410:(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
669:, 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
540:
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
635:
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.
336:(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
507:
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.
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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.
362:
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
713:. 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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643:, 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
737:
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
2542:
1773:
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1008:
2589:
2507:"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.
3036:"Prosper Marketplace and Radius Bank Join Forces to Offer Personal Loans Through Online Lending Platform | Prosper"
347:
LendingClub also makes traditional direct to consumer loans, including automobile refinance transactions, through
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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
2933:
2833:
959:"The founder of LendingClub, ousted two years ago, pledges not to make the same mistakes with his new company"
3578:
3414:
2200:"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
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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.
17:
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503:. In April 2014 LendingClub acquired Springstone Financial. On August 27, 2014, LendingClub filed for an
2327:
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2506:
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2068:"Interview with Valerie Kay, the LendingClub exec redefining the marketplace lender - Business Insider"
842:
791:
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2436:
2147:
2041:
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325:
1756:
Mark Calvey (December 10, 2014). "Lending Club soars on first day of trading — 5 things to watch".
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388:
2016:
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2175:"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.
3213:"Radius Equipment Finance – Community Banking Redefined - Article | Equipment Finance Advisor"
1873:
1571:"Lending Club Lands $ 17.5 Million from Kleiner Perkins and Morgan Stanley Chairman John Mack"
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3401:
2520:
834:
439:
434:
411:
3088:"Radius Bank Partners With Aspiration to Launch New Best-In-Class Personal Checking Account"
814:
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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958:
807:
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355:. The loans are not funded by investors but are assigned to other financial institutions.
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1443:"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
609:
In August 2020, the company discontinued its secondary trading platform, hosted by
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1789:"Exclusive Interview: Lending Club CEO Plans Expansion Into Car Loans, Mortgages"
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1473:
1469:"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
383:
as one of Facebook's first applications. After receiving $ 10.26 million in a
46:
3969:
3289:"Radius Bank Unveils Commercial API Banking Platform & Developer Sandbox"
2372:
1087:
885:
148:
65:
2256:
351:, an FDIC-insured, state-chartered industrial bank that is headquartered in
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1860:"Will LendingClub-Opportunity Fund Affiliation Spur Growth? - Analyst Blog"
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83:
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In December 2020, the company ceased to operate as a peer-to-peer lender.
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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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2100:"LendingClub to lay off about a third of employees due to coronavirus"
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1948:
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328:. It was the first peer-to-peer lender to register its offerings as
3934:
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3732:
3672:
2986:"This Small Bank Is Putting Its Brand on Prosper's Loan Experience"
2834:"How One Community Bank Closed Its Branches And Went Fully Digital"
2485:
1602:"Google Buys Stake in LendingClub Startup Valued at $ 1.55 Billion"
545:
including that $ US 22 million in loans which had been sold to the
459:
384:
380:
2398:"Radius Bank Announces Closing of Transaction With Investor Group"
1417:"Thursday Deals Roundup: Zagat, Platfora, Lending Club & More"
1244:"Lending Club Files For SEC Registration, Hopes To Resume Service"
3836:
3785:
3705:
3695:
3187:"radius-bank-announces-acquisition-of-equipment-finance-division"
2534:
1943:
1420:
1059:"AvantCredit Raises $ 225 Million From Tiger Global, Peter Thiel"
830:
811:
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511:
429:
In August 2011, LendingClub raised an additional $ 25 million in
359:
1900:"As Lending Club Stumbles, Its Entire Industry Faces Skepticism"
1699:"Frustrated With Your Bank? Lending Club to Make Business Loans"
926:"Investors warm to Lending Club, the fintech that became a bank"
782:
LendingClub formerly had one physical banking branch located in
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2010:
2008:
1123:
1013:
980:"Dianrong: The start-up that's building China's banking system"
783:
3112:"Radius Bank in Boston Launches National SBA Lending Platform"
2126:"LendingClub Closing Down Their Platform for Retail Investors"
3821:
3737:
1741:
1599:
1276:"LendingClub Discloses Changes to How It Sets Interest Rates"
888:
Innovation Award in 2014 for the consumer products category.
841:(SBA) Lender since 2009, primarily focused on lending in the
610:
447:
387:
funding round in August 2007, from venture capital investors
247:
3062:"'Private-ish' Bank Aspiration to Exit Beta Within 6 Months"
2934:"How Radius Bank Closed Its Branches And Went Fully Digital"
2005:
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1719:"LendingClub, Valued at $ 3.8 Billion, Acquires Springstone"
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1140:"LendingClub Founder and CEO, Renaud Laplanche – Interview"
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When initially founded, LendingClub positioned itself as a
613:, reducing liquidity for existing peer-to-peer investors.
