Lending Club Blog

Lending Club Partners with Top University Alumni Associations to Promote Affinity-Based Lending

People-to-People Lending Service Now Available to Alumni of Georgia Tech, Kansas State and University of Michigan

SUNNYVALE, CA – October 31, 2007 – Since the early 1900s, homecoming has marked the return of millions of alumni looking to reconnect and give back to their alma maters across the country. Lending Club, the rapidly growing people-to-people (P2P) lending service, today announced the availability of its affinity-based lending service through the websites of top university alumni associations to offer a new way to lend and borrow money among fellow alumni. Lending Club is the first in the P2P lending industry to provide co-branded lending applications to online communities, including the alumni associations at Georgia Tech, Kansas State and University of Michigan.

“Whether it’s helping fellow alumni pay off student loans or launch new enterprises, we offer a rewarding new way for alumni to invest directly in each other,” said Renaud Laplanche, founder and CEO of Lending Club. “Lending Club’s unique, affinity-based service enables people to bypass the banks to get better rates by borrowing and lending directly within communities they trust.”

Lending Club launched at the end of May exclusively as a Facebook application. Since then, the Lending Club community has rapidly grown beyond Facebook to more than 22,000 users who have loaned and borrowed more than $2 million within the community. By partnering with alumni associations across the country, Lending Club further expands its affinity-based lending service across top alumni communities. Lending Club will enable these alumni associations to connect with social networks like Facebook, combining alumni benefits offered by the associations while leveraging the social interaction and viral nature of Facebook and other online communities.

“Our mission is to cultivate loyalty, tradition and lifelong relationships. Lending Club helps leverage these relationships and build new ones by giving our members the opportunity to invest in fellow Wolverines,” said Jerry Sigler, senior vice president and chief financial officer of the University of Michigan Alumni Association.

To help people identify lending and borrowing opportunities, Lending Club uses its proprietary affinity-matching technology, LendingMatch™, that looks at factors such as where a person went to school, where they grew up or what they do for a living. LendingMatch™ instantly recommends diversified portfolios based on these affinities and ensures the creditworthiness of each borrower.

Lending Club is available to individual borrowers with credit scores at or above 640. Using Lending Club, borrowers can apply for personal loans of $500 to $25,000 to be funded by one or many individual lenders. To date lenders have funded 90 percent of all approved loan requests. Lending Club handles user authentication, bank account verification, credit checking, credit reporting, funds transfers and collections.

Wednesday, October 31st, 2007 at 2:45 pm

Comments (0)


5 Ways to Get Your Finances Ready for the Holidays

How to Build a Budget: Part 1

The State of Debt: 2016

Types of Loans 101

See more
Lending Club Awards
  • Archives z

Recent Posts

5 Ways to Get Your Finances Ready for the Holidays

Read More »
December 1, 2016

How to Build a Budget: Part 1

Living on a budget. It can sound scary, right?… Read More »
November 21, 2016

Five Signs Your Business Needs Capital

Knowing when your business needs working capital— and promptly… Read More »
November 10, 2016

How does a car refinance loan work?

Whether your goal is to lower your monthly car… Read More »
November 2, 2016

Are you paying too much for your auto loan?

How refinancing your auto loan with a better rate… Read More »
October 25, 2016

The State of Debt: 2016

Politics can be a divisive topic, where issues and… Read More »
October 24, 2016

Lending Club Teams Up with United MileagePlus® to Offer Customers More

  When it comes to… Read More »
October 21, 2016

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


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