399:(SEC) seeking the registration of $ 600 million in "Member Payment Dependent Notes" to be issued on its website. On August 1, 2008, LendingClub filed an amendment to its Form S-1 outlining new interest rate formulas as well as more details on a "resale trading system". On October 14, 2008, LendingClub announced its completion of the SEC registration process, posted the filed prospectus on its website, and resumed new lender registration. Notes issued on or after October 14, 2008 represent LendingClub securities rather than direct obligations of the ultimate borrower and are tradable (can be bought and sold) on the Foliofn trading platform. In March 2009, LendingClub raised $ 12 million in a Series B funding round led by
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vetting community bank lenders for BancAlliance (a group of 200 banks), in order to send people on its platform to various community finance institutions. That year
LendingClub partnered with Opportunity Fund, announced by former President Bill Clinton at the Clinton Global Initiative. The partnership intended to provide $ 10 million to small businesses in areas of California that are underserved by lenders. LendingClub and other small business lenders partnered with Sam’s Club to deliver its “business lending center” product.
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loan attributes such as the length of a loan term, target weighted average interest rate, borrower credit score, employment tenure, homeownership status, and others. To reduce default risk, LendingClub focuses on high-credit-worthy borrowers, declining approximately 90% of the loan applications it received as of 2012 and assigning higher interest rates to riskier borrowers within its credit criteria. Only borrowers with
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debts. The investors had funded $ 11,217,348,156 in loans, with $ 1,911,759,192 coming from Q2 2015. The nominal average interest rate is 14.08%, default rate 3.39%, and an average net annualized return (net of defaults and service fees) of 8.93%. The average returns of investment for
LendingClub lenders are between 5.47% and 10.22%, with 23 straight quarters of positive returns as of the second quarter of 2013.
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would receive from most banks. It averaged between a six and nine percent return to investors between its founding and 2013. However, because lenders were making personal loans to individuals on the site, their gains were taxable as personal income instead of investment income. Therefore, income from
LendingClub loans could be taxed at a higher rate than investments taxed at the
658:, LendingClub determined whether the borrower was creditworthy and assigned to its approved loans a credit grade that determined the payable interest rate and fees. The standard loan period was three years; a five-year period was available at a higher interest rate and additional fees. The loans can be
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and
Thomvest, owned by the Thomson family of Thomson-Reuters. This led to LendingClub earning a $ 275 million post-money valuation and an increase of $ 80 million in valuation from the preceding year. Thomson-Reuters founder Peter J. Thomson also invested an unspecified amount of his personal fortune
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Until August 2020, investors had the ability to put notes up for sale before the notes have reached maturity. This service was offered in a partnership with FOLIOfn
Investments which charged a 1% fee on note sales, making LendingClub the first peer-to-peer lending network to offer a secondary market
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reported that
Laplanche had been fired by the board. Three of the firm's other managers had also been fired or had resigned by that time as a result of the problematic loans. LendingClub's stock price fell by a further 34 percent after Laplanche's departure was announced. This placed the stock price
529:
Like other peer-to-peer lenders including
Prosper, Sofi, and Khutzpa.com, LendingClub experienced increasing difficulty attracting investors during early 2016. This led the firm to increase the interest rate it charged borrowers on three occasions during the first months of the year. The increase in
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in April 2015 that
LendingClub would expand into car loans and mortgages. LendingClub also announced a partnership with Google to extend credit to smaller companies that use Google's business services. The company signed partnerships with Google, Alibaba.com, BancAlliance, and HomeAdvisor, including
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between $ 1,000 and $ 40,000. The standard loan period was three years. Investors were able to search and browse the loan listings on
LendingClub website and select loans that they wanted to invest in based on the information supplied about the borrower, amount of loan, loan grade, and loan purpose.
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After registering with the SEC, LendingClub stopped presenting itself as a social network and maintaining that social affinity will necessarily reduce the defaulting risk. It now presents the algorithm just as a search tool for investors to find Notes they would like to purchase, using borrower and
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in
December 2019, executive Valerie Kay noted that LendingClub had switched focus to institutional investors as well as its traditional peer-to-peer lending through a new project called "Scale", focused on delivering representative samples of loans instead of individual loans - labeled its "Select"
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purchased a stake in LendingClub. LendingClub also began partnering with smaller banks in order to help streamline their small loans operations. In June 2013 the company partnered with Titan Bank in Texas and Congressional Bank in Maryland in order to help them facilitate loans that would have been
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and set up opportunities for members to identify group affinities, based on a theory that borrowers would be less likely to default to lenders with whom they had affinities and social relationships. It developed an algorithm called LendingMatch for identifying common relationship factors such as
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and investors a service fee. The size of the origination fee depended on the credit grade and ranges to be 1.1–5.0% of the loan amount. The size of the service fee was 1% on all amounts the borrower pays. The company facilitated interest rates that were better for lenders and borrowers than they
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reported that LendingClub "has struggled to overcome the effects of a governance scandal last May", and that the firm "has battled to keep big investors buying loans" despite improvements to its internal governance. These challenges have led it to raise its loss estimate, and have led to further
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In April 2016, a LendingClub employee reported to Laplanche that the dates on approximately $ US 3 million in the firm's loans appeared to have been altered. LendingClub's internal auditor engaged an outside firm to investigate the report. This investigation found additional problems with loans,
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As of June 30, 2015, the average LendingClub borrower has a FICO score of 699, 17.7% debt-to-income ratio (excluding mortgage), 16.2 years of credit history, $ 73,945 of personal income and takes out an average loan of $ 14,553 that s/he uses for debt consolidation or for paying off credit card
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In 2020, LendingClub acquired Radius Bank and announced that it would be shutting down its peer-to-peer lending platform. Existing account holders will continue to collect interest on existing notes until each loan is paid off or goes into default, but no new loans are available for individual
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Investors made money from interest. Rates varied from 6.03% to 26.06%, depending on the credit grade assigned to the loan request. The grades assigned to these requests ranged alphabetically from A to G, with A being the highest-grade, lowest-interest loan. Each of these letter grades had five
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continuing as the company CEO and chairman of the Board of Directors. The company averaged about $ 1.5 million in loan originations daily, with a total of $ 600 million since its founding. In April 2012, LendingClub's SEC registration from 2008 was renewed for $ 1 billion USD in Member Payment
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After the notes were issued, LendingClub purchased the loans from the issuing bank and notes became the obligations of LendingClub, and not of the ultimate borrower: LendingClub has promised to pay the noteholder monies it receives from the borrower less its service fees, while the holders of
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Investors were able to search and browse the loan listings on LendingClub website and select loans that they wanted to invest in based on the information supplied about the borrower, amount of loan, loan grade, and loan purpose. The loans could only be chosen at the interest rates assigned by
624:
In February 2020 LendingClub announced that it had agreed to buy Radius Bank for $ 185 million in cash and stock. The deal was the first time since the 2008 financial crisis that a U.S. "fintech" lender bought a regulated bank. In 2021, it was integrated into the LendingClub brand.
