Lending Club Blog

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.

Not an investor yet?  Take advantage of our September blog promotion and get a $50 bonus.

Lending Club: Better Rates. Together.

@RobGarciaSJ
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Wednesday, September 15th, 2010 at 12:22 pm

Comments (4)

  1. budi:

    nice, this is a good news, may be an invaluable experience to learn
    from for bankers?

    September 17th, 2010 at 6:27 pm

  2. Sites like this are exactly what the USA needs right now. It is
    harder than ever to get loans from banks. Peer to peer lending is a
    remarkbly brilliant idea. Everybody wins even those trying to get
    business loans.

    September 19th, 2010 at 9:02 am

  3. […] having issued more than $170M in personal loans since its
    inception in 2007, and growing at a record-breaking pace. Last
    month, Lending Club announced that it had payed out more than $12M
    in interest to its […]

    October 25th, 2010 at 7:23 am

  4. […] having issued more than $170M in personal loans since its
    inception in 2007, and growing at a record-breaking pace. Last
    month, Lending Club announced that it had payed out more than $12M
    in interest to its […]

    October 27th, 2010 at 12:51 am

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