3392:"America's Most Promising Companies (2012): Lending Club"
3238:"NewStar Sells Equipment Finance Business To Radius Bank"
2348:"Radius Bank Promises New Growth After Sale – LaborPress"
1972:
1955:"LendingClub board lost trust in CEO amid probe: Sources"
1880:
1009:"America's Most Promising Companies (2011): Lending Club"
787:
665:, credit history, desired loan amount and the borrower’s
518:, San Francisco, the location of LendingClub headquarters
504:
310:
1040:"LendingClub Corporation 2023 Annual Report (Form 10-K)"
3415:
The world's top 10 most innovative companies in finance
3137:"With Hiring Spree Radius Bank Takes Small Businesses"
2373:"BayBoston - A Financial Services Private Equity Firm"
2148:"LendingClub to acquire Radius Bank for $ 185 million"
1842:"Lending Club's Newest Deal Fuels Investor Excitement"
2860:"Radius Bank Overhauls Its Digital Banking Platforms"
1167:"Entretien avec Renaud Laplanche, CEO de LendingClub"
3263:"Radius Bank Rolls Out API Platform For B2B Banking"
2669:"Why Is Larry Summers Signing Up With Lending Club?"
2590:"P-to-P Debt Consolidating To Affect Bank Balances?"
2377:
BayBoston - A Financial Services Private Equity Firm
630:
499:
In March 2014, LendingClub began providing loans to
465:
In 2012, the company employed about 80 people, with
2015:McLannahan, Ben; Badkar, Mamta (December 8, 2017).
1874:"Sam's Club adds new lending service for small biz"
2543:"Goldman, Jefferies Put LendingClub Deals on Hold"
1548:"Lending Club Commences $ 1 Billion Note Offering"
1312:"Lending Club gets a 12 million credibility boost"
535:
2623:"Alternative lending sites often have good deals"
1682:Lending Club CEO on Getting a Loan Without a Bank
589:
324:is a financial services company headquartered in
3991:Financial services companies based in California
3981:Financial services companies established in 2006
3967:
2308:"First Trade Union Bank to Become "Radius Bank""
2014:
1366:Levy, Ari; Campbell, Dakin (September 8, 2011).
494:
4001:Companies listed on the New York Stock Exchange
2960:"Inside Radius Bank's virtual banking strategy"
2666:
2541:Rudegeair, Peter; Baer, Justin (May 10, 2016).
2479:
1696:
1656:"Community banks find a friend in Lending Club"
1389:"Lending Club Nabs $ 25 Million In New Funding"
884:, the company’s founder and CEO, also received
474:and $ 2.5 million of personal investments from
2223:
2221:
1815:"Lending Club Wants to Broaden Its Membership"
1776:(Press release). USA Today. December 11, 2014.
1675:
1499:"Lending Club prospectus (government filings)"
1191:
849:team. In December 2016, the bank acquired the
740:
650:
395:, LendingClub was developed into a full-scale
3607:
2540:
1600:Dakin Campbell & Ari Levy (May 2, 2013).
1368:"LendingClub attracts attention of investors"
3645:
2587:
2451:
1774:"LendingClub shares debut to 56% stock rise"
1386:
1365:
1331:
1158:
734:of 660 or higher can be approved for loans.
3559:Business data for LendingClub Corporation:
3420:February 11, 2013; Accessed March 22, 2013.
2332:: CS1 maint: numeric names: authors list (
2218:
2042:"LendingClub Shares Tumble to a Record Low"
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1119:"Making Personal Loans For Fun And Profit"
1112:
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3341:"Announcing the 2012 AlwaysOn Global 250"
3315:"Announcing the 2011 AlwaysOn Global 250"
2305:
2227:
1988:"LendingClub CEO Fired Over Faulty Loans"
1520:
1518:
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1090:January 5, 2013; Accessed March 22, 2013.
923:
3621:
2696:"Lending Club Statistics | Lending Club"
1985:
1716:
1590:
1493:
1491:
510:
339:LendingClub enabled borrowers to create
2416:"Alternative Investments: How It Works"
2228:Fernandes, Deirdre (November 4, 2014).
1897:
1839:
1812:
1786:
1687:March 14, 2013; Accessed March 16, 2103
1337:
1309:
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1056:
1044:U.S. Securities and Exchange Commission
992:
408:U.S. Securities and Exchange Commission
14:
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2431:
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2017:"Lending Club shares plumb new depths"
1840:Farrell, Maureen (February 10, 2015).
1625:
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919:
917:
379:LendingClub was initially launched on
3595:
3106:
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2722:Lending Club; Accessed March 22, 2013
2667:Matthew Zietlin (December 14, 2012).
1488:
1165:Ohayon, Ouriel (September 11, 2007).
1117:Barret, Victoria (December 2, 2010).