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In 2011 and 2012 the company was named to as one of the AlwaysOn Global 250. LendingClub is the winner of the World Economic Forum 2012 Technology Pioneer Award. It has been recognized by Forbes as one of America’s 20 most promising companies in 2011 and 2012, and by
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LendingClub notes have the status of unsecured creditors of LendingClub. This means that there is a risk that the investor may lose all or part of the investment if LendingClub becomes insolvent or declares bankruptcy, even if the ultimate borrower continues to pay.
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LendingClub enabled borrowers to create loan listings on its website by supplying details about themselves and the loans that they would like to request. All loans were unsecured personal loans and could be between $ 1,000 - $ 40,000. On the basis of the borrower’s
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for peer-to-peer loans. Other peer-to-peer lending networks, such as Khutzpa.com, subsequently also partnered with FOLIOfn Investments to offer a secondary market. Effective August 28, 2020, the secondary market for trading Lending Club notes was discontinued.
325:(SEC), and to offer loan trading on a secondary market. At its height, LendingClub was the world's largest peer-to-peer lending platform. The company reported that $ 15.98 billion in loans had been originated through its platform up to December 31, 2015.
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as one of the ten most innovative financial companies in the world. It was named one of the Disruptor 50 by CNBC in May 2013 and 2014, as a disruptive innovator in next generation financial services. In 2014, LendingClub was recognized by
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with the SEC, the offering taking place in December 2014. On December 10, 2014, the company raised almost $ 900 million in the largest U.S. tech IPO of 2014. The stock ended the first trading day up 56%, valuing the company at $ 8.5bn.
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joined Mack on LendingClub's board of directors. This led to a $ 570 million valuation of the company. In November 2012, LendingClub surpassed $ 1 billion in loans issued since inception and announced they were now cash flow positive.
850:
On 29 October 2020, the bank has progressed its partnership with the Treasury Prime application programming interface (API) with the roll-out of its Business API Banking Software and sandbox testing technology.
351:
industry and one of the largest such firms, LendingClub experienced problems in early 2016, with difficulties in attracting investors, a scandal over some of the firm's loans and concerns by the board over CEO
702:. During May of that year, LendingClub was seeking to sell hundreds of millions of dollars worth of loans as bonds as part of a strategy to overcome difficulties in accessing sufficient funding.
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632:, when it invested heavily in commercial real estate. In 2014, it was renamed Radius Bank. In June 2016, private investors had acquired approximately 95% of Radius Bancorp in response to
726:
The statistics on LendingClub's website state that, as of December 31, 2016, 62.3 percent of borrowers report using their loans to refinance other loans or pay credit card debt.
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On April 8, 2008, LendingClub temporarily suspended new lender registration, canceled its affiliate program and entered a "quiet period" while it awaited approval to issue
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reported that the investigation found that Laplanche had not disclosed to the board that he owned part of an investment fund which LendingClub was considering purchasing.
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Radius had been founded in 1987 as First Trade Union Bank by the carpenters union in Massachusetts, using pension funds. The bank, however, struggled during the
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Investors made money from the interest on these loans. LendingClub made money by charging borrowers an origination fee and investors a service fee.
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In April 2020, the company announced it would lay off around one third of its employees in anticipation of the economic downturn resulting from the
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region of the U.S. In May 2016, the bank expanded its SBA lending program nationally with the establishment of a new government-guaranteed
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The company raised $ 1 billion in what became the largest technology IPO of 2014 in the United States. Though viewed as a pioneer in the
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investment bank did not in fact meet the bank's investment criteria. LendingClub bought these loans back from the bank and resold them.
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On May 6, LendingClub's board made it clear to Laplanche that he no longer had their confidence, leading to his resignation on 9 May.
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interest rates and concerns over the impact of the slowing United States economy caused a large drop in LendingClub's share price.
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into LendingClub. In fall 2011, LendingClub's headquarters moved to downtown San Francisco; its earlier offices were located in
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finer-grain sub-grades, numbered 1 to 5, with 1 being the highest sub-grade. LendingClub made money by charging borrowers an
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Dependent Notes and became effective on April 10, 2012. In June 2012, the company received $ 15 million in new funding from
2531:
1762:
2848:
997:
2578:
2496:"Lending Club Completes $ 600 Million SEC Registration and Offers New Alternative for Consumer Credit - LendingClub Blog"
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investing. It is also no longer possible to sell existing loans through a secondary marketplace, as was once the case.
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drops in its share price. At this time many other peer to peer lending companies were also experiencing difficulties.
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LendingClub, but investors could decide how much to fund each borrower, with a minimum investment of $ 25 per note.
3025:"Prosper Marketplace and Radius Bank Join Forces to Offer Personal Loans Through Online Lending Platform | Prosper"
336:
LendingClub also makes traditional direct to consumer loans, including automobile refinance transactions, through
2336:
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and joined by existing investors including Morgenthaler Ventures, Norwest Venture Partners and Canaan Partners.
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geographic location, educational and professional background, and connectedness within a given social network.
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at 70 percent of the price at the time of the firm's initial public offering. As a result of the incident, the
2922:
2822:
948:"The founder of LendingClub, ousted two years ago, pledges not to make the same mistakes with his new company"
3567:
3403:
2189:"With OCC approval of Radius Bank, LendingClub is one step closer to becoming a marketplace bank – Tearsheet"
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when it was operating as Radius Bank. Customers have access to online banking and mobile apps available for
1747:
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In October 2020, the company ceased all new loan accounts on their website as part of restructuring into a
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also stated that Laplanche was found to have not fully disclosed what he knew about the problematic loans.
