The Bankwatch

Tracking the consumer evolution of financial services

LendingClub announces some new trend results

Lending Club are announcing today some new numbers that show they are gaining traction since their relaunch following SEC approval.  There is no-one else to compare them to now, but the trend is positive, and getting more so all the time.

LendingClub

53% growth in quarterly loan originations, from $5,374,850 in Q4 2008 to $8,239,950 in Q1 2009

From January 1st  to May 31st 2009:

  • 60% growth in total loans issued by Lending Club, from $25M to $40M
  • 70% growth in total Lending Club membership from 82,000 to 140,000
  • 72% growth in loan applications, from $212M to $365M
  • The average net annualized return earned by Lending Club investors grew from 9.05% as of December 18, 2008 (as reported by analyst firm Javelin Research) to 9.73% as of May 31, 2009

Written by Colin Henderson

June 9, 2009 at 09:01

Posted in Social Lending

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