Lending Club
Lending Club Surpasses $500 Million in Loan Originations, Prosper Tops $300 Million
The peer-to-peer lending industry in the United States is continuing its upward trajectory with Prosper and Lending Club now having facilitated a total of $800 million in loan volume. Lending Club surpassed $500 million in loan originations this week and Prosper topped $300 million in loan volume earlier this week. Both companies had a strong [...]
Prosper and Lending Club Facilitated $40 Million in Loans in December
Prosper and Lending Club facilitated a total of $40.5 million in loans between borrowers and investors during the month of December, marking the strongest month in U.S. peer-to-peer lending history. Lending Club lead the way, issuing $31,007,025 across 2,267 loans. This is the first month where Lending Club issued more than $1 million in loans [...]
Lending Club Waives Fees on Large Loans
Lending Club announced that it would be waiving its 1% service fee on notes associated with loans of $20,000 or more for a limited time. Lending Club explained the move on its website, “Larger loans need to attract investments more quickly than small loans in order to fund in the time available. So for a [...]
How to Develop a Solid P2P Lending Investment Strategy
As my peer-to-peer lending investment portfolio continues to outperform my stock portfolio, I’m increasingly convinced that putting some money into peer-to-peer lending is a good idea for just about every investor that meets Prosper and Lending Club’s suitability guidelines. I’m currently getting a 13% net annualized return (NAR) on my Lending Club notes, far better [...]
Evaluating the Success of my Lending Club Strategies
When I started the Great Lending Club Experiment earlier this year, I laid out several strategies that I have since implemented in the form of portfolios on Lending Club. So far, it’s been pretty difficult to measure the success of the various strategies that I’ve been using because Lending Club doesn’t provide any great tools [...]
P2P Lending Wealth System Video Series Now Available
Peter Renton, founder of Social Lending Network, has launched a new video training series for peer-to-peer lending investors called the P2P Lending Wealth System. The $97.00 video series consists of eight video modules. There are three videos that introduce the concepts of peer-to-peer lending, discuss what risks are involved and what you need to know [...]
My Peer-to-Peer Lending Investments: December 2011 Update
November was a great month for my peer-to-peer lending portfolio. My Lending Club balance is now about $95,000 after an additional $10,000 investment that I’ve added last month. All of my money is now fully invested using the strategies that I’ve outlined in the blog post, the Great Lending Club Experiment. I now have a total [...]
Lending Club Named to Forbes’ America’s Most Promising Companies List
Lending Club was named to Forbe’s annual America’s Most Promising Companies List. Lending Club ranked number 20 on the list, based on a number of factors include revenue, business model, executive team, partnerships and addressable market size. Lending Club was one of 32 California companies to make the list, including Evernote, Box.net Popchips and Splunk. [...]
Prosper and Lending Club Issued $37.4 Million in Loans in November
Prosper.com and Lending Club, the two largest peer-to-peer lending companies in the United States, facilitated 3,506 loans during the month of November, with a total loan volume of $37.4 million. Lending Club issued a total of $28,332,600 in loans in November, an increase of about 3% above its October volume of $27,482,550. Lending Club issued [...]
My Lending Club Performance – November 2011 Update
October was a fantastic month for my peer-to-peer lending investments. I put an additional $10,000 into my Lending Club account, bringing my account balance into the mid $80,000’s. I was almost able to get my new investment fully funded by the end of October, using five strategies in what I’m calling the Great Lending Club Experiment. [...]
Lending Club Hits $400 Million in Loan Originations
Lending Club issued a press release today stating that it’s surpassed $400 million in loan originations. Here’s the press release SAN FRANCISCO – Nov. 3, 2011 – Lending Club (http://www.lendingclub.com), the leading platform for investing in and obtaining personal loans, today announced that a record $400 million in total loan originations have been issued through [...]
Lending Club Appoints New Executive to LC Advisors
Lending Club has hired Jeff McCarthy, a former SVP with Jeffries & Co, as its new director of Lending Club advisors. This hire comes less than a month after Lending Club appointed Brad Pattelli as LC Advisors President. Here’s the release: SAN FRANCISCO – Oct. 19, 2011 – Lending Club (http://www.lendingclub.com), the leading platform for investing [...]
Lending Club Offering 1-3% Cash Bonus on Large Deposits
Lending Club is offering yet another deposit bonus investors that make large new deposits. Investors that add between $25,000 and $50,000 to their accounts by the end of the month will receive a 1% cash bonus. Investors that invest between $50,000 and $100,000 will receive a 2% cash bonus and investors that add more than [...]
My Lending Club Investments – October 2011 Update
September was a significant month for my peer-to-peer lending investments. I invested $60,000 into my Lending Club account during the month of August and was able to get almost all of it invested by the end of September, using five strategies in what I’m calling the Great Lending Club Experiment. I now have a total [...]
Lending Club Names New Head of LC Advisors
Lending Club has appointed Brad Pattelli as the new president of LC Advisors. Here’s the press release: SAN FRANCISCO – Sept. 29, 2011 – Lending Club (http://www.lendingclub.com), the leading platform for investing in and obtaining personal loans, has appointed credit fund manager Brad Pattelli as President of LC Advisors (LCA), a wholly-owned subsidiary of Lending Club, to [...]
Kevin Rose Loves Lending Club
Kevin Rose, founder of Digg.com and Milk Inc., has taken a liking to Lending Club’s peer-to-peer lending service. Rose shared on Google Plus that he became interested in peer-to-peer lending after Fred Wilson’s Union Square Ventures invested $25 million into Lending Club in August. He has since sold off a significant number of his stock [...]
New Method to Find Loans on Lending Club Secondary Market
When Lending Club and Prosper first launched their services, there was no way to liquidate one’s peer-to-peer lending investment. After launching, both companies partnered with FolioFN to create secondary markets that allow investors to buy and sell notes to one another. Unfortunately the software that FolioFN has doesn’t do that great of a job of [...]
Lending Club Produces First TV Commercial
Lending Club has produced its first television commercial with the help of Marketing Architects Inc. As far as we know, it’s the first peer-to-peer lending company, at least in the United States, to use television advertising. The commercial targets borrowers with credit card debt and suggests Lending Club as a solution to get out of [...]
The Great Lending Club Experiment: September 2011 Update
I’m now approximately one month into what I’m calling the “Great Lending Club Experiment.” I am investing $60,000 of my own money into Lending Club notes using several different strategies. The goal is to determine which of the strategies I am testing provides the best combination of risk and reward. One of the strategies that [...]
Lending Club Receives Two More Investment Partners
Lending Club issued a press release today announcing that Peter J. Thomson and Thomvest Ventures have made strategic investments in the company. Peter Thomson has become an investor in the Conservative Consumer Credit Fund, which invests in the two highest grades of 36-month consumer loans originated through the Lending Club platform. Thomvest, Thomson’s venture fund, [...]
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