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492:. In April 2014 LendingClub acquired Springstone Financial. On August 27, 2014, LendingClub filed for an
2316:
2747:
2495:
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2057:"Interview with Valerie Kay, the LendingClub exec redefining the marketplace lender - Business Insider"
831:
780:
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2425:
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314:
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Mark Calvey (December 10, 2014). "Lending Club soars on first day of trading — 5 things to watch".
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2005:
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2164:"LendingClub buys Radius Bank for $ 185 million in first fintech takeover of a regulated US bank"
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program. LendingClub had grown to $ 10.8 billion in annual loan originations in the year 2018.
3202:"Radius Equipment Finance – Community Banking Redefined - Article | Equipment Finance Advisor"
1862:
1560:"Lending Club Lands $ 17.5 Million from Kleiner Perkins and Morgan Stanley Chairman John Mack"
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423:
400:
3077:"Radius Bank Partners With Aspiration to Launch New Best-In-Class Personal Checking Account"
803:
in 2013. This was followed by a partnership with Prosper to provide personal loans in 2015.
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Only investors in 39 US states were eligible to purchase notes on the LendingClub platform.
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3359:
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947:
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344:. The loans are not funded by investors but are assigned to other financial institutions.
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1432:"From Lending Club To China: Soul Htite Builds Top Chinese P2P Lending Site Dianrong"
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disclosures leading to a large drop in its share price and Laplanche's resignation.
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As of 2016, a high proportion of funds for LendingClub-facilitated loans came from
598:
In August 2020, the company discontinued its secondary trading platform, hosted by
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1778:"Exclusive Interview: Lending Club CEO Plans Expansion Into Car Loans, Mortgages"
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1462:
1458:"With bank credit frozen, small U.S. businesses starting to turn to microlenders"
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Radius Bank launched another fintech partnership in July 2015 with Aspiration.
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In April 2010, the company raised $ 24.5 million in a Series C funding led by
372:
as one of Facebook's first applications. After receiving $ 10.26 million in a
35:
3958:
3278:"Radius Bank Unveils Commercial API Banking Platform & Developer Sandbox"
2361:
1076:
874:
137:
54:
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340:, an FDIC-insured, state-chartered industrial bank that is headquartered in
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2616:
1849:"Will LendingClub-Opportunity Fund Affiliation Spur Growth? - Analyst Blog"
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72:
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In December 2020, the company ceased to operate as a peer-to-peer lender.
395:
to lenders. On June 20, 2008, LendingClub filed an S-1 statement with the
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was reported to be investigating LendingClub's disclosures to investors.
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as one of the 500 Fastest Growing Private Companies in America at #248.
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LendingClub operates an online-focused community bank headquartered in
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2089:"LendingClub to lay off about a third of employees due to coronavirus"
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67:
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1937:
1935:
317:. It was the first peer-to-peer lender to register its offerings as
3923:
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3721:
3661:
2975:"This Small Bank Is Putting Its Brand on Prosper's Loan Experience"
2823:"How One Community Bank Closed Its Branches And Went Fully Digital"
2474:
1591:"Google Buys Stake in LendingClub Startup Valued at $ 1.55 Billion"
534:
including that $ US 22 million in loans which had been sold to the
448:
373:
369:
2387:"Radius Bank Announces Closing of Transaction With Investor Group"
1406:"Thursday Deals Roundup: Zagat, Platfora, Lending Club & More"
1233:"Lending Club Files For SEC Registration, Hopes To Resume Service"
3825:
3774:
3694:
3684:
3176:"radius-bank-announces-acquisition-of-equipment-finance-division"
2523:
1932:
1409:
1048:"AvantCredit Raises $ 225 Million From Tiger Global, Peter Thiel"
819:
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500:
418:
In August 2011, LendingClub raised an additional $ 25 million in
348:
1889:"As Lending Club Stumbles, Its Entire Industry Faces Skepticism"
1688:"Frustrated With Your Bank? Lending Club to Make Business Loans"
915:"Investors warm to Lending Club, the fintech that became a bank"
771:
LendingClub formerly had one physical banking branch located in
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1999:
1997:
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1002:
969:"Dianrong: The start-up that's building China's banking system"
772:
3101:"Radius Bank in Boston Launches National SBA Lending Platform"
2115:"LendingClub Closing Down Their Platform for Retail Investors"
3810:
3726:
1730:
1588:
1265:"LendingClub Discloses Changes to How It Sets Interest Rates"
877:
Innovation Award in 2014 for the consumer products category.
830:(SBA) Lender since 2009, primarily focused on lending in the
599:
436:
376:
funding round in August 2007, from venture capital investors
236:
3051:"'Private-ish' Bank Aspiration to Exit Beta Within 6 Months"
2923:"How Radius Bank Closed Its Branches And Went Fully Digital"
1994:
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1708:"LendingClub, Valued at $ 3.8 Billion, Acquires Springstone"
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1129:"LendingClub Founder and CEO, Renaud Laplanche – Interview"
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When initially founded, LendingClub positioned itself as a
602:, reducing liquidity for existing peer-to-peer investors.
3381:"America's Most Promising Companies (2012): Lending Club"
3227:"NewStar Sells Equipment Finance Business To Radius Bank"
2337:"Radius Bank Promises New Growth After Sale – LaborPress"
1961:
1944:"LendingClub board lost trust in CEO amid probe: Sources"
1869:
998:"America's Most Promising Companies (2011): Lending Club"
776:
654:, credit history, desired loan amount and the borrower’s
507:, San Francisco, the location of LendingClub headquarters
493:
299:
1029:"LendingClub Corporation 2023 Annual Report (Form 10-K)"
3404:
The world's top 10 most innovative companies in finance
3126:"With Hiring Spree Radius Bank Takes Small Businesses"
2362:"BayBoston - A Financial Services Private Equity Firm"
2137:"LendingClub to acquire Radius Bank for $ 185 million"
1831:"Lending Club's Newest Deal Fuels Investor Excitement"
2849:"Radius Bank Overhauls Its Digital Banking Platforms"
1156:"Entretien avec Renaud Laplanche, CEO de LendingClub"
3252:"Radius Bank Rolls Out API Platform For B2B Banking"
2658:"Why Is Larry Summers Signing Up With Lending Club?"
2579:"P-to-P Debt Consolidating To Affect Bank Balances?"
