Archives

August 2, 2017 @ 3:16 pm By JD Alois  |  

This should come as no surprise. IEG Holdings (OTCQB: IEGH) has decided not to proceed with a previously announced Tender Offer for shares of marketplace lender LendingClub (NYSE:LC). Ostensible, the offer was to exchange four shares of IEG Holdings for each share of common stock in Lending… Read More

July 7, 2017 @ 4:47 pm By JD Alois  |  

Below is the copy of the letter Paul Mathieson, the CEO of IEG, sent to Scott Sanborn, CEO of LendingClub, and the LendingClub Board of Directors. In the letter, Mathieson declares his intent to commence a tender offer for up to 9.99% of LendingClub (NYSE:LC)… Read More

July 7, 2017 @ 4:22 pm By JD Alois  |  

LendingClub (NYSE: LC) has announced that on June 29, 2017, its Board of Directors received a letter from IEG Holdings Corporation (IEG) stating its intention to acquire up to 9.99% of the outstanding common stock of LendingClub on the basis of two shares of IEG common stock… Read More

July 5, 2017 @ 5:12 pm By JD Alois  |  

LendingClub (NYSE: LC), the leading marketplace lending platform in the US, has added Kenneth Denman to its Board of Directors. LendingClub states the appointment took effect on June 28, 2017. Denman joins as a Class One director and will serve on the Audit and Compensation… Read More

June 22, 2017 @ 6:09 pm By JD Alois  |  

LendingClub (NYSE:LC) has announced its first first self sponsored securitization deal had closed. Announced after the market closed, Lending Club issued $279.4 million in notes backed by consumer loans originated on the LendingClub platform. The Consumer Loan Underlying Bond (CLUB) NP Credit Trust 2017-NP1 (CLUB… Read More

June 9, 2017 @ 4:29 pm By JD Alois  |  

Lending Club (NYSE:LC) has filed an 8-K with the results of the Annual Meeting including the election of Directors. Present at the Annual Meeting in person or by proxy were holders of 313,460,225 shares of common stock, representing 77.7% of the shares of common stock… Read More

May 16, 2017 @ 8:33 am By JD Alois  |  

LendingClub (NYSE: LC), the largest marketplace lending platform in the US, has announced the appointment of Steve Allocca as President of the online lending company. Allocca will start at LendingClub on May 22, 2017 and will report directly to LendingClub CEO Scott Sanborn. Allocca will… Read More

May 4, 2017 @ 8:49 pm By JD Alois  |  

Lending Club (NYSE:LC), the largest marketplace lending platform in the US, released quarterly earnings results today. Originations declined dramatically from the same quarter in 2016. Originations also dipped versus Q4. Obviously the online lender would prefer to report the exact opposite. While the results were… Read More

May 4, 2017 @ 4:19 pm By JD Alois  |  

Marketplace lending platform Lending Club (NYSE:LC), announced Q1 2017 results showing a decline in originations versus Q4 and same quarter year prior. Lending Club has now topped $26 billion in loan originations since platform launch ten years ago. Lending Club is the largest personal loan… Read More

April 24, 2017 @ 5:55 pm By JD Alois  |  

Lending Club (NYSE:LC) has scheduled its annual shareholders meeting for June 6, 2017.  Stockholders must own shares as of close of business on April 10, 2017 to be able to participate in the virtual event. The agenda for the meeting is expected to be largely… Read More

April 13, 2017 @ 5:44 pm By JD Alois  |  

Lending Club (NYSE:LC), the largest marketplace lending platform in the US, has scheduled its Q1 2017 earnings call for Thursday, May 4, 2017. Earnings will be released that day after market close. Lending Club will host a conference call to discuss the first quarter financial… Read More

April 13, 2017 @ 2:52 pm By JD Alois  |  

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… Read More

March 3, 2017 @ 11:25 am By JD Alois  |  

Lending Club (NYSE:LC) has was a significant court victory regarding its ability to compel arbitration. The case Bethune v. LendingClub Corp. was filed in the Souther District Court of New York in 2016. The issue pertained to the interest rate a New York resident was being charged… Read More

August 18, 2015 @ 11:03 am By Erin Hobey  |  

Mindbody, Inc. (NASDAQ:MB), a leading provider of cloud-based business management software for the wellness services industry, has partnered with Lending Club, the world’s largest online credit marketplace connecting borrowers and investors. “As a business that started in a garage, the team at Mindbody understands that… Read More

August 18, 2014 @ 8:41 am By JD Alois  |  

LendingTree, an online lending exchange that aggregates loan options from many providers, has announced their loan revenue exceeded $1 million during the month of July.  The company also shared their growth has increased seven fold since July of 2013.  This significant growth in both volume… Read More

December 5, 2013 @ 10:04 am By Charles Luzar  |  

Using a service like LendingClub for the first time can be a big daunting. The peer-to-peer lending platform can offer interest rates lower than many credit cards for some borrowers. Having said that, where do you start? How hard is it to apply for and… Read More

June 2, 2013 @ 11:17 am By The Economist  |  

FINANCE is seldom romantic. But the idea of peer-to-peer lending comes close. This is an industry that brings together individual savers and lenders on online platforms. Those that want to borrow are matched with those that want to lend. Banks and credit-card firms are kept… Read More

May 16, 2013 @ 9:00 am By JD Alois  |  

All this week CNBC will be sharing their list of 50 disruptors.  Crowdfunding platforms CircleUp, LendingClub and Kickstarter have made the list of a new companies which are shaking up their sector – financial services.  LendingClub has recently hit front page headlines with the $125… Read More

May 12, 2013 @ 6:04 pm By SeekingAlpha  |  

Since 2006, P2P & online lending have enjoyed explosive growth. Lending Club and Prosper, America’s two largest P2P lenders have now surpassed $2B in loan origination, and P2P has captured the attention of industry legends, the financial media, the investing public and even today’s technology… Read More

May 6, 2013 @ 8:23 am By Charles Luzar  |  

Google’s stake in Lending Club could signal future dominance of P2P and P2B lending in the crowdfunding space.