinity-based lending service across top alumni communities. Lending Club will enable these alumni associations to connect with social networks like Facebook, combining alumni benefits offered by the associations while leveraging the social interaction and viral nature of Facebook and other online communities.

"Our mission is to cultivate loyalty, tradition and lifelong relationships. Lending Club helps leverage these relationships and build new ones by giving our members the opportunity to invest in fellow Wolverines," said Jerry Sigler, senior vice president and chief financial officer of the University of Michigan Alumni Association.

To help people identify lending and borrowing opportunities, Lending Club uses its proprietary affinity-matching technology, LendingMatch™, that looks at factors such as where a person went to school, where they grew up or what they do for a living. LendingMatch™ instantly recommends diversified portfolios based on these affinities and ensures the creditworthiness of each borrower.

Lending Club is available to individual borrowers with credit scores at or above 640. Using Lending Club, borrowers can apply for personal loans of $500 to $25,000 to be funded by one or many individual lenders. To date lenders have funded 90 percent of all approved loan requests. Lending Club handles user authentication, bank account verification, credit checking, credit reporting, funds transfers and collections.

About Lending Club™

LendingClub.com is an online social lending network where people can borrow and lend money among themselves based upon their affinities and/or social connections. Across all 50 states, members can borrow money at a better interest rate than they would get from a bank or credit card and invest in a diversified portfolio of loans with higher rates of return than those served by savings accounts, CDs or other online lending services. LendingMatch™ technology helps match lenders and borrowers by using connections established through social networks, associations and online communities, and build diversified portfolios based on lender preferences. Lending Club is headquartered in Sunnyvale, CA. More information is available at www.lendingclub.com.

Press Contact:
Paula Cavagnaro
Antenna Group
415-977-1915
paula@antennagroup.com

People-to-People Lending Service expands beyond Facebook, Invites Lenders and Borrowers to Come Together and Bypass Banks

SUNNYVALE, CA – September 13, 2007 - Americans are currently facing a credit crisis, and an increasing number are taking advantage of emerging alternatives such as people-to-people lending. Lending Club, the rapidly growing people-to-people (P2P) lending service that launched as a Facebook application in May 2007, today announced the public availability of its services with the launch of LendingClub.com. Lending Club connects lenders and borrowers based upon shared affinities, enabling them to bypass banks to secure better interest rates on loans.

Lending Club is the first in the P2P lending space to help people identify lending and borrowing opportunities using a proprietary affinity-matching technology that looks at factors such as where a person grew up, went to school or what they do for a living, and ensures that they are creditworthy (based on their credit score and other characteristics). The new site, LendingClub.com, introduces tools for building diversified loan portfolios composed of pieces of 20 to 30 individual loans and hosts a forum for financial experts to share their knowledge with the Lending Club community.

"During this credit crunch, people-to-people lending provides a valuable alternative, and keeps money flowing when people need it the most," said Renaud Laplanche, founder and CEO of Lending Club. "We promote responsible lending and borrowing with fixed-rate installment loans which allow borrowers to pay off 100% of their loan within 36 months. By cutting the banks out, both lenders and borrowers get a better deal and help each other."

Lending Club launched at the end of May exclusively as a Facebook application. Since then, the Lending Club community on Facebook has grown to more than 15,000 users who have loaned and borrowed more than $1 million among themselves. With the launch of LendingClub.com, the company brings its affinity-based lending services to the broader public, helping to connect borrowers and lenders the same way it did within Facebook.

Lending Club's proprietary technology, LendingMatch™, helps lenders quickly identify the best loan opportunities based upon personal affinities such as geography, work place, education and associations. LendingClub.com's LendingMatch sorts among affinity criteria that includes 47,000 US cities; 1,000 companies; 500 government agencies; 6,300 colleges and universities; 1,600 national associations and other organizations; as well as thousands of Facebook groups and networks. The LendingMatch technology allows people to quickly discover previously unknown connections, enabling them to borrow and lend money among trusted sources and rapidly build diversified portfolios.

The new site also includes "Better Rates Together," a blog community that features expert advice on P2P lending and personal finance.

Lending Club is available to individual borrowers with credit scores at or above 640. Using Lending Club, borrowers can apply for personal loans of $500 to $25,000 to be funded by one or many individual lenders. To date lenders have funded 90 percent of all approved loan requests. Lending Club handles user authentication, bank account verification, credit checking, credit reporting, funds transfers and collections.

Lending Club recently secured $10.26M in Series A financing led by Canaan Partners and Norwest Venture Partners.

About Lending Club™

LendingClub.com is an online social lending network where people can borrow and lend money among themselves based upon their affinities and/or social connections. Across all 50 states, members can borrow money at a better interest rate than they would get from a bank or credit card and invest in a diversified portfolio of loans with higher rates of return than those served by savings accounts, CDs or other online lending services. LendingMatch™ technology helps match lenders and borrowers by using connections established through social networks, associations and online communities, and build diversified portfolios based on lender preferences. Lending Club is headquartered in Sunnyvale, CA. More information is available at www.lendingclub.com.

Press Contact:
Paula Cavagnaro
Antenna Group
415-977-1915
paula@antennagroup.com

SUNNYVALE, CA – August 23, 2007 - Lending Club, the rapidly growing person-to-person lending service where people borrow and lend money among each other, bypass the banks, and get better rates, today announced that it received $10.26 million in Series A funding led by Canaan Partners and Norwest Venture Partners. Lending Club will use the funds to expand its person-to-person lending community beyond its initial Facebook® application.

"Lending Club has enjoyed significant early success with the Facebook launch in May, and we see great opportunity for the company to leverage its affinity focus," said Jeff Crowe, general partner at Norwest Venture Partners, who will be joining Lending Club’s board. "Consumers borrow hundreds of billions of dollars every year at high interest rates, and the person-to-person lending market has tremendous potential. With its focus on quality-lending relationships, Lending Club is well positioned to be a leader in this space."