2366:
BayBoston - A Financial Services Private Equity Firm
619:
488:
In March 2014, LendingClub began providing loans to
454:
In 2012, the company employed about 80 people, with
2004:McLannahan, Ben; Badkar, Mamta (December 8, 2017).
1863:"Sam's Club adds new lending service for small biz"
2532:"Goldman, Jefferies Put LendingClub Deals on Hold"
1537:"Lending Club Commences $ 1 Billion Note Offering"
1301:"Lending Club gets a 12 million credibility boost"
524:
2612:"Alternative lending sites often have good deals"
1671:Lending Club CEO on Getting a Loan Without a Bank
578:
313:is a financial services company headquartered in
3980:Financial services companies based in California
3970:Financial services companies established in 2006
3956:
2297:"First Trade Union Bank to Become "Radius Bank""
2003:
1355:Levy, Ari; Campbell, Dakin (September 8, 2011).
483:
3990:Companies listed on the New York Stock Exchange
2949:"Inside Radius Bank's virtual banking strategy"
2655:
2530:Rudegeair, Peter; Baer, Justin (May 10, 2016).
2468:
1685:
1645:"Community banks find a friend in Lending Club"
1378:"Lending Club Nabs $ 25 Million In New Funding"
873:, the company’s founder and CEO, also received
463:and $ 2.5 million of personal investments from
2212:
2210:
1804:"Lending Club Wants to Broaden Its Membership"
1765:(Press release). USA Today. December 11, 2014.
1664:
1488:"Lending Club prospectus (government filings)"
1180:
838:team. In December 2016, the bank acquired the
729:
639:
384:, LendingClub was developed into a full-scale
3596:
2529:
1589:Dakin Campbell & Ari Levy (May 2, 2013).
1357:"LendingClub attracts attention of investors"
3634:
2576:
2440:
1763:"LendingClub shares debut to 56% stock rise"
1375:
1354:
1320:
1147:
723:of 660 or higher can be approved for loans.
3548:Business data for LendingClub Corporation:
3409:February 11, 2013; Accessed March 22, 2013.
2321:: CS1 maint: numeric names: authors list (
2207:
2031:"LendingClub Shares Tumble to a Record Low"
1744:
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1108:"Making Personal Loans For Fun And Profit"
1101:
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3330:"Announcing the 2012 AlwaysOn Global 250"
3304:"Announcing the 2011 AlwaysOn Global 250"
2294:
2216:
1977:"LendingClub CEO Fired Over Faulty Loans"
1509:
1507:
1505:
1079:January 5, 2013; Accessed March 22, 2013.
912:
3610:
2685:"Lending Club Statistics | Lending Club"
1974:
1705:
1579:
1482:
1480:
499:
328:LendingClub enabled borrowers to create
2405:"Alternative Investments: How It Works"
2217:Fernandes, Deirdre (November 4, 2014).
1886:
1828:
1801:
1775:
1676:March 14, 2013; Accessed March 16, 2103
1326:
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1230:
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1045:
1033:U.S. Securities and Exchange Commission
981:
397:U.S. Securities and Exchange Commission
3957:
2420:
2418:
2006:"Lending Club shares plumb new depths"
1829:Farrell, Maureen (February 10, 2015).
1614:
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1502:
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908:
906:
368:LendingClub was initially launched on
3584:
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3093:
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2711:Lending Club; Accessed March 22, 2013
2656:Matthew Zietlin (December 14, 2012).
1477:
1154:Ohayon, Ouriel (September 11, 2007).
1106:Barret, Victoria (December 2, 2010).
1054:. United States. Business Insider Inc
1023:
1021:
1019:
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1015:
1013:
809:
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2748:"Contact Us | Save with LendingClub"
2722:"The Growth of Peer-to-Peer Lending"
2426:"Interest Rates and How We Set Them"
2238:
1941:
1608:
1551:
1529:
1429:
966:
945:
913:Armstrong, Robert (March 17, 2021).
461:Kleiner Perkins Caufield & Byers
3489:"Innovation Awards and Summit 2014"
2609:
2603:
2415:
2161:
1455:
1348:
1046:McBride, Sarah (December 4, 2014).
903:
887:Comparison of crowdfunding services
766:
738:
16:American financial services company
13:
3509:
3389:. February 7, 2013. Archived from
3090:
2714:
2469:John Blackstone (March 24, 2013).
2219:"Union's bank is set to go public"
2065:. December 6, 2019. Archived from
1686:Kimberly Weisul (March 25, 2014).
1617:"Myinstantoffer Lending Club Loan"
1449:
1120:
1010:
660:repaid at any time without penalty
563:Securities and Exchange Commission
323:Securities and Exchange Commission
150:Scott Sanborn, CEO & president
14:
4006:
3985:2006 establishments in California
3533:
2584:. American Banker. Archived from
2577:Daniel Wolfe (December 6, 2007).
1327:Wauters, Robin (April 14, 2010).
1299:Wauters, Robin (March 19, 2009).
1131:. Center Networks. Archived from
747:. LendingClub is a member of the
685:
620:Takeover of Radius Bancorp, 2020-
480:otherwise unprofitable for them.
435:. Co-founder Soul Htite moved to
406:
3965:Companies based in San Francisco
3940:
3939:
3481:
3456:
3434:
3412:
3397:
3322:
2898:"Radius Mobile on the App Store"
2610:Chu, Kathy (December 25, 2007).
2295:Engage121 (September 26, 2014).
1887:Corkery, Michael (May 9, 2016).
1802:Buhayar, Noah (April 23, 2015).
1615:Empson, Rip (November 6, 2012).
1558:Taylor, Colleen (June 6, 2012).
1404:Wade Roush (September 8, 2011).
1231:Kincaid, Jason (June 21, 2008).
946:Levy, Ari (September 16, 2018).
826:businesses. The bank has been a
263:
262:
244:
243:
225:
224:
206:
205:
181:
180:
34:
3332:. July 25, 2012. Archived from
3306:. July 30, 2011. Archived from
3296:
3270:
3244:
3219:
3194:
3168:
3143:
3118:
3069:
3043:
3017:
2992:
2967:
2941:
2915:
2890:
2873:Bank, Radius (April 21, 2017),
2866:
2841:
2815:
2765:
2740:
2702:
2677:
2649:
2624:
2570:
2549:
2502:
2488:
2462:
2397:
2379:
2354:
2329:
2288:
2263:
2181:
2162:Son, Hugh (February 18, 2020).
