Comments on: Lending Club Passes $100,000 Mark In Loans To Facebook Users

By: Lending Club - Making Loans to Facebook Users | TomCworld Blog

Lending Club - Making Loans to Facebook Users | TomCworld Blog — Sat, 29 Nov 2008 17:11:49 +0000

[...] TechCruch Tags: Lending Club, Facebook, TechCrunch, Loans, Barrowing Sphere: Related [...]

By: 5 Online Lead Generation Ideas I Like | Lead Marketwatch | Lead Marketwatch

Tue, 08 Jul 2008 14:36:58 +0000

[...] this disclosure of SEC license filings. The interesting history of LendingClub is that is truly started social–as a Facebook app. Zopa: This social lender began its operation in the UK and has brought its style of lending into [...]

By: Lending Club Files For SEC Registration, Hopes To Resume Service

Lending Club Files For SEC Registration, Hopes To Resume Service — Sat, 21 Jun 2008 00:23:11 +0000

[...] Club originally launched as a Facebook app that allows users to lend money between themselves. But because the company acts [...]

By: Lending Club - Rethinking Loans With Peer-Lending | Helpmepaymyloans.com -- Resources, statistics, information and news about student loans, general finance management and more

Fri, 02 May 2008 13:29:28 +0000

[...] that let users take out loans funded by other users. By the middle of last year, a month after it passed the one hundred thousand mark, Lending Club passed the $500k mark for lent and borrowed money among members. Since then it has [...]

By: Lending Club Puts Hold on Lending Activity While It Sorts Out Some Legal Issues

Lending Club Puts Hold on Lending Activity While It Sorts Out Some Legal Issues — Wed, 09 Apr 2008 00:17:03 +0000

[...] Club, a P2P lending service that started off as a Facebook app, has temporarily stopped accepting new loans and [...]

By: TechCrunch en français » Lending Club dépasse la barre du million de dollars en prêts et s'étend en dehors de Facebook

Thu, 13 Sep 2007 12:56:28 +0000

[...] intervient 3 mois à peine après avoir atteint 100 000 dollars en prêts et 3,5 mois après leur [...]

By: Lending Club Breaks $1 Million, Expanding

Lending Club Breaks $1 Million, Expanding — Thu, 13 Sep 2007 12:17:06 +0000

[...] milestone comes just short of 3 months since the the site hit the $100,000 mark, and 3 1/2 months since going live as an original Facebook Platform [...]

By: Somewhat Frank

Somewhat Frank — Tue, 03 Jul 2007 05:39:16 +0000

Lending Club: Borrow …

Do you want to borrow money for less? Join the club, theLending Club, that is. Lending Club is an online lending community where people borrow and lend money among each other. By working together Lending Club, members can borrow money…

By: Facebook News | NathenGrass.com

Facebook News | NathenGrass.com — Fri, 22 Jun 2007 21:48:36 +0000

[...] Lending Club Passes $100,000 Mark In Loans To Facebook Users [...]

By: shopyield.com › The risk of getting your money back…

shopyield.com › The risk of getting your money back… — Thu, 21 Jun 2007 23:00:25 +0000

[...] lending is a new investing model for retail. Although the promotion of P2P is wrapped in a social connectivity story it is the yield and default data for lending to individuals with different profiles that should [...]

By: Renaud Laplanche

Renaud Laplanche — Thu, 21 Jun 2007 22:20:03 +0000

Marc,

Rates actually go all the way up to 18% for the most “risky” loans. The 11.68% rate is the expected net return AFTER defaults for a “G” portfolio (ie the most risky on a scale of A to G). You can find more information on
our site about rates, expected defaults, and expected returns.

