Tagged: scott sanborn

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

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 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

LendingClub Closes $279.4 Million Self Sponsored Securitization

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

LendingClub Files Presentation in Advance of Annual Shareholders Meeting

LendingClub (NYSE:LC) has filed a new form with the SEC (DEF 14A) in advance of the annual shareholders meeting which is scheduled to take place on June 6, 2017. The addition to the Annual Meeting Proxy Statement, a standard filing, includes a presentation on the… Read More

LendingClub Appoints Former PayPal Exec Steve Allocca as President

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

LendingClub Q1 Results: Loan Originations Decline vs. Q4 & Same Quarter Year Prior

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

Lending Club Schedules Annual Shareholders Meeting for June 6, 2017

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

LendingClub Schedules Q1 Earnings Call for May 4th

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

Seen & Heard at LendItUSA 2017: An Industry Built to Last

LendItUSA, the annual event that jumps between New York City and San Francisco everu 12 months, opened up to larger audiences and an industry sector that endured a challenging year. The online lending sector received a two-punch assault in 2016; a battle that left the… Read More

Lending Club Reports Q4 & Full Year Results as Originations Dip: “We Are Entering 2017 in a Stronger Position”

Lending Club (NYSE:LC), the largest marketplace lending platform in the US, has reported Q4 results alongside full year numbers. Loan originations in Q4 of 2016 were $1.99 billion, up 1% compared to the $1.97 billion reported in Q3 of 2016 and down 23% compared to $2.58 billion in the… Read More

Here is Lending Club’s Q3 Earnings Deck

Scott Sanborn, CEO of Lending Club (NYSE:LC) delivered an upbeat report on Q3 results today sharing on the earnings call that progress was moving forward ahead of expectations.  Sanborn said investors invenctives were removed and many institutional investors had returned to the fold. Lending Club… Read More

Lending Club Announces Q3 Results. Originations Down from Year Prior but Beats Expectations

Lending Club (NYSE:LC),the largest  marketplace lending platform in the US, is out with Q3 results.  Lending Club reported a net loss of $36.5 million for the Q3 of 2016, an improvement vs. the net loss of $81.4 million reported in Q2 of 2016. Meanwhile originations… Read More

Lending Club Receives $1.3 Billion Commitment from National Bank of Canada

Lending Club (NYSE:LC) has announced a significant partnership with the National Bank of Canada and its US subsidiary Credigy.  The agreement calls for Credigy, a firm that specializeds in consumer finance investment,  to invest up to $1.3 billion over the next 12 months. Scott Sanborn,… Read More

Lending Club Gets into Auto Loans with New Refinancing Product

Lending Club (NYSE:LC) has entered a new credit vertical with the launch of an auto loan refinancing product. The marketplace lending platform pointed to the fact that for most consumers an auto purchase is their second largest following their home. Initially only residents of California will… Read More

New GC takes Helm at Lending Club

Lending Club (NYSE:LC) has been on a steady pace rebuilding its executive bench.  Today, the largest marketplace lending platform in the US has announced a new General Counsel. Russell Elmer has been named as the new GC replacing Jason Altieri who has been Lending Club’s… Read More

Lending Club Appoints Thomas Casey as CFO

Lending Club (NYSE:LC), the leading marketplace lending platform in the US, has announced the appointment of Thomas Casey as their new Chief Financial Officer. The hiring comes after long-time executive Carrie Dolan announced her departure several weeks back.  Lending Club described Dolan’s departure as a long… Read More

Lending Club Hires former BlackRock & Morgan Stanley Executives

As part of the rebuilding process Lending Club (NYSE:LC) is seeking out new hires with traditional Wall Street cred.  Today the leading marketplace lending firm has hired not one, but two former Wall Street bankers. Lending Club has appointed Valerie Kay, formerly an MD with Morgan… Read More

Here is the Q2 Earnings Deck for Lending Club

Lending Club (NYSE:LC) announced earnings yesterday. The Q2 numbers were over-shadowed by the “resignation” of Carrie Dolan, the longtime CFO of Lending Club who joined the company when there were just 40 companies. During the conference call, Lending Club CEO Scott Sanborn stated that Dolan… Read More

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