Earlier this month, premier Lending Club investors came together to share investing stories and strategies as well as to celebrate the unveiling of our new website.  Renaud Laplanche, founder and CEO, gave a short presentation outlining Lending Club’s past achievements and a brief walk-through of the new site.

Renaud and other Lending Club team members were on hand to field questions and listen to feedback from some of our most involved investors.   Events of this kind are an essential step in ensuring Lending Club is reaching the goals of our investors and providing the services our investors need.

Ten lucky investors also got a chance to test drive Tesla   Motor’s high performance Roadster, a fully electric sports car that can hit 60 mph in right around 3.9 seconds.

Check out more pictures here >>

See you at our next event!

Sam

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

We are delighted to present a new statistics section now available here with fascinating data on our financial community, investment performance and loan details.

Personally, I am excited to see data that confirms the high performance and responsible behavior of our community, in sharp contrast with the traditional banking sector:

• Our borrowers are very creditworthy, with a 724 average FICO® score
• Our investor community enjoys a solid 9.66% average net annualized return after fees and defaults
• 88.5% of our investors earn returns of 6% or more
• The best performing credit grades are E and D loans, with 10.88% and 9.93% net annualized returns respectively
• Lending Club has kept defaults to a low 3.16% annualized default rate since inception

Another number that I get particularly excited about is that Lending Club has paid more than $4.1mm in interest to our investors to date!  Notes are offered by prospectus.

Want to hear more stats?  Please join Patrick Gannon, Senior Vice President of Investor Services, and Sam Kasle, Director of Investor Marketing, for the unveiling of Lending Club's new Statistics section Thursday at 4:00pm PDT (7:00 PM PDT).

The webcast will cover topics such as returns by loan grade, returns by amount invested, and defaults by loan type.  After the presentation there will be ample time for an in depth Q&A.

Unveiling the New Statistics Section >>>
Register now for this webcast on
Thursday, October 22th, 2009
4:00 pm PDT (7:00 pm EDT)

Space is limited to 150 attendees, so reserve your spot now.

Enjoy!

Rob
@RobGarciaSJ

Yesterday morning our CEO, Renaud Laplanche, appeared on Fox Business News and discussed how Lending Club is leading the charge in a rapidly growing peer-to-peer lending space.

Check out Renaud on Fox Business News >>

We all know peer-to-peer lending is a fast growing alternative for those looking for a personal loan. Lending Club offers an easy, confidential and secure way of getting a loan without involving your bank.

On the investors side, Lending Club notes average 9.66% net annualized returns. Lending Club notes are offered by prospectus filed with the SEC.

My favorite part of the interview was when Renaud points out that Lending Club is not an option for those with weak credit histories, but instead, Lending Club is an alternative for creditworthy borrowers. That is, smart borrowers looking to get rates that are often lower than those offered by banks or credit card companies.

Enjoy the interview!

Rob

Follow me on Twitter

Please join John Donovan, Lending Club's Chief Operating Officer, and Jack Cohen, Lending Club's Senior Vice President of Legal and Collections for a free, online event.

(please note space is limited)

Free, Online Discussion
Thursday, October 8th, 2009
7:00 pm EST (4:00 pm PST)

During this 30 minute event, Jack and John will share insights on Lending Club's borrower application and loan listing process as well as how Lending Club handles late and defaulted loans. At the end of the presentation we will open up the floor to take your questions. Lending Club notes are offered by prospectus filed with the SEC.

See you there,

Sam