Lending Club Passes the $50 Million Mark of Issued Loans
We’re thrilled to share the news that, as of this morning, Lending Club has officially issued more than $50 million in personal loans to creditworthy individuals.
As always, our focus is on offering better rates, rewarding responsible and creditworthy borrowers. This has translated in better returns for investors because Lending Club eliminates the high cost and complexity of traditional banks: 9.64% net annualized returns since inception. Notes offered by prospectus.
Reaching this milestone could not have happened without our fantastic investor and borrower community. We thought we’d take this opportunity to share a few other interesting numbers with you. As of this morning, Lending Club has:
- 22,226 investor members,
- processed 46,800 payments from borrowers,
- distributed 2,627,146 payments to investors, and
- paid $3,470,391 in interest to investors.
Oh! And by the way, we will be welcoming our 25,000th investor sometime during the month of September. We are working on a promotion to celebrate this momentous milestone. Stay tuned!
Tuesday, August 25th, 2009 at 6:25 pm