1065:. United States. Business Insider Inc
1034:
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1024:
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2759:"Contact Us | Save with LendingClub"
2733:"The Growth of Peer-to-Peer Lending"
2437:"Interest Rates and How We Set Them"
2249:
1952:
1619:
1562:
1540:
1440:
977:
956:
924:Armstrong, Robert (March 17, 2021).
472:Kleiner Perkins Caufield & Byers
3500:"Innovation Awards and Summit 2014"
2620:
2614:
2426:
2172:
1466:
1359:
1057:McBride, Sarah (December 4, 2014).
914:
898:Comparison of crowdfunding services
777:
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27:American financial services company
24:
3520:
3400:. February 7, 2013. Archived from
3101:
2725:
2480:John Blackstone (March 24, 2013).
2230:"Union's bank is set to go public"
2076:. December 6, 2019. Archived from
1697:Kimberly Weisul (March 25, 2014).
1628:"Myinstantoffer Lending Club Loan"
1460:
1131:
1021:
671:repaid at any time without penalty
574:Securities and Exchange Commission
334:Securities and Exchange Commission
161:Scott Sanborn, CEO & president
25:
4017:
3996:2006 establishments in California
3544:
2595:. American Banker. Archived from
2588:Daniel Wolfe (December 6, 2007).
1338:Wauters, Robin (April 14, 2010).
1310:Wauters, Robin (March 19, 2009).
1142:. Center Networks. Archived from
758:. LendingClub is a member of the
696:
631:Takeover of Radius Bancorp, 2020-
491:otherwise unprofitable for them.
446:. Co-founder Soul Htite moved to
417:
3976:Companies based in San Francisco
3951:
3950:
3492:
3467:
3445:
3423:
3408:
3333:
2909:"Radius Mobile on the App Store"
2621:Chu, Kathy (December 25, 2007).
2306:Engage121 (September 26, 2014).
1898:Corkery, Michael (May 9, 2016).
1813:Buhayar, Noah (April 23, 2015).
1626:Empson, Rip (November 6, 2012).
1569:Taylor, Colleen (June 6, 2012).
1415:Wade Roush (September 8, 2011).
1242:Kincaid, Jason (June 21, 2008).
957:Levy, Ari (September 16, 2018).
837:businesses. The bank has been a
274:
273:
255:
254:
236:
235:
217:
216:
192:
191:
45:
3343:. July 25, 2012. Archived from
3317:. July 30, 2011. Archived from
3307:
3281:
3255:
3230:
3205:
3179:
3154:
3129:
3080:
3054:
3028:
3003:
2978:
2952:
2926:
2901:
2884:Bank, Radius (April 21, 2017),
2877:
2852:
2826:
2776:
2751:
2713:
2688:
2660:
2635:
2581:
2560:
2513:
2499:
2473:
2408:
2390:
2365:
2340:
2299:
2274:
2192:
2173:Son, Hugh (February 18, 2020).
2166:
2140:
2118:
2092:
2060:
2034:
1986:Rudegair, Peter (May 9, 2016).
1917:
1866:
1852:
1833:
1806:
1780:
1766:
1749:
1729:
1710:
1690:
1647:
1501:. Lending Club. August 15, 2011
1441:Wang, Yue (December 16, 2015).
1434:
1408:
1387:Pui-Wing Tam (August 3, 2011).
1380:
1282:
1268:
1250:
1235:
1217:
978:Levy, Ari (December 18, 2014).
853:division of NewStar Financial.
801:
536:Scandal and struggle, 2016-2017
3986:Peer-to-peer lending companies
3011:"Personal Loans - Radius Bank"
1550:. Lending Club. April 10, 2012
1467:Mui, Ylan Q. (March 8, 2010).
1201:. Lending Club. Archived from
1138:Allen Stern (August 6, 2007).
1093:
1077:
971:
950:
865:
856:
716:
590:End of P2P platform, 2019-2020
13:
1:
4006:2014 initial public offerings
1654:Mark Calvey (June 20, 2013).
908:
839:Small Business Administration
495:Initial public offering (IPO)
1759:San Francisco Business Times
1661:San Francisco Business Times
806:The bank launched its first
7:
3687:United Prosperity (Defunct)
1717:Ari Levy (April 17, 2014).
891:
766:as well as a member of the
741:Loan performance statistics
655:
651:Peer-to-peer business model
109:; 18 years ago
10:
4022:
3162:"Radius Equipment Finance"
1290:"Prospectus - LendingClub"
825:LendingClub Bank provides
798:reimbursements worldwide.
478:. Kleiner Perkins partner
374:
29:
3947:
3927:
3906:
3899:
3799:
3778:
3771:
3751:
3725:
3718:
3701:Virgin Money US (Defunct)
3638:
3629:
2643:"Lending Club Prospectus"
1953:Levy, Ari (May 9, 2016).