2155:
2129:
2107:
2081:
2049:
2023:
1975:Rudegair, Peter (May 9, 2016).
1906:
1855:
1841:
1822:
1795:
1769:
1755:
1738:
1718:
1699:
1679:
1636:
1490:. Lending Club. August 15, 2011
1430:Wang, Yue (December 16, 2015).
1423:
1397:
1376:Pui-Wing Tam (August 3, 2011).
1369:
1271:
1257:
1239:
1224:
1206:
967:Levy, Ari (December 18, 2014).
842:division of NewStar Financial.
790:
525:Scandal and struggle, 2016-2017
3975:Peer-to-peer lending companies
3000:"Personal Loans - Radius Bank"
1539:. Lending Club. April 10, 2012
1456:Mui, Ylan Q. (March 8, 2010).
1190:. Lending Club. Archived from
1127:Allen Stern (August 6, 2007).
1082:
1066:
960:
939:
854:
845:
705:
579:End of P2P platform, 2019-2020
1:
3995:2014 initial public offerings
1643:Mark Calvey (June 20, 2013).
897:
828:Small Business Administration
484:Initial public offering (IPO)
1748:San Francisco Business Times
1650:San Francisco Business Times
795:The bank launched its first
7:
3676:United Prosperity (Defunct)
1706:Ari Levy (April 17, 2014).
880:
755:as well as a member of the
730:Loan performance statistics
644:
640:Peer-to-peer business model
98:; 18 years ago
10:
4011:
3151:"Radius Equipment Finance"
1279:"Prospectus - LendingClub"
814:LendingClub Bank provides
787:reimbursements worldwide.
467:. Kleiner Perkins partner
363:
18:
3936:
3916:
3895:
3888:
3788:
3767:
3760:
3740:
3714:
3707:
3690:Virgin Money US (Defunct)
3627:
3618:
2632:"Lending Club Prospectus"
1942:Levy, Ari (May 9, 2016).
1515:"Lending Club Statistics"
1090:"Lending Club Statistics"
712:social networking service
609:after the acquisition of
315:San Francisco, California
294:
282:
272:
253:
234:
215:
196:
175:
154:
144:
129:
110:
92:
82:
52:
42:
33:
2246:"About Us - Radius Bank"
783:devices and offers free
630:subprime mortgage crisis
378:Norwest Venture Partners
330:unsecured personal loans
19:Not to be confused with
3231:GlobeNewswire News Room
2536:The Wall Street Journal
2471:"Share and Share Alike"
2301:GlobeNewswire News Room
1981:The Wall Street Journal
1362:San Francisco Chronicle
558:The Wall Street Journal
550:The Wall Street Journal
512:Car loans and mortgages
267:US$ 1.25 billion (2023)
248:US$ 8.83 billion (2023)
229:US$ 38.9 million (2023)
210:US$ 54.6 million (2023)
29:LendingClub Corporation
3780:Zencap Global Services
3521:The Lending Club Story
568:In December 2017, the
508:
3856:RebuildingSociety.com
3493:EconomistInsights.com
3356:"Technology Pioneers"
583:In an interview with
503:
424:Union Square Ventures
401:Morgenthaler Ventures
3851:RateSetter (Defunct)
3796:Abundance Investment
3612:Peer-to-peer lending
3422:. CNBC. May 15, 2013
3393:on February 9, 2013.
3360:World Economic Forum
3057:. September 24, 2015
3031:. September 16, 2015
2271:"InstitutionHistory"
1035:. February 16, 2024.
1006:. November 30, 2011.
753:Equal Housing Lender
656:debt-to-income ratio
445:peer-to-peer lending
386:peer-to-peer lending
162:Peer-to-peer lending
3871:Wellesley & Co.
3667:Prosper Marketplace
2927:The Financial Brand
2827:The Financial Brand
2777:Nyceinfomanager.com
2752:www.lendingclub.com
2689:www.lendingclub.com
2510:"How Trading Works"
2498:. October 14, 2008.
2409:www.lendingclub.com
2143:. February 19, 2020
2069:on December 6, 2019
1835:Wall Street Journal
1776:Baptiste Su, Jean.
1383:Wall Street Journal
1286:www.lendingclub.com
840:equipment financing
274:Number of employees
30:
3284:. October 29, 2020
3258:. October 29, 2020
3182:. December 2, 2016
2709:Earn Solid Returns
2637:. October 15, 2010
2317:cite press release
2195:. January 11, 2021
2037:. December 7, 2017
1914:"A ripple of fear"
1893:The New York Times
1734:. August 27, 2014.
810:Commercial banking
680:capital gains rate
509:
413:Foundation Capital
354:Renaud Laplanche's
140:, California, U.S.
87:Financial services
28:
3952:
3951:
3932:
3931:
3884:
3883:
3756:
3755:
3748:Funding Societies
3703:
3702:
3685:Vittana (Defunct)
3528:978-1-48113-173-5
3310:on April 30, 2013
3282:Crowdfund Insider
2117:. October 7, 2020
1267:. August 4, 2008.
