The last few weeks have been full of exciting milestones for Lending Club and our financial community. Not only did we roll out our new brand identity and web site, but we also surpassed $1,000,000,000 in loan demand, while hitting a monthly record in loan applications in February.

In addition, we issued our 10,000th loan, surpassing more than $95,000,000 in loans this morning.

Borrowers are increasingly turning to Lending Club as an alternative to traditional lending institutions. Better rates, a simple on-line loan application process, and a secure and confidential platform are some of the reasons that make Lending Club a smart choice for creditworthy borrowers looking for a personal loan that rewards their great credit.

Our borrowers are showing a responsible approach to credit:

• Average interest rate is 11.95%, which is lower than most personal loans and credit card offers
• 60% of the borrowers have taken the loan to pay off credit card balances or consolidate other debts
• The average credit score is 716, and only prime borrowers are able to enjoy better rates with Lending Club

We are building on the successes of 2009 and setting the stage for yet another important milestone coming up soon: sometime in the next 3-4 weeks we’ll reach $100,000,000 in loans issued.  Stay tuned.

For the latest Lending Club numbers visit our statistics page.

@RobGarciaSJ

After launching a brand new identity and web site design, we hosted a WebCast where we gave a tour of the new site as well as shared the thinking behind the new Lending Club.

Our new look better expresses our values (trustworthy, transparent, professional yet friendly and accessible) as well as Lending Club’s commitment to innovative financial services. Our concept is smart and simple, and our new site now reflects that.

If you missed it, here is the slides we went through:

If you have any questions or comments about the new site, please email us at feedback@lendingclub.com

SXSW Interactive has quickly become the conference where attendees and presenters explore the latest trends, technologies and products that are changing how we interact, communicate and transact. 

This year, Lending Club will sit with SmartyPig, Mint and CreditKarma to talk money and innovation in the banking industry.  Jennifer Openshaw, CEO of Family Financial Network will moderate a conversation that promises to be interesting and thought provoking. 

In the midst of a financial crisis, people are compelled to save, budget and lower their dependency on traditional financial services. Stock picking communities, person-to-person lending, personal finance management and even credit score management tools, have emerged to serve the changing needs of customers exclusively served by traditional banks and credit unions.

In this panel, we will discuss key trends, emerging technologies, and financial products that are changing the way people interact with the banking and financial services industries. 

Banking 2.0: Financial Services Driven by People & Emerging Technologies
Saturday March 13 at 12:30pm at the Hilton Hotel, downtown Austin, Room G
Moderated by Jennifer Openshaw, CEO of Family Financial Network
Attend >>

Panelists: 
Rob Garcia, Sr Director Product Strategy, LendingClub.com
Aaron Forth, VP of Product, Mint.com
Kenneth Lin, CEO, CreditKarma.com
Bob Weinschenk, CEO, SmartyPig.com

Can’t attend in person?  Don't miss out on this stellar line-up! 
Follow @SXSWfinance for live updates and questions to the panelists during the panel.

Late next week, we will be unveiling a new visual identity and website design, and I am excited to give you a sneak peek.

Our new look will better express our values (trustworthy, transparent, professional yet friendly and accessible) as well as Lending Club’s commitment to innovative financial services.  Our concept is smart and simple, and our new site will reflect that.  Our goal is to make it easier and more engaging for our members to get lower rates and earn better returns.  The new site works harder to help investors better understand our concept, and the most creditworthy borrowers feel more confident in getting a loan at better terms than they would get from a traditional bank.

Our new site offers existing members the same great functionality to track your loan or investments, and will make it easier to develop new features going forward.

We hope you enjoy our new face.  Check back in a week for full access to our redesigned website!

@robgarciasj

I did not expect to be reminiscing about 2009 this early in the new year.  But I now find myself looking back and marveling at how Lending Club went from half-operating in 2008, to getting through the registration process with the SEC in October of 2008, to then become a world leader in peer-to-peer lending in 2009 due to a hugely successful year.

In 2009, Lending Club originated nearly $52 million dollars in loans while we turned away almost half a billion dollars in demand.   In December 2009 alone, Lending Club issued $7.1 million dollars in loans, more than 3 times the rest of the US industry combined (Total US P2P loan origination volume was $9.32 million dollars in December 2009).

In 2009, we accomplished other major feats:

• We hit $500 Million in loan demand
• Our Average Net Annualized returns remained above 9%
• We Launched the first and only No-Fee IRA for P2P investors
• We revolutionized the p2p investing user experience with new investor tools

All this growth and success were created by and for you, our community of savvy investors and borrowers, who continue to earn better-than-average returns or save hundreds of dollars on your monthly loan payments.

So what does 2010 have in store for us?  I believe that in 2010 we will continue to accelerate growth.  We feel that peer lending has reached a level of maturity, operates at a level of transparency and has a track record that makes it ready for prime time.  We are not the only ones that believe this fact, Gartner predicts that “[b]y 2013, P2P lending will soar at least 66 per cent to $5 billion of outstanding loans.”  See full report

So hop on, sign up if you haven’t already, and let’s make 2010 another great year to remember in 2011.

@RobGarciaSJ