We are thrilled to announce that residents from the great state of Kansas can now apply for personal loans through LendingClub.com and borrow at lower rates.
Kansas is home to nearly 3 million people, an economy that boasts over $122 billion in GDP, and phenomenally successful name-brand companies like Sprint Nextel, Cessna Aircraft Company and Collective Brands, which is the parent company of Payless ShoeSource.
Kansas is named after the river that flows through it, which in turn was originally named after the Kansa tribe, the original inhabitants of the area. The name is often said to mean "people of the wind" or "people of the south wind," which is quite appropriate since Dodge City is the windiest city in the United States (even though Chicago enjoys the famous “windy city” moniker).
Some interesting personalities from Kansas are: Amelia Earhart (aviation pioneer), NASA astronaut Ronald Evans, former President Dwight D. Eisenhower, former Vice President Charles Curtis, and former presidential candidates Bob Dole and Alf Landon.
Great movies set in Kansas include the Steve Martin comedy, Leap of Faith (1992), Paper Moon (1973) starring Ryan and Tatum O'Neal, and the all-time classic, The Wizard of Oz (1939). This was, of course, the film that coined the phrase, “there’s no place like home.”
If you call Kansas home and you’ve never heard of Lending Club, let us tell you about how our service works:
- Lending Club offers unsecured personal loans of up to $25,000.
- You can use a Lending Club personal loan to do things like refinance or pay off debt, make major purchases, cover medical expenses or invest in a small business.
- Annual percentage rates (APRs) start at 6.78% [i] which is nearly half the average starting APR of 13.15% [ii] offered on credit cards to similar borrowers.
So whether you are a Jayhawk, a Wildcat or a Shocker, we may have a great rate on personal loans for you.
As of October 19, 2010, your neighbors to the East, West and South have all been busy on Lending Club, with more than $7.5 million in personal loans issued to residents of Kansas' neighboring States through LendingClub.com:
- Missouri: over $2.7 million in personal loans.
- Colorado: over $3.7 million in personal loans.
- Oklahoma: over $1.1 million in personal loans.
Close to $170 million in personal loans has been issued through LendingClub.com nationwide and investors had received a Net Annualized Return of 9.67% as of October 19, 2010.
Want to learn more? Check out how Lending Club works and how we can offer better rates on personal loans.
We believe our service is able to play a vital role in Kansas by providing much needed capital to credit-worthy borrowers who want to pay down their credit card debt, purchase new fun toys like motorcycles, cars and boats, pay medical bills or expand their small business.
Welcome Kansas!
[i] 36 month loan of $1,000 to the highest rated borrower (Grade A1), $20 origination fee, 5.42% interest rate, $980 net proceeds, 36 payments of $30.16 at a 6.78% APR. Actual APR depends upon credit score, loan amount, loan term, and credit usage & history. APRs for 36 month loans range from 6.78%-24.95%. All loans made by WebBank, a Utah-chartered Industrial Bank.
[ii] Source for average starting credit card APR for consumers with "Good to Excellent Credit" calculated using headline rates on Credit Cards offered to borrowers with "Good to Excellent Credit" at www.creditcards.com as of 9/30/10.
We are thrilled to announce that Lending Club has been chosen as one of the 
It was during the first week of June in 2007, when the Lending Club team was huddled around a screen watching our first loan originate. Thanks to an amazing team, participative users, and rapid adoption of the peer lending concept in the US, we have come a long way since our days as a the top Facebook financial app.
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