1168:on March 23, 2012
927:on March 18, 2021
892:Disintermediation
799:partnership with
447:company based in
308:
307:
134:595 Market Street
4002:
3943:
3942:
3893:
3892:
3765:
3764:
3732:Qifang (Defunct)
3712:
3711:
3642:BTCJam (Defunct)
3632:
3631:
3605:
3598:
3591:
3582:
3581:
3545:
3544:
3542:Official website
3517:Renaud Laplanche
3504:
3503:
3501:
3499:
3485:
3479:
3478:
3476:
3474:
3460:
3454:
3453:
3451:
3449:
3438:
3432:
3431:
3429:
3427:
3416:
3410:
3401:
3395:
3394:
3377:
3371:
3370:
3368:
3366:
3352:
3346:
3345:
3343:
3341:
3336:on June 28, 2013
3326:
3320:
3319:
3317:
3315:
3300:
3294:
3293:
3291:
3289:
3274:
3268:
3267:
3265:
3263:
3248:
3242:
3241:
3239:
3237:
3223:
3217:
3216:
3214:
3212:
3198:
3192:
3191:
3189:
3187:
3172:
3166:
3165:
3163:
3161:
3147:
3141:
3140:
3138:
3136:
3122:
3116:
3115:
3113:
3111:
3097:
3088:
3087:
3085:
3083:
3073:
3067:
3066:
3064:
3062:
3047:
3041:
3040:
3038:
3036:
3021:
3015:
3014:
3012:
3010:
2996:
2990:
2989:
2987:
2985:
2971:
2965:
2964:
2962:
2960:
2945:
2939:
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2936:
2934:
2919:
2913:
2912:
2910:
2908:
2894:
2888:
2887:
2886:
2884:
2870:
2864:
2863:
2861:
2859:
2845:
2839:
2838:
2836:
2834:
2819:
2813:
2812:
2810:
2808:
2794:
2788:
2787:
2785:
2783:
2769:
2763:
2762:
2760:
2758:
2744:
2738:
2737:
2735:
2733:
2718:
2712:
2706:
2700:
2699:
2697:
2695:
2681:
2675:
2674:
2672:
2670:
2653:
2647:
2646:
2644:
2642:
2636:
2628:
2622:
2621:
2607:
2601:
2600:
2598:
2596:
2591:on July 13, 2011
2590:
2583:
2574:
2568:
2567:
2565:
2563:
2553:
2547:
2546:
2544:
2542:
2527:
2521:
2520:
2518:
2516:
2506:
2500:
2499:
2492:
2486:
2485:
2483:
2481:
2466:
2460:
2459:
2457:
2455:
2448:"Rates and Fees"
2444:
2438:
2437:
2435:
2433:
2422:
2413:
2412:
2401:
2395:
2394:
2383:
2377:
2376:
2374:
2372:
2358:
2352:
2351:
2349:
2347:
2333:
2327:
2326:
2320:
2312:
2310:
2308:
2292:
2286:
2285:
2283:
2281:
2267:
2261:
2260:
2258:
2256:
2242:
2236:
2235:
2233:
2231:
2224:The Boston Globe
2214:
2205:
2204:
2202:
2200:
2185:
2179:
2178:
2176:
2174:
2159:
2153:
2152:
2150:
2148:
2133:
2127:
2126:
2124:
2122:
2111:
2105:
2104:
2102:
2100:
2095:. April 21, 2020
2085:
2079:
2078:
2076:
2074:
2062:Business Insider
2053:
2047:
2046:
2044:
2042:
2027:
2021:
2020:
2018:
2016:
2001:
1992:
1991:
1989:
1987:
1972:
1959:
1958:
1956:
1954:
1939:
1930:
1929:
1927:
1925:
1920:. March 23, 2016
1910:
1904:
1903:
1901:
1899:
1884:
1867:
1866:
1859:
1853:
1852:
1851:. June 16, 2015.
1845:
1839:
1838:
1826:
1820:
1819:
1817:
1815:
1799:
1793:
1792:
1790:
1788:
1773:
1767:
1766:
1759:
1753:
1752:
1742:
1736:
1735:
1722:
1716:
1715:
1703:
1697:
1696:
1683:
1677:
1668:
1662:
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1657:
1640:
1634:
1633:
1631:
1629:
1612:
1606:
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1603:
1601:
1586:
1577:
1576:
1574:
1572:
1555:
1549:
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1546:
1544:
1533:
1527:
1526:
1524:
1522:
1511:
1500:
1499:
1497:
1495:
1484:
1475:
1474:
1472:
1470:
1453:
1447:
1446:
1444:
1442:
1427:
1421:
1420:
1418:
1416:
1401:
1395:
1394:
1392:
1390:
1373:
1367:
1366:
1352:
1346:
1345:
1343:
1341:
1324:
1318:
1317:
1315:
1313:
1296:
1290:
1289:
1283:
1275:
1269:
1268:
1261:
1255:
1254:
1243:
1237:
1236:
1228:
1222:
1221:
1210:
1204:
1203:
1201:
1199:
1184:
1178:
1177:
1175:
1173:
1164:. Archived from
1151:
1145:
1144:
1142:
1140:
1135:on March 8, 2012
1124:
1118:
1117:
1103:
1094:
1093:
1086:
1080:
1070:
1064:
1063:
1061:
1059:
1052:Business Insider
1043:
1037:
1036:
1025:
1008:
1007:
994:
979:
978:
964:
958:
957:
943:
937:
936:
934:
932:
923:. Archived from
910:
871:Renaud Laplanche
767:Consumer banking
739:Banking services
585:Business Insider
490:small businesses
456:Renaud Laplanche
393:promissory notes
304:
301:
289:LendingClub Bank
268:
266:
265:
258:
249:
247:
246:
239:
230:
228:
227:
211:
209:
208:
199:Operating income
192:
190:
184:
183:
118:Renaud Laplanche
106:
104:
99:
38:
31:
27:
4010:
4009:
4005:
4004:
4003:
4001:
4000:
3999:
3955:
3954:
3953:
3948:
3928:
3912:
3880:
3784:
3752:
3736:
3699:
3623:
3614:
3609:
3577:
3540:
3539:
3536:
3512:
3510:Further reading
3507:
3497:
3495:
3487:
3486:
3482:
3472:
3470:
3462:
3461:
3457:
3447:
3445:
3440:
3439:
3435:
3425:
3423:
3418:
3417:
3413:
3407:Fastcompany.com
3402:
3398:
3379:
3378:
3374:
3364:
3362:
3354:
3353:
3349:
3339:
3337:
3328:
3327:
3323:
3313:
3311:
3302:
3301:
3297:
3287:
3285:
3276:
3275:
3271:
3261:
3259:
3250:
3249:
3245:
3235:
3233:
3225:
3224:
3220:
3210:
3208:
3206:Equipmentfa.com
3200:
3199:
3195:
3185:
3183:
3180:Marketwired.com
3174:
3173:
3169:
3159:
3157:
3149:
3148:
3144:
3134:
3132:
3130:bizjournals.com
3124:
3123:
3119:
3109:
3107:
3105:American Banker
3099:
3098:
3091:
3081:
3079:
3075:
3074:
3070:
3060:
3058:
3055:Bank Innovation
3049:
3048:
3044:
3034:
3032:
3023:
3022:
3018:
3008:
3006:
2998:
2997:
2993:
2983:
2981:
2979:American Banker
2973:
2972:
2968:
2958:
2956:
2947:
2946:
2942:
2932:
2930:
2929:. July 26, 2016
2921:
2920:
2916:
2906:
2904:
2896:
2895:
2891:
2882:
2880:
2871:
2867:
2857:
2855:
2853:American Banker
2847:
2846:
2842:
2832:
2830:
2829:. July 26, 2016
2821:
2820:
2816:
2806:
2804:
2796:
2795:
2791:
2781:
2779:
2771:
2770:
2766:
2756:
2754:
2746:
2745:
2741:
2731:
2729:
2728:. June 20, 2013
2720:
2719:
2715:
2707:
2703:
2693:
2691:
2683:
2682:
2678:
2668:
2666:
2663:The Daily Beast
2654:
2650:
2640:
2638:
2634:
2630:
2629:
2625:
2608:
2604:
2594:
2592:
2588:
2581:
2575:
2571:
2561:
2559:
2555:
2554:
2550:
2540:
2538:
2528:
2524:
2514:
2512:
2508:
2507:
2503:
2494:
2493:
2489:
2479:
2477:
2467:
2463:
2453:
2451:
2446:
2445:
2441:
2431:
2429:
2424:
2423:
2416:
2403:
2402:
2398:
2393:. June 7, 2016.
