Lending Club Blog

Lending Club Hits $500 Million in Loan Demand

I’m pleased to share the news that Lending Club has officially reached half a billion dollars in loan demand. This means that people have applied for over $500 million dollars in loans at LendingClub.com. Given our selective credit criteria, we’ve approved only a portion of those loans, a little over $50 million, and have issued over $45 million in loans to date to creditworthy individuals.

As always, our focus is on offering better rates for creditworthy borrowers and better returns for investors because Lending Club eliminates the high cost and complexity of traditional banks. Many thanks to our growing member base–our financial community is fulfilling its mission, and growing bigger and better every day.

Wednesday, July 22nd, 2009 at 1:13 pm

Comments (7)

  1. My congratulations to Lending Club management on thier success. I
    consider myself only average on the topic of finance, but even
    so… I find it something to write about in my self deprecating
    blog. Having attend the last LC webinar, I was struck first by the
    observation that LC would continue the myth that banks lend out
    money from deposits, and how in stark contrast Lending Club
    actually DOES (in a manner). The difference being that banks when
    loaning money contribute to inflation while Lending Club does not
    (contribute to inflation). Looking at it from that perspective…
    participating in LC isn’t just good for your own pocketbook (it
    is!) it’s good for the entire US economy!

    July 24th, 2009 at 1:50 pm

  2. lina:

    Great job guys, keep up the good work.

    July 25th, 2009 at 6:27 am

  3. Paula:

    Congratulations!

    July 27th, 2009 at 2:30 pm

  4. o.eniola:

    lending club you are the best, keep up the good work

    August 4th, 2009 at 5:16 am

  5. Congratulations.

    August 4th, 2009 at 7:31 am

  6. Great job guys, keep up the good work.

    August 21st, 2009 at 9:43 am

  7. Great job Lendingclub! Keep up the great work, you guys are doing
    an amazing thing.

    August 25th, 2009 at 7:50 am

Recommended

Types of Loans 101

Growing Your Business By Using Capital

9 Reasons to Open an IRA

6 Reasons to Get a Personal Loan

See more
Lending Club Awards
  • Archives z

Recent Posts

Patrick Dunne: A Message to Investors

I wanted to take a moment to introduce myself… Read More »
September 29, 2016

Line of Credit vs. Loan

Lines of credit (LOCs) and small business term loans… Read More »
September 28, 2016

Types of Loans 101

There are many types of loans out there and… Read More »
September 16, 2016

Meet Patrick Dunne — Lending Club’s Chief Capital Officer

Patrick Dunne, Chief Capital Officer,… Read More »
September 8, 2016

Growing Your Business By Using Capital

Smart small business owners don’t wait to consider borrowing… Read More »
August 19, 2016

9 Reasons to Open an IRA

Retirement: a word that often comes with many connotations.… Read More »
August 5, 2016

6 Reasons to Get a Personal Loan

While it would be great if we all had enough… Read More »
July 29, 2016

Lending Club and the Marketplace Model

Some of our investors have observed the funding environment… Read More »
July 28, 2016

A Recap: Credit Strength on the Lending Club Platform

We are proud of our… Read More »
July 14, 2016

A Message to Investors from our President and Acting CEO

Today, our President and acting… Read More »
May 19, 2016

2014

We went public today!

Ringing the bell this morning at the New York… Read More »
December 11, 2014

New and Improved Statistics Page

We recently redesigned our Loan Statistics page to make… Read More »
November 13, 2014

Lending Club Honored with Economist Innovation Award

This month I was honored… Read More »
October 15, 2014

Welcome Vermont Investors!

Today, we’re thrilled to welcome residents of the state… Read More »
September 4, 2014

We filed to go public today

We filed a registration statement with the SEC today… Read More »
August 27, 2014

Our Billion Dollar Quarter

We’re excited to announce  that we’ve facilitated over $5… Read More »
July 8, 2014

Is Lending Club Available in My State?

Is Lending Club available in my state? That is… Read More »
July 7, 2014

Lending Club Joins Senator Cory Booker to Discuss Improving Access to Capital for Small Businesses

Read More »
June 20, 2014

Lending Club Named a CNBC Top 50 Disruptor for a Second Year

For the second year in… Read More »
June 17, 2014

PRIME is now Automated Investing

Lending Club is excited to announce that PRIME has… Read More »
May 14, 2014
View All w