LendingClub (NYSE:LC) has not only provided a new option to gain access to credit for both consumers and small business but it has helped to create a new asset class by allowing smaller investors an option to invest in small loans. Today a majority of Lending Club investors are big institutions, banks, and hedge funds, but there is still an important role for the small guy to invest. To help facilitate this, Lending Club has released an iOS app – LendingClub Invest.
LendingClub explains they went straight to active investors to learn what they would want to see in a smartphone app. After receiving the feedback, LendingClub focused on what these users wanted: an App where investors can check on account summaries while investing in loans all on your phone.
As for Android users, no worries. An app for the other side of the aisle is expected to be released soon.
If you are interested, you can download the LendingClub Invest from the Apple App Store here.