2385:
2384:
2380:
2370:
2368:
2360:
2359:
2355:
2345:
2343:
2335:
2334:
2330:
2314:
2313:
2306:
2304:
2303:(Press release)
2293:
2289:
2279:
2277:
2269:
2268:
2264:
2254:
2252:
2244:
2243:
2239:
2229:
2227:
2215:
2208:
2198:
2196:
2187:
2186:
2182:
2172:
2170:
2160:
2156:
2146:
2144:
2135:
2134:
2130:
2120:
2118:
2113:
2112:
2108:
2098:
2096:
2087:
2086:
2082:
2072:
2070:
2055:
2054:
2050:
2040:
2038:
2029:
2028:
2024:
2014:
2012:
2010:Financial Times
2002:
1995:
1985:
1983:
1973:
1962:
1952:
1950:
1940:
1933:
1923:
1921:
1912:
1911:
1907:
1897:
1895:
1885:
1870:
1861:
1860:
1856:
1847:
1846:
1842:
1827:
1823:
1813:
1811:
1800:
1796:
1786:
1784:
1774:
1770:
1761:
1760:
1756:
1743:
1739:
1724:
1723:
1719:
1704:
1700:
1684:
1680:
1669:
1665:
1655:
1653:
1641:
1637:
1627:
1625:
1613:
1609:
1599:
1597:
1587:
1580:
1570:
1568:
1556:
1552:
1542:
1540:
1535:
1534:
1530:
1520:
1518:
1513:
1512:
1503:
1493:
1491:
1486:
1485:
1478:
1468:
1466:
1463:Washington Post
1454:
1450:
1440:
1438:
1428:
1424:
1414:
1412:
1402:
1398:
1388:
1386:
1374:
1370:
1353:
1349:
1339:
1337:
1325:
1321:
1311:
1309:
1297:
1293:
1281:
1277:
1276:
1272:
1263:
1262:
1258:
1245:
1244:
1240:
1229:
1225:
1212:
1211:
1207:
1197:
1195:
1194:on May 17, 2008
1186:
1185:
1181:
1171:
1169:
1152:
1148:
1138:
1136:
1125:
1121:
1104:
1097:
1092:. Lending Club.
1088:
1087:
1083:
1071:
1067:
1057:
1055:
1044:
1040:
1027:
1026:
1011:
996:
995:
982:
965:
961:
944:
940:
930:
928:
920:Financial Times
911:
904:
900:
883:
857:
848:
812:
793:
769:
741:
732:
708:
688:
675:origination fee
647:
642:
622:
581:
571:Financial Times
527:
516:Laplanche told
514:
505:Stevenson Place
486:
420:venture capital
409:
382:Canaan Partners
366:
298:
275:
261:
254:
242:
235:
223:
220:
204:
201:
185:
179:
171:
147:
136:
125:
102:
100:
97:
78:
57:
24:
17:
12:
11:
5:
4008:
3998:
3997:
3992:
3987:
3982:
3977:
3972:
3967:
3950:
3949:
3937:
3934:
3933:
3930:
3929:
3927:
3926:
3920:
3918:
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3831:LandlordInvest
3828:
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3821:Funding Circle
3818:
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3808:
3803:
3801:Assetz Capital
3798:
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3535:
3534:External links
3532:
3531:
3530:
3515:Peter Renton,
3511:
3508:
3506:
3505:
3480:
3464:"Lending Club"
3455:
3442:"Lending Club"
3433:
3420:"Lending Club"
3411:
3396:
3372:
3347:
3321:
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3155:Radiusbank.com
3142:
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3004:Radiusbank.com
2991:
2966:
2955:. May 15, 2017
2940:
2914:
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2840:
2814:
2802:Radiusbank.com
2789:
2764:
2739:
2726:Bloomberg News
2713:
2701:
2676:
2648:
2623:
2602:
2569:
2557:"How It Works"
2548:
2522:
2501:
2487:
2461:
2450:. Lending Club
2439:
2428:. Lending Club
2414:
2396:
2378:
2353:
2341:laborpress.org
2328:
2287:
2262:
2250:Radiusbank.com
2237:
2206:
2180:
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2128:
2106:
2080:
2048:
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1993:
1960:
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1712:Bloomberg News
1698:
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1635:
1607:
1595:Bloomberg News
1578:
1550:
1528:
1517:. Lending Club
1501:
1476:
1448:
1422:
1396:
1368:
1347:
1329:"Lending Club"
1319:
1291:
1270:
1256:
1238:
1223:
1205:
1188:"Quiet Period"
1179:
1146:
1119:
1095:
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808:
792:
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768:
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740:
737:
731:
728:
707:
704:
687:
686:Loan ownership
684:
646:
643:
641:
638:
621:
618:
580:
577:
544:New York Times
526:
523:
513:
510:
485:
482:
477:Google Capital
408:
407:Pre-IPO growth
405:
365:
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342:Salt Lake City
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3846:Lending Works
3844:
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3635:United States
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3459:
3448:September 10,
3443:
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3236:September 26,
3232:
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3211:September 26,
3207:
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3197:
3181:
3177:
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3160:September 26,
3156:
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3110:September 26,
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3061:September 26,
3056:
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3035:September 26,
3030:
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3009:September 26,
3005:
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2984:September 26,
2980:
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2933:September 26,
2928:
2924:
2918:
2907:September 26,
2903:
2899:
2893:
2883:September 26,
2879:, Radius Bank
2878:
2877:
2876:Radius Mobile
2869:
2858:September 26,
2854:
2850:
2844:
2828:
2824:
2818:
2807:September 26,
2803:
2799:
2793:
2782:September 26,
2778:
2774:
2773:"ATM Locator"
2768:
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2367:
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2255:September 26,
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2000:
1998:
1982:
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1971:
1969:
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1945:
1938:
1936:
1919:
1918:The Economist
1915:
1909:
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1808:Bloomberg.com
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875:The Economist
872:
868:
863:
852:
843:
841:
837:
833:
829:
825:
824:middle market
822:to small and
821:
818:services and
817:
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696:
692:
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663:
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637:
636:regulations.