1526:"Lending Club Statistics"
1101:"Lending Club Statistics"
723:social networking service
620:after the acquisition of
326:San Francisco, California
305:
293:
283:
264:
245:
226:
207:
186:
165:
155:
140:
121:
103:
93:
63:
53:
44:
2257:"About Us - Radius Bank"
794:devices and offers free
641:subprime mortgage crisis
389:Norwest Venture Partners
341:unsecured personal loans
30:Not to be confused with
3242:GlobeNewswire News Room
2547:The Wall Street Journal
2482:"Share and Share Alike"
2312:GlobeNewswire News Room
1992:The Wall Street Journal
1373:San Francisco Chronicle
569:The Wall Street Journal
561:The Wall Street Journal
523:Car loans and mortgages
278:US$ 1.25 billion (2023)
259:US$ 8.83 billion (2023)
240:US$ 38.9 million (2023)
221:US$ 54.6 million (2023)
40:LendingClub Corporation
3791:Zencap Global Services
3532:The Lending Club Story
579:In December 2017, the
519:
3867:RebuildingSociety.com
3504:EconomistInsights.com
3367:"Technology Pioneers"
594:In an interview with
514:
435:Union Square Ventures
412:Morgenthaler Ventures
3862:RateSetter (Defunct)
3807:Abundance Investment
3623:Peer-to-peer lending
3433:. CNBC. May 15, 2013
3404:on February 9, 2013.
3371:World Economic Forum
3068:. September 24, 2015
3042:. September 16, 2015
2282:"InstitutionHistory"
1046:. February 16, 2024.
1017:. November 30, 2011.
764:Equal Housing Lender
667:debt-to-income ratio
456:peer-to-peer lending
397:peer-to-peer lending
173:Peer-to-peer lending
3882:Wellesley & Co.
3678:Prosper Marketplace
2938:The Financial Brand
2838:The Financial Brand
2788:Nyceinfomanager.com
2763:www.lendingclub.com
2700:www.lendingclub.com
2521:"How Trading Works"
2509:. October 14, 2008.
2420:www.lendingclub.com
2154:. February 19, 2020
2080:on December 6, 2019
1846:Wall Street Journal
1787:Baptiste Su, Jean.
1394:Wall Street Journal
1297:www.lendingclub.com
851:equipment financing
285:Number of employees
41:
3295:. October 29, 2020
3269:. October 29, 2020
3193:. December 2, 2016
2720:Earn Solid Returns
2648:. October 15, 2010
2328:cite press release
2206:. January 11, 2021
2048:. December 7, 2017
1925:"A ripple of fear"
1904:The New York Times
1745:. August 27, 2014.
821:Commercial banking
691:capital gains rate
520:
424:Foundation Capital
365:Renaud Laplanche's
151:, California, U.S.
98:Financial services
39:
3963:
3962:
3943:
3942:
3895:
3894:
3767:
3766:
3759:Funding Societies
3714:
3713:
3696:Vittana (Defunct)
3539:978-1-48113-173-5
3321:on April 30, 2013
3293:Crowdfund Insider
2128:. October 7, 2020
1278:. August 4, 2008.
1179:on March 23, 2012
938:on March 18, 2021
903:Disintermediation
810:partnership with
458:company based in
319:
318:
145:595 Market Street
16:(Redirected from
4013:
3954:
3953:
3904:
3903:
3776:
3775:
3743:Qifang (Defunct)
3723:
3722:
3653:BTCJam (Defunct)
3643:
3642:
3616:
3609:
3602:
3593:
3592:
3556:
3555:
3553:Official website
3528:Renaud Laplanche
3515:
3514:
3512:
3510:
3496:
3490:
3489:
3487:
3485:
3471:
3465:
3464:
3462:
3460:
3449:
3443:
3442:
3440:
3438:
3427:
3421:
3412:
3406:
3405:
3388:
3382:
3381:
3379:
3377:
3363:
3357:
3356:
3354:
3352:
3347:on June 28, 2013
3337:
3331:
3330:
3328:
3326:
3311:
3305:
3304:
3302:
3300:
3285:
3279:
3278:
3276:
3274:
3259:
3253:
3252:
