Lending Club and SCORE Partner to Support Small Businesses
Partnership provides business owners access to affordable credit and financial education
SAN FRANCISCO, Jan. 8, 2015 /PRNewswire/ -- Lending Club (NYSE: LC), the world's largest online marketplace connecting borrowers and investors, today announced a new partnership with SCORE (www.score.org), America's premier source of free and confidential small business mentoring and advice.
"Too many small business owners are still having a tough time getting the credit they need to grow their businesses and create jobs," said Lending Club Founder and CEO Renaud Laplanche. "The Federal Reserve Bank of New York's Spring 2014 Small Business Credit Survey found that 58% of small businesses want credit, but only 16% received the amount they wanted. We're excited to partner with SCORE to help small business owners access affordable credit."
"For decades, accessing financing has been one of the biggest challenges our small business clients have faced," said David R. Bobbitt, president of The SCORE Foundation. "We're excited to now connect small businesses directly to capital they need. I'm very pleased that Lending Club will also be sharing its financing expertise with our clients to help them learn about the broad range of financing options available."
SCORE small business clients will be able to access business loans through the Lending Club marketplace. Businesses that apply through http://www.scorefoundation.org/marketplace and obtain a loan facilitated by Lending Club will receive a Visa gift card for up to $250 funded by the SCORE Foundation.
"SCORE small business mentors are all volunteers—experienced executives and entrepreneurs themselves who give back by helping small business owners. And SCORE mentoring is provided at no cost," explained Bobbitt. "Partners like Lending Club ensure that these services reach more than 350,000 small business owners across the U.S. each year."
Lending Club will also be providing SCORE small business mentors and clients with free training on the growing range of small business financing options available, how to calculate the cost of financing, and more via educational materials and live webinars presented by their small business financing experts.
To access the full range of small business resources offered by SCORE, visit: www.score.org/resources. To find out about upcoming live educational webinars for aspiring or existing small business owners, visit: www.score.org/onlineworkshops.
To learn more about business loans available through Lending Club, visit: https://www.lendingclub.com/business.
To read the Federal Reserve Bank of New York's semiannual Small Business Survey, visit: http://www.ny.frb.org/smallbusiness/Spring2014.
About SCORE
Since 1964, SCORE has helped more than 10 million aspiring entrepreneurs. Each year, SCORE provides small business mentoring, workshops and education to more than 375,000 new and growing small businesses. More than 11,000 business experts volunteer as mentors in over 320 chapters serving local communities with entrepreneur education. For more information about starting or operating a small business, call 1-800/634-0245 for the SCORE chapter nearest you. Visit SCORE at www.score.org. Connect with SCORE at www.facebook.com/SCOREFans and www.twitter.com/SCOREMentors.
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.
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SOURCE Lending Club
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