635:
631:
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498:
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491:
481:
478:
475:In May 2013,
473:
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138:San Francisco
135:
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3841:LendingCrowd
3656:
3520:
3496:. Retrieved
3492:
3483:
3471:. Retrieved
3467:
3458:
3446:. Retrieved
3436:
3424:. Retrieved
3414:
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3391:the original
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3350:
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3334:the original
3324:
3312:. Retrieved
3308:the original
3298:
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3129:
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3071:
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3054:
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3033:. Retrieved
3028:
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3007:. Retrieved
3003:
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2982:. Retrieved
2978:
2969:
2957:. Retrieved
2953:Tearsheet.co
2952:
2943:
2931:. Retrieved
2926:
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2905:. Retrieved
2901:
2892:
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2875:
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2688:
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2661:
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2639:. Retrieved
2626:
2617:Businessweek
2615:
2605:
2595:December 12,
2593:. Retrieved
2586:the original
2572:
2562:December 28,
2560:. Retrieved
2551:
2539:. Retrieved
2535:
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2513:. Retrieved
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2442:
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2369:. Retrieved
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2278:. Retrieved
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2253:. Retrieved
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2228:. Retrieved
2222:
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2193:tearsheet.co
2192:
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2171:. Retrieved
2167:
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2145:. Retrieved
2140:
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2109:
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2092:
2083:
2073:December 16,
2071:. Retrieved
2067:the original
2060:
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2041:December 11,
2039:. Retrieved
2034:
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2015:December 11,
2013:. Retrieved
2009:
1984:. Retrieved
1980:
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1947:
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1917:
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1896:. Retrieved
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1812:. Retrieved
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1569:. Retrieved
1563:
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1531:
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1492:. Retrieved
1467:. Retrieved
1461:
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1439:. Retrieved
1435:
1425:
1413:. Retrieved
1399:
1387:. Retrieved
1381:
1371:
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1338:. Retrieved
1332:
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1310:. Retrieved
1304:
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1196:. Retrieved
1192:the original
1182:
1170:. Retrieved
1166:the original
1159:
1149:
1137:. Retrieved
1133:the original
1122:
1111:
1084:
1068:
1056:. Retrieved
1051:
1041:
1001:
972:
962:
951:
941:
929:. Retrieved
925:the original
918:
862:Fast Company
858:
849:
813:
805:
794:
791:Partnerships
770:
742:
733:
725:
717:
709:
697:
693:
689:
671:
667:
664:
652:credit score
648:
627:
623:
615:
604:
597:
590:
582:
569:
567:
557:
555:
548:
542:
540:
532:
528:
517:
515:
487:
474:
465:John J. Mack
453:
441:Dianrong.com
433:Redwood City
417:
410:
390:
367:
358:
346:
335:
327:
310:
309:
284:Subsidiaries
278:1,025 (2023)
256:Total equity
237:Total assets
130:Headquarters
73:Russell 2000
43:Company type
25:
3917:New Zealand
3657:LendingClub
3647:Cross River
3568:SEC filings
3288:November 5,
3262:November 5,
3186:November 6,
3135:November 6,
3029:Prosper.com
2959:November 6,
2833:November 6,
2391:Marketwired
2230:November 6,
2121:October 12,
1810:. Bloomberg
1628:January 30,
1622:Tech Crunch
1565:Tech Crunch
1334:Tech Crunch
1306:Tech Crunch
1251:www.sec.gov
1218:www.sec.gov
1161:Tech Crunch
1074:Peer review
1072:Schumpeter
1058:January 25,
855:Recognition
846:API Banking
706:Credit risk
700:hedge funds
611:Radius Bank
469:Mary Meeker
311:LendingClub
300:lendingclub
189:865 million
21:LendingTree
3959:Categories
3903:SocietyOne
3836:LendInvest
2757:October 6,
2307:October 4,
2199:October 4,
1726:"Form S-1"
1340:August 15,
898:References
816:depository
745:Lehi, Utah
721:FICO score
634:Dodd Frank
595:pandemic.
319:securities
218:Net income
146:Key people
122:Soul Htite
3896:Australia
3816:Folk2Folk
3806:BondMason
3741:Singapore
3621:Companies
3553:Bloomberg
3498:March 15,
3473:March 15,
2902:App Store
2694:March 27,
2454:April 16,
2275:Ffiec.gov
2173:April 23,
1814:April 23,
1521:April 16,
832:northeast
820:financing
763:network.
536:Jefferies
439:to start
429:Sunnyvale
388:company.
321:with the
75:component
55:Traded as
3945:Category
3924:Harmoney
3866:Unbolted
3861:ThinCats
3722:Dianrong
3662:Peerform
3628:Americas
3519:(2012),
3426:June 27,
3340:June 27,
3314:June 27,
2732:June 27,
2641:March 1,
2475:CBS News
2147:March 2,
1787:April 2,
1656:June 27,
1494:April 2,
1469:April 4,
1415:June 27,
1198:April 8,
1172:April 5,
1139:April 1,
881:See also
645:Overview
593:COVID-19
449:Shanghai
374:Series A
370:Facebook
155:Services
111:Founders
83:Industry
3889:Oceania
3826:Landbay
3775:Lendico
3768:Germany
3695:Zidisha
3680:Upstart
3563:Reuters
3468:Inc.com
3365:May 17,
2669:May 28,
2541:May 11,
2515:May 28,
2480:May 28,
2432:May 18,
2141:Reuters
2093:Reuters
2035:Fortune
1986:May 10,
1953:May 10,
1924:May 10,
1898:May 10,
1600:May 28,
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