3250:
3248:
3234:
3228:
3227:
3225:
3223:
3209:
3203:
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3200:
3198:
3183:
3177:
3176:
3174:
3172:
3158:
3152:
3151:
3149:
3147:
3133:
3127:
3126:
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3122:
3108:
3099:
3098:
3096:
3094:
3084:
3078:
3077:
3075:
3073:
3058:
3052:
3051:
3049:
3047:
3032:
3026:
3025:
3023:
3021:
3007:
3001:
3000:
2998:
2996:
2982:
2976:
2975:
2973:
2971:
2956:
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2947:
2945:
2930:
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2919:
2905:
2899:
2898:
2897:
2895:
2881:
2875:
2874:
2872:
2870:
2856:
2850:
2849:
2847:
2845:
2830:
2824:
2823:
2821:
2819:
2805:
2799:
2798:
2796:
2794:
2780:
2774:
2773:
2771:
2769:
2755:
2749:
2748:
2746:
2744:
2729:
2723:
2717:
2711:
2710:
2708:
2706:
2692:
2686:
2685:
2683:
2681:
2664:
2658:
2657:
2655:
2653:
2647:
2639:
2633:
2632:
2618:
2612:
2611:
2609:
2607:
2602:on July 13, 2011
2601:
2594:
2585:
2579:
2578:
2576:
2574:
2564:
2558:
2557:
2555:
2553:
2538:
2532:
2531:
2529:
2527:
2517:
2511:
2510:
2503:
2497:
2496:
2494:
2492:
2477:
2471:
2470:
2468:
2466:
2459:"Rates and Fees"
2455:
2449:
2448:
2446:
2444:
2433:
2424:
2423:
2412:
2406:
2405:
2394:
2388:
2387:
2385:
2383:
2369:
2363:
2362:
2360:
2358:
2344:
2338:
2337:
2331:
2323:
2321:
2319:
2303:
2297:
2296:
2294:
2292:
2278:
2272:
2271:
2269:
2267:
2253:
2247:
2246:
2244:
2242:
2235:The Boston Globe
2225:
2216:
2215:
2213:
2211:
2196:
2190:
2189:
2187:
2185:
2170:
2164:
2163:
2161:
2159:
2144:
2138:
2137:
2135:
2133:
2122:
2116:
2115:
2113:
2111:
2106:. April 21, 2020
2096:
2090:
2089:
2087:
2085:
2073:Business Insider
2064:
2058:
2057:
2055:
2053:
2038:
2032:
2031:
2029:
2027:
2012:
2003:
2002:
2000:
1998:
1983:
1970:
1969:
1967:
1965:
1950:
1941:
1940:
1938:
1936:
1931:. March 23, 2016
1921:
1915:
1914:
1912:
1910:
1895:
1878:
1877:
1870:
1864:
1863:
1862:. June 16, 2015.
1856:
1850:
1849:
1837:
1831:
1830:
1828:
1826:
1810:
1804:
1803:
1801:
1799:
1784:
1778:
1777:
1770:
1764:
1763:
1753:
1747:
1746:
1733:
1727:
1726:
1714:
1708:
1707:
1694:
1688:
1679:
1673:
1672:
1670:
1668:
1651:
1645:
1644:
1642:
1640:
1623:
1617:
1616:
1614:
1612:
1597:
1588:
1587:
1585:
1583:
1566:
1560:
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1557:
1555:
1544:
1538:
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1535:
1533:
1522:
1511:
1510:
1508:
1506:
1495:
1486:
1485:
1483:
1481:
1464:
1458:
1457:
1455:
1453:
1438:
1432:
1431:
1429:
1427:
1412:
1406:
1405:
1403:
1401:
1384:
1378:
1377:
1363:
1357:
1356:
1354:
1352:
1335:
1329:
1328:
1326:
1324:
1307:
1301:
1300:
1294:
1286:
1280:
1279:
1272:
1266:
1265:
1254:
1248:
1247:
1239:
1233:
1232:
1221:
1215:
1214:
1212:
1210:
1195:
1189:
1188:
1186:
1184:
1175:. Archived from
1162:
1156:
1155:
1153:
1151:
1146:on March 8, 2012
1135:
1129:
1128:
1114:
1105:
1104:
1097:
1091:
1081:
1075:
1074:
1072:
1070:
1063:Business Insider
1054:
1048:
1047:
1036:
1019:
1018:
1005:
990:
989:
975:
969:
968:
954:
948:
947:
945:
943:
934:. Archived from
921:
882:Renaud Laplanche
778:Consumer banking
750:Banking services
596:Business Insider
501:small businesses
467:Renaud Laplanche
404:promissory notes
315:
312:
300:LendingClub Bank
279:
