Lending Club Blog

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!

Rob

Tuesday, August 25th, 2009 at 6:25 pm

Comments (5)

  1. [...] time yesterday, Lending Club passed the $50 million loan
    mark, showing yet again that they are a force to be reckoned with
    in the global P2P lending space. As of [...]

    August 26th, 2009 at 8:53 am

  2. Congratulations for this excellent milestone! Rob, you are doing a
    great job with LC, see you the next milestone: 25th thousand
    investor :-)

    August 26th, 2009 at 1:02 pm

  3. Limes:

    Keep up the good work, guys! We are big fans of Lending Club. So
    far, our investment is doing better than many other options out
    there. We’re loving it!

    August 28th, 2009 at 1:11 am

  4. That’s a gr8 milestone they have achieved. I congratulate them and
    the whole team behind this.

    August 31st, 2009 at 5:09 am

  5. O! That’s great news! I’m looking your way since about the starting
    and that was one of your aim if I remember right! Grats!

    August 31st, 2009 at 11:23 am

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