Tagged: lendingclub

LendingClub Q3 Results: Highest Revenue in the Company’s History of $154.0 million

LendingClub (NYSE:LC), the largest marketplace lending platform in the United States, has published Q3 2017 financial results. The company delivered the best revenue in LendingClub’s history generating $154 million in top line revenue, an increase of 34% versus year prior and 10% over Q2 2017…. Read More

LendingClub Announces Asset Management Business Rebranding

LendingClub announced this week it has rebranded asset management business, LC Advisors, to LendingClub Asset Management (LCAM), which is described as a firm that aims to deliver efficient access to the consumer credit asset class for institutional and high-net-worth investors. The online lender stated the rebranding… Read More

LendingClub Lawsuit Sees Judge OK Class Certification (Document)

A law suite between investors and LendingClub (NYSE:LC) received the green light to proceed as a class action from US District Judge William Alsup in California last week. The case stems from investors who purchased shares in the online lender only to see the value… Read More

LendingClub Adds Warehouse Credit Agreement to Finance Loans

LendingClub (NYSE:LC) has filed an 8K with the Securities and Exchange Commission indicating it has entered into a Warehouse Credit Agreement on October 10th with “certain lenders.” In connection with the Warehouse Agreement, “LendingClub Warehouse” also entered into a Security Agreement with the Administrative Agent… Read More

LendingClub Q3 Earnings Report Scheduled for November 7th

  LendingClub (NYSE:LC), the largest marketplace lending platform in the US, has scheduled its quarterly earnings report for November 7th, at 5PM ET (2PM PT). A live webcast of LendingClub’s call will be available at the Investor Relations portion of the LendingClub websit under the… Read More

LendingClub Completes 2nd Self Sponsored Loan Securitization with $323 Million Deal

LendingClub (NYSE: LC) has sponsored and contributed to its second securitization deal following the the last successful self sponsored deal this past June. The “Consumer Loan Underlying Bond” (CLUB) Credit Trust 2017-P1 (CLUB 2017-P1) issued $323.1 million in prime notes backed by consumer loan assets originated via… Read More

Renaud LaPlanche, former CEO of LendingClub & Current CEO of Online Lender Upgrade, to Keynote LendIt Europe

Renaud Laplanche, an icon of the online lending industry, has been added as a keynote speaker to the roster of headliners at the forthcoming LendIt Europe event taking place this October. Laplanche founded LendingClub in 2006 as a peer to peer lending platform designed to… Read More

LendingClub Schedules Investor Day in NYC, Live Audio will be Available

LendingClub (NYSE: LC), the largest marketplace lending platform in the US, has scheduled an investor day in New York City. The event, which is by invitation only, will take place on Thursday, December 7, 2017. CEO Scott Sanborn and other executives from the LendingClub management team will provide… Read More

LendingClub Hit with Lawsuit

LendingClub (NYSE:LC) has been hit with a lawsuit that names former CEO Renaud Laplanche alongside current and former board members and former CFO Carrie Dolan. The complaint, filed in the Court of Chancery in Delaware, states; “Throughout the period December 11, 2014 and continuing through… Read More

RiverNorth: Executing on Providing Income for Investors in Marketplace Lending Loans

RiverNorth is out with an encouraging note on its fund that invests in marketplace lending platform loans. As of the end of July 2017, RiverNorth’s portfolio consisted of 10,173 loans, with an average loan size of $10,176. The RiverNorth Marketplace Lending (NASDAQ:RMPLX) is designed to provide… Read More

LendingClub CIO: Delinquencies Decline as Marketplace Lending Model Continues to Improve

LendingClub‘s (NYSE:LC) CIO has posted an update on the online lenders performance including some perspective into the LendingClub model. The executive explains that part of the power of the marketplace lending model is the iterative nature of the loan making process. Over time, data generated… Read More

Positive Report from LendingClub as Sentiment Improves for Online Lender (Q2 Deck)

LendingClub (NYSE:LC) held their Q2 earnings call today and it was by far the most positive report delivered in multiple quarters.  Growth has returned to the marketplace lending club as originations rose in Q2 as did top line revenue. LendingClub upped guidance for Q3 and… Read More

LendingClub Reports Q2 Revenue Growth, Raises 2017 Outlook

LendingClub (NYSE:LC) is out with Q2 numbers and the marketplace lending platform is showing a top line increase for the quarter and for the first half of the year. Loan originations in Q2 increased versus same quarter year prior as well. During Q2 top line… Read More

IEG Holdings Bails on “Misleading” Tender Offer for LendingClub

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

LendingClub Expands Partnership With Opportunity Fund to Provide Underserved Small Businesses With Access to More Loans

Earlier this month, leading peer-to-peer lender Lending Club announced it has expanded its partnership with Opportunity Fund to provide underserved small businesses with access to loans they need in order to grow. Lending Club revealed: “Access to credit has long been a challenge for small businesses,… Read More

LendingClub Schedules Q2 Earnings Release for August 7th

LendingClub (NYSE:LC), an online marketplace connecting borrowers and lenders, has announced that it will report second quarter earnings, which ended on June 30, after the bell on Monday, August 7, 2017. LendingClub will host a conference call to discuss the Q2 results at at 2:00PM… Read More

Here is the Letter IEG Holdings Sent to LendingClub Board Announcing its “Tender Offer”

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

LendingClub Tells Investors to Ignore IEG Holdings Offer to Purchase LC Shares, Calls Offer Misleading

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

LendingClub Adds Ken Denman, Venture Partner at Sway Ventures, to Board of Directors

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

Online Lender LendUp Receives Strategic Investment From PayPal & Appoints Former CFO of LendingClub As Board Advisor

LendUp, a socially responsible online lender on a mission to redefine financial services for the emerging middle class, announced on Thursday it received a strategic undisclosed sum investment from PayPal.  While sharing details about the investment, Sasha Orloff, LendUp co-founder and CEO, stated: “PayPal has… Read More