277:
276:
269:
260:
258:
257:
250:
241:
239:
238:
222:
220:
219:
210:Operating income
203:
201:
195:
194:
129:Renaud Laplanche
117:
115:
110:
49:
42:
38:
21:
4021:
4020:
4016:
4015:
4014:
4012:
4011:
4010:
3966:
3965:
3964:
3959:
3939:
3923:
3891:
3795:
3763:
3747:
3710:
3634:
3625:
3620:
3588:
3551:
3550:
3547:
3523:
3521:Further reading
3518:
3508:
3506:
3498:
3497:
3493:
3483:
3481:
3473:
3472:
3468:
3458:
3456:
3451:
3450:
3446:
3436:
3434:
3429:
3428:
3424:
3418:Fastcompany.com
3413:
3409:
3390:
3389:
3385:
3375:
3373:
3365:
3364:
3360:
3350:
3348:
3339:
3338:
3334:
3324:
3322:
3313:
3312:
3308:
3298:
3296:
3287:
3286:
3282:
3272:
3270:
3261:
3260:
3256:
3246:
3244:
3236:
3235:
3231:
3221:
3219:
3217:Equipmentfa.com
3211:
3210:
3206:
3196:
3194:
3191:Marketwired.com
3185:
3184:
3180:
3170:
3168:
3160:
3159:
3155:
3145:
3143:
3141:bizjournals.com
3135:
3134:
3130:
3120:
3118:
3116:American Banker
3110:
3109:
3102:
3092:
3090:
3086:
3085:
3081:
3071:
3069:
3066:Bank Innovation
3060:
3059:
3055:
3045:
3043:
3034:
3033:
3029:
3019:
3017:
3009:
3008:
3004:
2994:
2992:
2990:American Banker
2984:
2983:
2979:
2969:
2967:
2958:
2957:
2953:
2943:
2941:
2940:. July 26, 2016
2932:
2931:
2927:
2917:
2915:
2907:
2906:
2902:
2893:
2891:
2882:
2878:
2868:
2866:
2864:American Banker
2858:
2857:
2853:
2843:
2841:
2840:. July 26, 2016
2832:
2831:
2827:
2817:
2815:
2807:
2806:
2802:
2792:
2790:
2782:
2781:
2777:
2767:
2765:
2757:
2756:
2752:
2742:
2740:
2739:. June 20, 2013
2731:
2730:
2726:
2718:
2714:
2704:
2702:
2694:
2693:
2689:
2679:
2677:
2674:The Daily Beast
2665:
2661:
2651:
2649:
2645:
2641:
2640:
2636:
2619:
2615:
2605:
2603:
2599:
2592:
2586:
2582:
2572:
2570:
2566:
2565:
2561:
2551:
2549:
2539:
2535:
2525:
2523:
2519:
2518:
2514:
2505:
2504:
2500:
2490:
2488:
2478:
2474:
2464:
2462:
2457:
2456:
2452:
2442:
2440:
2435:
2434:
2427:
2414:
2413:
2409:
2404:. June 7, 2016.
2396:
2395:
2391:
2381:
2379:
2371:
2370:
2366:
2356:
2354:
2346:
2345:
2341:
2325:
2324:
2317:
2315:
2314:(Press release)
2304:
2300:
2290:
2288:
2280:
2279:
2275:
2265:
2263:
2255:
2254:
2250:
2240:
2238:
2226:
2219:
2209:
2207:
2198:
2197:
2193:
2183:
2181:
2171:
2167:
2157:
2155:
2146:
2145:
2141:
2131:
2129:
2124:
2123:
2119:
2109:
2107:
2098:
2097:
2093:
2083:
2081:
2066:
2065:
2061:
2051:
2049:
2040:
2039:
2035:
2025:
2023:
2021:Financial Times
2013:
2006:
1996:
1994:
1984:
1973:
1963:
1961:
1951:
1944:
1934:
1932:
1923:
1922:
1918:
1908:
1906:
1896:
1881:
1872:
1871:
1867:
1858:
1857:
1853:
1838:
1834:
1824:
1822:
1811:
1807:
1797:
1795:
1785:
1781:
1772:
1771:
1767:
1754:
1750:
1735:
1734:
1730:
1715:
1711:
1695:
1691:
1680:
1676:
1666:
1664:
1652:
1648:
1638:
1636:
1624:
1620:
1610:
1608:
1598:
1591:
1581:
1579:
1567:
1563:
1553:
1551:
1546:
1545:
1541:
1531:
1529:
1524:
1523:
1514:
1504:
1502:
1497:
1496:
1489:
1479:
1477:
1474:Washington Post
1465:
1461:
1451:
1449:
1439:
1435:
1425:
1423:
1413:
1409:
1399:
1397:
1385:
1381:
1364:
1360:
1350:
1348:
1336:
1332:
1322:
1320:
1308:
1304:
1292:
1288:
1287:
1283:
1274:
1273:
1269:
1256:
1255:
1251:
1240:
1236:
1223:
1222:
1218:
1208:
1206:
1205:on May 17, 2008
1197:
1196:
1192:
1182:
1180:
1163:
1159:
1149:
1147:
1136:
1132:
1115:
1108:
1103:. Lending Club.
