Search Results for: lending club

Lending Club Files 8K Updating on Rates & Loan Loss Projections

The largest marketplace lending platform in the US, Lending Club (NYSE:LC), has filed an 8-K with the SEC notifying interested parties that both interest rates and loss projections are being updated. According to the document, as of today (April 20, 2016) loan loss projections are… Read More

Lending Club Expands Access to Investors by Working with Millennium Trust

Millennium Trust Company is a custody solution for IRAs, private funds and alternative assets with over 432,000 individual accounts and $17.4  billion in assets under custody. Lending Club is the largest marketplace lender in the US that offers individual investors the opportunity to generate respectable… Read More

Lending Club Reacts to Concerns Over Madden vs. Midland Decision

Lending Club (NYSE: LC), the largest marketplace lending platform in the United States, has altered operations in light of concerns over the Madden vs. Midland decision delivered by the Second Circuit Court of Appeals in May last year. This court case has cast a bit of… Read More

Lending Club: Zero to $16 Billion (Infographic)

Lending Club announced financial results for 2015 this morning. The numbers came in ahead of analyst expectations and, even better, CEO Renaud Laplanche, predicted that earnings will be even better in coming quarters as he boosted the company’s forecast. As part of the announcement, Lending Club… Read More

Lending Club Reports Operating Revenue of $427 Million. Will Start Share Buyback Program in the Amount of $150 Million

The leading marketplace lending platform in the US Lending Club (NYSE:LC) reported Q4 and 2015 full year results this morning.  The company also reported that, to date, it has facilitated over $16 billion in consumer and SME loans.  Lending Club also revealed its intent to… Read More

Lending Club Files 8-K to Clarify Blog Post as Earnings Near

As part of a “credit performance update”, Lending Club has published an 8-K with the SEC regarding a blog post that was published on February 7th that was “subsequently misinterpreted”. Lending Club has now attempted to better explain its message. According to the 8-K from… Read More

Brief: J. P. Morgan Chase Agrees to Aquire Nearly $1B Personal Loans Arranged by Lending Club

J.P. Morgan Chase & Co. has agreed to acquire nearly $1 billion worth of personal loans arranged by LendingClub Corp., people familiar with the deal reported Nasdaq’s Telis Demos. The portfolio, worth just over $900 million and comprising loans made to consumers with an average FICO… Read More

Lending Club to Announce Q4 Results on February 11th Before Market Open

Lending Club (NYSE: LC), the largest marketplace lending platform in the United States, has scheduled its Q4 earnings release for Thursday, February 11th prior to market open.  Lending Club will hold a conference call to discuss results with analysts at 8:30 AM ET the same… Read More

Retail Investors in New Jersey & Oregon May Now Invest in Lending Club Loans

The national roll-out continues for Lending Club (NYSE: LC) as it adds Oregon and New Jersey to the list of states where investors may lend to borrowers. Lending Club must be approved by each state to allow investor participation.  As of today, Lending Club is open… Read More

Lending Club Unveils More Details About U.S. Small Business Financing (Infographic)

Lending Club (NYSE: LC), the largest marketplace lending platform in the U.S., recently released a new infographic that shares details about small business financing. The platform revealed that out of 28 million U.S. small businesses 44% of owners want financing but can’t get the right… Read More

Lending Club Raises Interest Rates by 0.25% Matching Fed

Following the move by the Federal Reserve, Lending Club (NYSE: LC) has announced it will increase interest rates by 0.25% thus matching the move by the Fed last week.  The announcement is not unexpected and is similar to what many major banks have announced.  Lending… Read More

Brief: BorrowersFirst Names Former Lending Club’s SVP Zhi Zhou Chief Risk Officer

On Wednesday, marketplace lending platform BorrowersFirst announced the appointment of Lending Club’s former SVP, Zhi Zhou, as Chief Risk Officer and Head of Enterprise Analytics. Dave Tomlinson, BorrowersFirst’s CEO, stated: “Zhi is an accomplished and well respected leader who has been at the forefront of the marketplace… Read More

Lending Club Adds DC, Michigan, Kentucky & Alabama to List of States Open to Retail Investors

Lending Club (NYSE:LC) has added three more states, along with the Disrict of Columbia, to the list of states that retail investors may now invest in Lending Club loans.  Michigan, Kentucky and Alabama bring the number of states to 41 (plus DC). Previously only accredited… Read More

Lending Club CEO Renaud Laplanche Comments on Santander Exiting the Purchase of Loans

Lending Club (NYSE:LC) CEO Renaud Laplanche recently commented on the fact that Santander has been compelled to back off from purchasing Lending Club loans – for now.  Laplanche spoke to the FT about the status of the marketplace lending platform and gave an update on industry… Read More

Growing Up: Lending Club Has Been Tested, Survived & is Getting Bigger

  It has been almost a year and a half since my last visit to Lending Club and my last interview with Renaud Laplanche its CEO. A lot has changed since then, but even more has stayed the same. Lending Club is now a public… Read More

Lending Club Tops $13 Billion (Infographic)

Last week, Lending Club (LC:NYSE) announced that it has surpassed $13 billion from borrowers since its launch in 2006. Lending Club is the “world’s largest online marketplace.” The platform connects borrowers with investors in a streamlined, low friction process that have seen growing acceptance by consumers. The company… Read More

CEO Renaud Laplanche Discusses Lending Club Earnings Beat (Video)

Lending Club founder and CEO spoke to CNBC earlier today about the most recent quarterly results which were released yesterday. The largest US marketplace lending platform beat streat expectations  reporting an EPS of $0.04 versus expectations of $0.02. Lending Club also boosted expectations for the… Read More

Lending Club Reports Q3 Results. Loan Originations Jump 92% Year-over-Year

Lending Club (NYSE: LC), the largest marketplace lending platform in the US, has announced Q3 results.  For the quarter ending September 39th, the online lending platform stated that loan originations jumped from $2.24 billion versus $1.17 billion in same quarter year prior.  Operating revenue came… Read More

Building Business: Lending Club Grows SME Finance Vertical with New Line of Credit Product

Lending Club (NYSE:LC) is pushing further into the small business lending sector.  The largest marketplace lending platform in the US, has announced a new “multi-draw line of credit product” designed to give SMEs convenient, flexible and affordable credit.  Lending Club has built is online lending… Read More

Lending Club Now Open to Investors in Three More States

Lending Club (NYSE: LC) is now available to investors in Missouri, South Carolina, and Tennessee, bringing the total number of states available to retail investors to 39. Lending Club, the largest marketplace lending platform in the US, allows anyone to invest in loans with as… Read More

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