Renaud from Lending Club

By: Renaud Laplanche

Renaud Laplanche — Thu, 21 Jun 2007 20:47:34 +0000

Marc,

Rates actually go all the way up to 18% for the most “risky” loans. The 11.68% rate is the expected net return AFTER defaults for a “G” portfolio (ie the most risky on a scale of A to G). You can find more information on rates, expected defaults, and expected returns at:

https://secure....er-rates.action and

https://secure....er-rates.action

Renaud from Lending Club

By: Old B

Old B — Thu, 21 Jun 2007 19:39:45 +0000

I may not even be able to spell it right but “disintermediation” seems to be the key word here. Almost all functions of a bank can now be outsourced (marketing to Facebook, credit scoring to Experian/Equifax and so with identity verification, money transfer, billing, bad debt collection, etc.). Lending Club seems to be just a virtual bank — the ultimate outsourcing machine where even borrowing and lending is outsourced . TechCrunch rules because it writes about great new ideas!

By: PhilR

PhilR — Thu, 21 Jun 2007 19:18:54 +0000

Banks are always looking for alternate ways to isolate acceptable credit risks. It’s easy to find qualified people to lend to, much harder to find people who look bad but actually are low risk. They’ve pretty much maxed out using the traditional criteria so if a company can figure out how to do it with social networking, it could be huge. My advice would be to perfect the algorithms and then sell at a very high price to FICO or one of the big banks. Good luck!

By: NetFan

NetFan — Thu, 21 Jun 2007 19:13:24 +0000

Social lending on social networks is a GRAND idea. It is the only chance for p2p lending to go mainstream. Many online communities will benefit from their own efficient credit unions (P2P lending is not new — just low cost credit unions online). I hope that Lending Club goes beyond Facebook. But maybe the company could be less restrictive on borrowers — currently only borrowers with FICO over 640 are allowed.

By: Mac Lender

Mac Lender — Thu, 21 Jun 2007 17:44:25 +0000

Wow lenders are sure to lose money there, with a rate cap of 11.68% you can really lend to the best of borrowers in the Prime category.. Ones defaults hit lenders will be crushed…

By: trade cds

trade cds — Thu, 21 Jun 2007 16:52:41 +0000

I wonder how much of this leaned money went straight to the online poker sites???

As if college students weren’t in enough dept already.

By: David Litsky

David Litsky — Thu, 21 Jun 2007 15:24:59 +0000

Great fake post by “Mark Zuckerberg” who in all the articles I have read, is genuine and humble.

By: Rex Dixon

Rex Dixon — Thu, 21 Jun 2007 15:21:54 +0000

I go have surgery, and we get on TechCrunch! hahahha… My luck! Thanks guys for covering us. Nice post.

Rex

By: Jason Jenkins

Jason Jenkins — Thu, 21 Jun 2007 14:23:58 +0000

Concrete Stain
Your wish Is My Command, Any other suggestions? We are open to them.
thx
jason jenkins
http://www.abstract10.com

By: Marshall Kirkpatrick

Marshall Kirkpatrick — Thu, 21 Jun 2007 14:02:26 +0000

lol, Chad Hurley has come back in comments as Mark Zuckerberg! Who is this wierdo?

By: Concrete Stain

Concrete Stain — Thu, 21 Jun 2007 13:33:50 +0000

heh – honestly /

– abstract10; If you want your site to be taken seriously it should atleast load properly in a 1024 x 768 … and most like even in a 800 x 600 ….

– IE (goog, MSN, Yahoo ((90% of most sites)

By: Jason Jenkins

Jason Jenkins — Thu, 21 Jun 2007 13:16:01 +0000

BB
i bet ive done 10 times for the web than you will ever do, I DONT SPAM, I PARTICIPATE FOOL!! BEEN HERE SINCE 97!! HELP BUILD THIS INET, BOY!

By: Jason Jenkins

Jason Jenkins — Thu, 21 Jun 2007 13:13:33 +0000

bb dont spam alert me, i use just about every service on here, and just about everyone gives their web address, dont hate on me bro!!
jason jenkins
http://www.abstract10.com

By: David Litsky

David Litsky — Thu, 21 Jun 2007 12:30:44 +0000

This is an excellent use of the F8 platform, and while there are a few issues, they can be worked out over time. What I want to see is a real “bank” in facebook.