1099:
1098:
1094:
1082:
1078:
1068:
1066:
1055:
1051:
1038:
1037:
1022:
1007:
1006:
993:
976:
972:
955:
951:
941:
939:
931:Financial Times
922:
915:
911:
894:
868:
859:
823:
804:
780:
752:
743:
719:
699:
686:origination fee
658:
653:
633:
592:
582:Financial Times
538:
527:Laplanche told
525:
516:Stevenson Place
497:
431:venture capital
420:
393:Canaan Partners
377:
309:
286:
272:
265:
253:
246:
234:
231:
215:
212:
196:
190:
182:
158:
147:
136:
113:
111:
108:
89:
68:
35:
28:
23:
22:
15:
12:
11:
5:
4019:
4009:
4008:
4003:
3998:
3993:
3988:
3983:
3978:
3961:
3960:
3948:
3945:
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3859:
3854:
3849:
3844:
3842:LandlordInvest
3839:
3834:
3832:Funding Circle
3829:
3824:
3819:
3814:
3812:Assetz Capital
3809:
3803:
3801:
3797:
3796:
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3788:
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3566:
3560:
3557:
3546:
3545:External links
3543:
3542:
3541:
3526:Peter Renton,
3522:
3519:
3517:
3516:
3491:
3475:"Lending Club"
3466:
3453:"Lending Club"
3444:
3431:"Lending Club"
3422:
3407:
3383:
3358:
3332:
3306:
3280:
3254:
3229:
3204:
3178:
3166:Radiusbank.com
3153:
3128:
3100:
3079:
3053:
3027:
3015:Radiusbank.com
3002:
2977:
2966:. May 15, 2017
2951:
2925:
2900:
2876:
2851:
2825:
2813:Radiusbank.com
2800:
2775:
2750:
2737:Bloomberg News
2724:
2712:
2687:
2659:
2634:
2613:
2580:
2568:"How It Works"
2559:
2533:
2512:
2498:
2472:
2461:. Lending Club
2450:
2439:. Lending Club
2425:
2407:
2389:
2364:
2352:laborpress.org
2339:
2298:
2273:
2261:Radiusbank.com
2248:
2217:
2191:
2165:
2139:
2117:
2091:
2059:
2033:
2004:
1971:
1942:
1916:
1879:
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1832:
1805:
1779:
1765:
1748:
1728:
1723:Bloomberg News
1709:
1689:
1674:
1646:
1618:
1606:Bloomberg News
1589:
1561:
1539:
1528:. Lending Club
1512:
1487:
1459:
1433:
1407:
1379:
1358:
1340:"Lending Club"
1330:
1302:
1281:
1267:
1249:
1234:
1216:
1199:"Quiet Period"
1190:
1157:
1130:
1106:
1092:
1076:
1049:
1020:
991:
970:
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910:
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822:
819:
803:
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779:
776:
751:
748:
742:
739:
718:
715:
698:
697:Loan ownership
695:
657:
654:
652:
649:
632:
629:
591:
588:
555:New York Times
537:
534:
524:
521:
496:
493:
488:Google Capital
419:
418:Pre-IPO growth
416:
376:
373:
353:Salt Lake City
317:
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3857:Lending Works
3855:
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3646:United States
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3505:
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3480:
3476:
3470:
3459:September 10,
3454:
3448:
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3258:
3247:September 26,
3243:
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3222:September 26,
3218:
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3208:
3192:
3188:
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3171:September 26,
3167:
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3121:September 26,
3117:
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3107:
3105:
3093:September 26,
3089:
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3072:September 26,
3067:
3063:
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3046:September 26,
3041:
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3020:September 26,
3016:
3012:
3006:
2995:September 26,
2991:
2987:
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2965:
2961:
2955:
2944:September 26,
2939:
2935:
2929:
2918:September 26,
2914:
2910:
2904:
2894:September 26,
2890:, Radius Bank
2889:
2888:
2887:Radius Mobile
2880:
2869:September 26,
2865:
2861:
2855:
2839:
2835:
2829:
2818:September 26,
2814:
2810:
2804:
2793:September 26,
2789:
2785:
2784:"ATM Locator"
2779:
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2382:September 26,
2378:
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2368:
2357:September 26,
2353:
2349:
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2335:
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2313:
2309:
2302:
2291:September 26,
2287:
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2266:September 26,
2262:
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1980:
1978:
1976:
1960:
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1949:
1947:
1930:
1929:The Economist
1926:
1920:
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1819:Bloomberg.com
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1452:September 15,
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886:The Economist
883:
879:
874:
863:
854:
852:
848:
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840:
836:
835:middle market
833:to small and
832:
829:services and
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664:
648:
647:regulations.
