Back by popular demand! Join us tomorrow for a free 30-minute online Webinar that will show you to How to Put Your Cash to Work with Lending Club.
For new investors and those just considering Lending Club, we’ll give you an overview of how Lending Club eliminates the high cost and complexity of traditional banks and offers investors the opportunity for returns that average over 9% annually (see report). Notes offered by prospectus filed with the SEC.
(space is limited)
Wednesday, June 23, 2009
12:30pm PT/3:30pm ET
We’d like to invite you to join us for a free 30-minute online Webinar that will show you to How to Put Your Cash to Work with Lending Club. We’ll provide an overview of how Lending Club eliminates the high cost and complexity of traditional banks and offers investors the opportunity for returns that average over 9% annually (see report). Notes offered by prospectus filed with the SEC.
Space is Limited so register now
Thursday, June 11, 2009
Noon PT/3:00pm ET
With 18 days to go until we reach the end of our 5% Cash Bonus program, we want to update everyone on our progress:
• Our growth has been fantastic! We have reached $6MM in issued loans, and have over $3MM of loans in funding today, so our loan volume is growing extremely well
• Our lender base is growing as well – the number of lenders has doubled in the last month alone
• Our next system release (due in the next few days) also offers a great new set of lender tools that makes lending and account management even easier and incorporates feedback from many in our lending community
With all of the growth in loans and loan requests, we want to reach out as widely as possible to current and now prospective lenders with our special offer: Lending Club will give a 5% cash bonus to all lenders who lend $5,000 or more between December 14, 2007 and February 3, 2008. This bonus can be used to lend or can be withdrawn to your linked checking account. There are no special sign-ups needed to participate in this program.
Click here to read the program details.
Better Lending. Together
We are focused on making our person-to-person lending site as simple and reliable as possible. As Barron's wrote this weekend, Lending Club and other P2P lending sites strive to be "highly automated, remarkably transparent, and employ Web 2.0-era ways of matching borrowers to lenders." To that end, we are releasing a series of improved and clarified pages starting with our statistics and lender ranking pages.
The intent of these pages was to provide a measure of current performance, similar to what you get on an online trading Website like Etrade or Schwab. Feedback from several of our lenders indicate that the ROI section was in some cases interpreted as a projection of future performance. With the amount of data we have gathered other the last 6 months, we cannot offer projections of future performance in a meaningful and reliable way. Faced with the risk that some current and potential lenders would use the ROI section as projections, we took that entire section down and will keep it that way until we have sufficient data to make reliable projections of future ROI. We have put up a new statistics page and lender rankings page to clarify the statistics and make our help page more helpful. This is an intermediary step that fixes a couple of statistical issues and clarifies the help file content.
We will release another version of the statistics page in the next few weeks that shows more details, including late loans as percentage of loans issued for more than 45 days and a breakdown of late loans by age. Thank you to all for your continued input and suggestions. We look forward to hearing from you on these improvements.
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