Finovate Demo Video Archives

Presenter Profile:

How they describe themselves: Lending Club is a social lending network where members can borrow among themselves at better rates. Borrowers with good credit can get personal loans at interest rates they find more attractive than those available from conventional funding sources such as banks and credit cards, taking advantage of a streamlined process between the source of funds (lenders) and the borrowers who need those funds. Lenders get an opportunity to fund specific borrowers by investing in notes that correspond to specific borrower loans. The stated interest rates on notes range from 7.37% to 19.36%. Lenders pay Lending Club a 1% service charge.

What they think makes them better: Lending Club is the only social lending / person-to- person lending company to offer lenders an opportunity to invest in instruments that are registered with the US Securities and Exchange Commission and benefit from the disclosures associated with registered securities. The SEC registration also enabled the creation of a secondary market (the Note Trading Platform) where lenders can resale their notes to other lenders should they need liquidity. The Note Trading Platform is operated by Foliofn, a registered broker dealer.

Contacts:

Sales: John Donovan, COO, jdonovan@lendingclub.com
Bus. Dev.: Rob Garcia, Director, Product Strategy, rob@lendingclub.com, 408-524-1539
Press: Paula Cavagnaro, Antenna Group, paula@antennagroup.com, 415-977-1915