646:
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492:
489:
486:In May 2013,
484:
481:
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453:
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149:San Francisco
146:
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3852:LendingCrowd
3667:
3531:
3507:. Retrieved
3503:
3494:
3482:. Retrieved
3478:
3469:
3457:. Retrieved
3447:
3435:. Retrieved
3425:
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3402:the original
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3361:
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3345:the original
3335:
3323:. Retrieved
3319:the original
3309:
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3082:
3070:. Retrieved
3065:
3056:
3044:. Retrieved
3039:
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3018:. Retrieved
3014:
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2993:. Retrieved
2989:
2980:
2968:. Retrieved
2964:Tearsheet.co
2963:
2954:
2942:. Retrieved
2937:
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2916:. Retrieved
2912:
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2892:, retrieved
2886:
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2867:. Retrieved
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2727:
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2699:
2690:
2678:. Retrieved
2672:
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2650:. Retrieved
2637:
2628:Businessweek
2626:
2616:
2606:December 12,
2604:. Retrieved
2597:the original
2583:
2573:December 28,
2571:. Retrieved
2562:
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2546:
2536:
2524:. Retrieved
2515:
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2311:
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2264:. Retrieved
2260:
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2239:. Retrieved
2233:
2208:. Retrieved
2204:tearsheet.co
2203:
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2182:. Retrieved
2178:
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2151:
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2130:. Retrieved
2120:
2108:. Retrieved
2103:
2094:
2084:December 16,
2082:. Retrieved
2078:the original
2071:
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2052:December 11,
2050:. Retrieved
2045:
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2026:December 11,
2024:. Retrieved
2020:
1995:. Retrieved
1991:
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1958:
1933:. Retrieved
1928:
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1907:. Retrieved
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1818:
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1580:. Retrieved
1574:
1564:
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1542:
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1503:. Retrieved
1478:. Retrieved
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1462:
1450:. Retrieved
1446:
1436:
1424:. Retrieved
1410:
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1343:
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1321:. Retrieved
1315:
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1207:. Retrieved
1203:the original
1193:
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1177:the original
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1160:
1148:. Retrieved
1144:the original
1133:
1122:
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1079:
1067:. Retrieved
1062:
1052:
1012:
983:
973:
962:
952:
940:. Retrieved
936:the original
929:
873:Fast Company
869:
860:
824:
816:
805:
802:Partnerships
781:
753:
744:
736:
728:
720:
708:
704:
700:
682:
678:
675:
663:credit score
659:
638:
634:
626:
615:
608:
601:
593:
580:
578:
568:
566:
559:
553:
551:
543:
539:
528:
526:
498:
485:
476:John J. Mack
464:
452:Dianrong.com
444:Redwood City
428:
421:
401:
378:
369:
357:
346:
338:
321:
320:
295:Subsidiaries
289:1,025 (2023)
267:Total equity
248:Total assets
141:Headquarters
84:Russell 2000
54:Company type
36:
18:Lending Club
3928:New Zealand
3668:LendingClub
3658:Cross River
3579:SEC filings
3299:November 5,
3273:November 5,
3197:November 6,
3146:November 6,
3040:Prosper.com
2970:November 6,
2844:November 6,
2402:Marketwired
2241:November 6,
2132:October 12,
1821:. Bloomberg
1639:January 30,
1633:Tech Crunch
1576:Tech Crunch
1345:Tech Crunch
1317:Tech Crunch
1262:www.sec.gov
1229:www.sec.gov
1172:Tech Crunch
1085:Peer review
1083:Schumpeter
1069:January 25,
866:Recognition
857:API Banking
717:Credit risk
711:hedge funds
622:Radius Bank
480:Mary Meeker
322:LendingClub
311:lendingclub
200:865 million
32:LendingTree
3970:Categories
3914:SocietyOne
3847:LendInvest
2768:October 6,
2318:October 4,
2210:October 4,
1737:"Form S-1"
1351:August 15,
909:References
827:depository
756:Lehi, Utah
732:FICO score
645:Dodd Frank
606:pandemic.
330:securities
229:Net income
157:Key people
133:Soul Htite
3907:Australia
3827:Folk2Folk
3817:BondMason
3752:Singapore
3632:Companies
3564:Bloomberg
3509:March 15,
3484:March 15,
2913:App Store
2705:March 27,
2465:April 16,
2286:Ffiec.gov
2184:April 23,
1825:April 23,
1532:April 16,
843:northeast
831:financing
774:network.
547:Jefferies
450:to start
440:Sunnyvale
399:company.
332:with the
86:component
66:Traded as
3956:Category
3935:Harmoney
3877:Unbolted
3872:ThinCats
3733:Dianrong
3673:Peerform
3639:Americas
3530:(2012),
3437:June 27,
3351:June 27,
3325:June 27,
2743:June 27,
2652:March 1,
2486:CBS News
2158:March 2,
1798:April 2,
1667:June 27,
1505:April 2,
1480:April 4,
1426:June 27,
1209:April 8,
1183:April 5,
1150:April 1,
892:See also
656:Overview
604:COVID-19
460:Shanghai
385:Series A
381:Facebook
166:Services
122:Founders
94:Industry
3900:Oceania
3837:Landbay
3786:Lendico
3779:Germany
3706:Zidisha
3691:Upstart
3574:Reuters
3479:Inc.com
3376:May 17,
2680:May 28,
2552:May 11,
2526:May 28,
2491:May 28,
2443:May 18,
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