loading...
Del.icio.us
Google
Yahoo MyWeb
Facebook
Lending Club Overview
Lending Club is a p2p lending site that matches lenders with borrowers. Originally, the site used the Facebook application platform to connect lenders with borrowers, due in part to Facebook's viral nature and the fact that friends trust lending to other friends. Now, Lending Club is open to anyone. The loans are aimed at atypical borrowers, people borrowing for one-time events, like weddings and...More»
Lending Club is a p2p lending site that matches lenders with borrowers. Originally, the site used the Facebook application platform to connect lenders with borrowers, due in part to Facebook's viral nature and the fact that friends trust lending to other friends. Now, Lending Club is open to anyone. The loans are aimed at atypical borrowers, people borrowing for one-time events, like weddings and vacations, and credit card debt consolidation.
Lending Club loans have fixed interest rates with average loan durations of three years. Borrowers have to go through a rigorous credit check and grading process before they can start receiving loan requests. Lending Club claims to have high credit standards and they turn away a lot of too-risky borrowers.«Less
Key People
Management
Board of Directors
Funding
| Date | Type | Capital Amount | Post-Money Valuation | Investors |
|---|---|---|---|---|
| 05/2007 | Seed | 2M | Unknown |
|
| 08/2007 | Series A | 10.26M | Unknown |
Products
| Name: | Lending Club |
| Product URL: | http://lendingclub.com/ |
| Description: | Lending Club makes borrowers go through a credit assessment and hand out credit grades ranging from A-G. Lenders can browse borrowers' profiles and find someone they want to lend to depending on the amount of risk they are willing to take or depending on who the borrower is (like a friend). Borrowers can use anonymous screen names to post their loan requests on the Lending Club Facebook application. Most of the loan requests are for consolidating debt so most borrowers probably don't want their credit histories to be public information. On the other hand, being open with potential lenders can increase the chance of landing a loan. According to Lending Club, average loan sizes clock in around $5,500, with $1,000 being the minimum loan size and $25,000 the max. Borrowers with low credit grades have higher average interest rates than borrowers with high credit grades. |
| Screenshots: |
|
Competitors
Profile
Opinions
Page Information
11/03/2008 06:32PM by linderman57
User Opinions
Bulls vs. Bears (3)
| Bullish Opinions (2) | Author/Date | Do you agree? | |
|---|---|---|---|
|
P2P Lending should grow rapidly on social networks like Facebook |
dave 02/05/2008 |
  |
100% 5 votes 5 0% 0 |
|
P2P Lending has been shown to be successful by Prosper and Zopa |
dave 02/05/2008 |
|
100% 4 votes 4 0% 0 |
| Bearish Opinions (1) | Author/Date | Do you agree? | |
|---|---|---|---|
|
They were shut down due to lack of license
1 comment
Add Comment
|
kevins 06/20/2008 |
|
67% 3 votes 2 33% 1 |
Sounds like they may be able to resume service
|
tara | 06/20/2008 | |
Discussions (0)
Start a New Discussion
Opinion Poll
View All Opinions »
Web Metrics
View All Web Metrics »
| Alexa Rank: | 71968 |  |
12413 |
| Yahoo Search Results: | 88,200 | ||
News & Blogs
View All News »- Latest
- Most Popular
- Submit a Story »
Prepping Financial Fledglings for College
Nov 30, 2008 - 0 comments
Spare the Rod (and the Designer Jeans Too)
Nov 29, 2008 - 0 comments
Manage Multiple Twitter Accounts with #Splitweet
Nov 28, 2008 - 0 comments
SEC Outlines Its Reasoning For Shutting Down P2P Lender Prosper
Nov 26, 2008 - 0 comments
Give Children a Gift That Will Keep on Giving
Nov 26, 2008 - 0 comments
Discussions
View All Discussions »There are no discussions right now.
