Lending Club Platform Now Open to Massachusetts Investors

SAN FRANCISCO – December 18, 2014 –  Lending Club (NYSE: LC), the world’s largest marketplace connecting borrowers and investors, announced today that its marketplace is now open to investing in the Commonwealth of Massachusetts.

Lending Club’s marketplace has facilitated over $6 billion in loan originations since its 2007 launch, including nearly $1.2 billion in the most recent quarter closed on September 30, 2014. The company began trading on the New York Stock Exchange following an initial public offering last week.

"Today, Massachusetts becomes the 28th state where individual investors gain the ability to invest in consumer credit as an asset class through the Lending Club platform," said Lending Club CEO Renaud Laplanche. "Massachusetts residents have already borrowed more than $150 million through our marketplace, and we are proud to now welcome investors from the Bay State as well."

Investors in Notes on the Lending Club platform have enjoyed solid returns with historical returns by Grade A-C of 4.74% to 7.98%.*

How are people using Lending Club?
Borrowers who receive a loan through the Lending Club marketplace often intend to use their loans to pay down higher-interest debt or finance large purchases. Investors on the Lending Club marketplace can invest in loans in increments as low as $25, to quickly and easily build a portfolio that fits their investment objectives. By purchasing Notes that correspond to hundreds or thousands of loans taken by quality borrowers, investors can diversify their portfolios and reduce the impact of a single loan loss. Among investors who own 100 or more Notes of similar size, 99.9 percent have seen positive returns.


How do I set up an investor account at Lending Club?
Massachusetts residents can now create an account at www.lendingclub.com, and choose either a traditional investment account or retirement account. Investors receive monthly payments of principal and interest as borrowers repay their loans, and can withdraw available cash at any time via a linked bank account.


About Lending Club
Lending Club’s mission is to transform the banking system to make credit more affordable and investing more rewarding. The company’s technology platform enables it to deliver innovative solutions to borrowers and investors. Lending Club has been prominently recognized as a leader for its growth and innovation, including being named one of Forbes’ America’s Most Promising Companies three years in a row, a CNBC Disruptor two years in a row, a 2012 World Economic Forum Technology Pioneer, and one of The World’s 10 Most Innovative Companies in Finance by Fast Company. Lending Club is based in San Francisco, California. More information is available at https://www.lendingclub.com. Currently only residents of the following states may invest in Lending Club notes: CA, CO, CT, DE, FL, GA, HI, ID, IL, KY (accredited investors), LA, MA, ME, MN, MS, MT, NH, NV, NY, RI, SD, UT, VA, VT, WA, WI, WV, or WY.

*As of September 30, 2014. To be included in the historical returns ("Historical Returns") calculation, a Note must have been originated prior to March 31, 2013. Historical Returns are Lending Club's adjusted net annualized returns (Adjusted NAR) for Notes with Grades A through C. Adjusted NAR is calculated using the formula described here. Adjusted NAR is based on monthly borrower payments actually received net of Lending Club’s service fees, actual charge offs, recoveries, and adjustment for estimated future losses. To estimate future losses, we apply a loss rate estimate to the outstanding principal of any loans that are past-due but not charged off. The loss rate estimate is based on historical charge off rates by loan status over a 9-month period. Historical Returns are not a promise of future results. Lending Club Notes are not insured or guaranteed and investors may have negative returns. Individual portfolio results may be impacted by, among other things, the diversity of the portfolio, exposure to any single Note or group of Notes, as well as macroeconomic conditions. Notes are offered by prospectus filed with the SEC and you should review the risks and uncertainties described in the prospectus prior to investing in the Notes.

Some of the statements in this above are "forward-looking statements." The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "would" and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. The Company does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Information in this press release is not an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Additional information about Lending Club is available in the prospectus for Lending Club’s notes, which can be obtained on Lending Club’s website at https://www.lendingclub.com/info/prospectus.action.

All loans made by WebBank, a Utah-chartered Industrial Bank, Member FDIC.



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Press Contact:
Grayling PR
415-593-1400
LendingClub@grayling.com


Investor Contact:
James Samford
IR@lendingclub.com

Financial Innovation

Lending Club doesn’t have physical branches, or several other layers of costs that weigh down traditional banks. But Lending Club also seems to exploit a market inefficiency that is really quite shocking, given the supposed sophistication of the big Wall Street firms.

The Atlantic

Featured Borrower

Rebecca

"The application process was simple, and it was neat to watch the process as people invested in my loan."