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Lending Club Investors Set a New Record in August 2010: $12M inloans

Last month proved to be another exciting month at Lending Club:  continued consumer demand for loans at lower rates and increased investor appetite for Lending Club Notes delivered a record $12,021,775 in issued loans to creditworthy borrowers.  This is the largest single monthly dollar amount ever.  Here are some other key stats for the month:

  • Avg Loan Amount: $10,231
  • Number of loans issued: 1,175
  • Average interest rate: 12.58%
  • Most popular loan purpose: 50% of the loans were used for debt consolidation
  • Net Annualized Returns to Investors: 9.66%

Looking at our growth for the last year, we are very proud to have nearly tripled the volume as compared to August 2009, while showing a steady monthly growth pace.   Cheers to the Lending Club community of investors and borrowers for making this happen.

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Lending Club: Better Rates. Together.

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