SAN FRANCISCO, Jan. 7, 2015 /PRNewswire/ -- Lending Club (NYSE: LC), the world's largest online marketplace connecting borrowers and investors, today announced the launch of a partnership with the U.S. Women's Chamber of Commerce (USWCC) to help women business owners access affordable credit. At www.WomensBusinessLoans.org, women business owners can apply online in minutes, instantly review offers for loans through Lending Club, and receive funding in as little as a few days.
"Partnering with the U.S. Women's Chamber of Commerce allows us to provide a better solution to women business owners seeking affordable credit who are not being offered a quick and convenient solution from traditional lenders today," said Lending Club Founder and CEO Renaud Laplanche "We're excited to expand our offerings and be a driving force in supporting the women-owned small business economy."
Lending Club and the USWCC share a commitment to helping women-owned businesses overcome the challenges of getting access to capital. According to the USWCC, in 2013 women owned nearly 30% of all U.S. firms yet accounted for only 13% of the dollars loaned with backing from the Small Business Administration.
"The U.S. Women's Chamber of Commerce is excited to step into the small business lending arena to help break the log jam of failed opportunity," said Margot Dorfman, the organization's CEO. "Too many women-owned firms have failed to realize their full potential due to lending models that simply don't work well for small business owners. We are thrilled to partner with Lending Club to provide women with better access to capital."
Lending Club's marketplace provides access to low-cost term loans with interest rates starting at 5.9% for borrowers with excellent credit. Additionally, businesses that apply through http://www.womensbusinessloans.org/ and obtain a loan facilitated by Lending Club will receive a $250 "Cash in your pocket" reward funded by the USWCC.
About Lending Club Lending Club utilizes technology and innovation to reduce costs and offer borrowers better rates and investors better returns. As of September 30, 2014, over $6 billion in loans have been facilitated through the Lending Club platform. The Company 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.
All loans made by WebBank, a Utah-chartered Industrial Bank, Member FDIC. Actual rates depend upon credit score, loan amount, loan term, and credit usage & history. Interest rates from 5.9% to 29.9%; best interest rate is available to borrowers with excellent credit.
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.
About WomensBusinessLoans.org WomensBusinessLoans.org is provided by USWCC Services, Inc. for the U.S. Women's Chamber of Commerce (USWCC), the leading advocate for women on economic and leadership issues. As the economic leader for women, the USWCC creates opportunities, drives progress, advocates, and provides tools and solutions to support the economic growth of women across America. The USWCC (uswcc.org) is a not-for-profit 501(c)6 organization founded in 2001 with over 500,000 members; its headquarters offices are located in Washington, D.C. Contact the USWCC at 888-418-7922.
Press Contact: Grayling PR 415-593-1400 LendingClub@grayling.com
Investor Contact: James Samford IR@lendingclub.com
SOURCE Lending Club