What We Do
Lending Club opened in 2007 with one simple mission: create a more efficient, transparent and customer-friendly alternative to the traditional banking system that offers creditworthy borrowers lower interest rates and investors better returns. We operate fully online with no branch infrastructure, and use technology to lower cost and deliver an amazing experience. Today, we're America's leading peer to peer lender, and we're radically changing the way lending operates - every day.
"Lending Club's platform has the potential to profoundly transform traditional banking over the next decade."
--Larry Summers, 71st Secretary of the Treasury of the United States of America; Lending Club Board member
The Lending Club experience is liberating:
- As a borrower, you can get an instant quote in minutes with no impact to your credit score. If you choose to take a loan, you can watch as funds are committed by investors who are choosing to invest in you and your success.
- If you're investing, you can open an account instantly and build a portfolio of hundreds or thousands of loans made to pre-screened borrowers. You'll receive monthly payments of principal and interest, which you can take as cash flow or choose to reinvest.
- Everything is done online, so the whole process is fast, convenient and private.
"Lending Club is helping reinvent the consumer lending industry"
--Mary Meeker, Kleiner Perkins, Lending Club Board Member
Read more about How it Works
Until recently, the massive $3 trillion consumer lending market remained largely untransformed by technological innovation. Most people received their credit from traditional financial institutions such as banks, credit card companies, and credit unions, and invested in traditional vehicles like stocks and bonds. Lending Club's innovation was to offer a simple, convenient and beneficial alternative to both sides. Fueled by the value we deliver, Lending Club has consistently grown at more than 100% per year each of the last few years. Since inception, we have facilitated more than $4 billion in loans, while paying more than $300 million in interest to investors.
Lending Club was founded by Renaud Laplanche, Over the past seven years the company's commitment to radically redefining consumer lending has attracted a stellar team, made up of innovators from financial services, technology and consumer products. We're honored that our board of directors and board of advisors include outstanding individuals who have been recognized for helping improve the world around them through technology, innovation, and creative thinking.
We're proud to be recognized as a leader for our growth and innovation, including being named one of Forbes' America's Most Promising Companies three years in a row, awarded as a 2012 World Economic Forum Technology Pioneer, and chosen as one of The World's 10 Most Innovative Companies in Finance by Fast Company in 2013.
"Lending Club has created an innovative platform that provides investors with low cost access to high quality consumer credit assets, and at the same time makes credit more affordable to consumers,"
--John Mack, Chairman Emeritus, Morgan Stanley; Lending Club Board Member