Since its May 24, 2007, launch on Facebook, the Lending Club community has reached more than 13,000 Facebook users and $750,000 in loans have been transacted among those users.

"The multi-billion dollar consumer lending market is just beginning to leverage the power of social networks," said Dan Ciporin, a venture partner at Canaan, who will also be joining Lending Club’s board. "Credit card companies have had enormous success over the years using affinity relationships as a platform for lending growth. Lending Club is taking this model to the next level while making it more consumer-friendly: the company uses connections among people to help them lend and borrow money among each other at better rates. With its success on Facebook already demonstrating the power of affinity relationships in consumer lending, we are excited to help Lending Club expand this market disrupting model and increase its business success."

Lending Club is available to individual borrowers with credit scores at or above 640. Using Lending Club, borrowers can apply for personal loans of $500 to $25,000 to be funded by individual lenders. To date lenders have funded 80 percent of all loan requests. Lending Club handles user authentication, bank account verification, credit checking, credit reporting, funds transfers and collections.

Lending Club's proprietary technology, LendingMatch, helps lenders quickly identify the best loans based on pre-set criteria such as credit worthiness, being friends on Facebook, sharing network affiliations, belonging to the same groups or by geographical location. LendingMatch instantly presents lenders with a diversified loan portfolio (composed of ten to thirty borrowers) reflecting these relationships as well as the lenders' individual risk preferences.

"Lending Club has demonstrated on Facebook that person-to-person lending can efficiently leverage connections among people. We are now ready to expand beyond Facebook to leverage other types of professional and social connections," said Renaud Laplanche, CEO and founder of Lending Club. "Canaan Partners and Norwest Venture Partners bring a wealth of collective expertise in financial services and digital media that will help the company take P2P lending mainstream."

About Lending Club™

LendingClub.com is an online social lending network where people can borrow and lend money among themselves based upon their affinities and/or social connections. Across all 50 states, members can borrow money at a better interest rate than they would get from a bank or credit card and invest in a diversified portfolio of loans with higher rates of return than those served by savings accounts, CDs or other online lending services. LendingMatch™ technology helps match lenders and borrowers by using connections established through social networks, associations and online communities, and build diversified portfolios based on lender preferences. Lending Club is headquartered in Sunnyvale, CA. More information is available at www.lendingclub.com.

Press Contact:
Paula Cavagnaro
Antenna Group
415-977-1915
paula@antennagroup.com

Lending Club Video Awards attract over 100,000 viewers on YouTube in contest to find the best user-generated video ads for its new person-to-person lending service. Winners include Chris Barrett, professional filmmaker, and Share Ross, former bassist for platinum-selling recording artists, Vixen.

SUNNYVALE, CA – August 17, 2007 - Lending Club, the rapidly growing person-to-person lending service, today announced the winners of its Lending Club Video Awards contest. The contest took place simultaneously on Facebook and YouTube from July 18 through August 10, 2007. Users were invited to create and submit Lending Club video ads for a cash prize. The submissions were viewed more than 100,000 times in just five weeks, and due to the overwhelming popularity, Lending Club has decided to raise the cash prize to $8,000 (from $5,000) to be shared among four winners.

"Lending Club represents a new way for people to lend and borrow money among each other, so we decided that the best way to promote our P2P lending service was to challenge our users to create videos to explain our benefits," said Renaud Laplanche, CEO and founder of Lending Club.

"However, nothing could have prepared us for the incredible popularity of our video contest and the quality of our top submissions. So, our team got together and agreed to increase our prize amount to reward four directors instead of just one."

The winners of the Lending Club Video Awards are:

Best Video Award ($3,000 Cash Prize): Chris Barrett (17,825 views). Chris Barrett is a professional filmmaker and co-founder of Powerhouse Pictures Entertainment, LLC along with actor Efren Ramirez. He can also be seen in the award winning documentaries "The Corporation" and "Maxed Out". His professionally filmed short takes a humorous look at one of the many real life situations in which regular people can benefit from using Lending Club.

YouTube® Viewers Award ($3,000 Cash Prize): Steve Dinelli (19,011 views). Eighteen-year-old Steve Dinelli's stop-motion video demonstrates Steve's extraordinarily promising talent, while giving examples of what Lending Club loans can be used for. Steve's video was acclaimed by YouTube's viewers and has surpassed the 20,000-view mark.

Storyboard Award ($1,500 Cash Prize): Jonathan Reed (6,480 views). Jonathan Reed entered the contest in its last week with an astonishing video that showcases Lending Club's social lending features and Facebook® presence in a well animated and engaging storyboard. Congratulations, Jonathan!

Jury Prize ($500 Cash Prize): Share Ross (1,018 views). Share Ross is the former bassist for the platinum-selling EMI recording artists Vixen and guitarist and singer for Bubble. Share calls P2P lending a "wonderful form of anarchy". Her video gives a personal perspective on the advantages of borrowing on Lending Club.

About Lending Club™

LendingClub.com is an online social lending network where people can borrow and lend money among themselves based upon their affinities and/or social connections. Across all 50 states, members can borrow money at a better interest rate than they would get from a bank or credit card and invest in a diversified portfolio of loans with higher rates of return than those served by savings accounts, CDs or other online lending services. LendingMatch™ technology helps match lenders and borrowers by using connections established through social networks, associations and online communities, and build diversified portfolios based on lender preferences. Lending Club is headquartered in Sunnyvale, CA. More information is available at www.lendingclub.com.

Press Contact:
Paula Cavagnaro
Antenna Group
415-977-1915
paula@antennagroup.com