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.