Lending Club
| Lending Club
|
|
|---|---|
 |
|
| legal form | Corporation |
| ISIN | US52603A1097 |
| founding | 2006 |
| Seat |
San Francisco 
|
| Website | www.lendingclub.com |
Lending Club is a US company founded in 2006 and based in San Francisco . The company arranges peer-to-peer loans over the Internet and in 2013 was the largest peer-to-peer lending platform in the world.
Business model
Lending Club operates an online platform for arranging peer-to-peer loans. Individual private individuals contribute amounts of money they choose, which are combined into a loan that is extended to a borrower chosen by them. Borrowers often include people with poor credit ratings who have not received or would not receive a loan from the banks. The borrower's loan is accordingly financed by a large number of private investors, who then receive their contributed loan amounts back, including mostly above-average interest. On the other hand, there is also the risk of complete default by the borrower for investors. Lending Club itself charges a placement fee from the borrower and an investment fee from the investors.
Lending Club is the market leader in the USA (2015) with a loan volume brokered totaling over 9 billion US dollars .
Lending Club was named one of Forbes Magazine's Top 25 Most Promising Companies in early 2014 .
See also
Individual evidence
- ^ The Economist. 5th January 2013.
- ↑ Homepage, figures as of March 31, 2015: About Us
- ↑ America's most promising companies: The Top 25 of 2014. In: Forbes Magazine.