Lending Club Launches Open Integration

Suite of APIs lets online brokers and advisors offer Lending Club Notes

Aug 12, 2015, 09:00 ET from Lending Club

SAN FRANCISCO, Aug. 12, 2015 /PRNewswire/ -- Lending Club (NYSE: LC), the world's largest online marketplace connecting borrowers and investors, has launched Lending Club Open Integration (LCOI).

LCOI allows online advisors and broker-dealers to offer Lending Club investments quickly and easily to their client bases, using a suite of Application Programming Interface (API) services that integrate directly into their websites. It provides the same functionality that currently exists on Lendingclub.com, including money movement, investing, reinvesting, real-time reporting of cash and holdings, and tax reporting.

Renaud Laplanche, founder and CEO of Lending Club, said, "Retail investors have always been a key constituency for us. With LCOI, we are making it easy for advisors and broker-dealers to offer Lending Club Notes to their retail clients and deliver a blissful, seamless experience."

Lending Club brings together borrowers looking for lower rates, and investors looking for attractive returns. Through Lending Club, individual retail investors have access to consumer credit as an asset class that generally has not been available to them. Investors can invest in loans in increments as low as $25, diversifying across hundreds or thousands of borrowers, to quickly and easily build a portfolio that fits their investment objectives. Each fraction of a loan is invested in through a Note. Lending Club Notes have Historical Returns by Grade A-C of 5.19% to 8.88%.* Among investors who own 100 or more Notes of similar size representing loans to different borrowers, 99.9 percent have seen positive returns. 

For more information about Lending Club Open Integration, email LCOI@lendingclub.com.

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.

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. Since launching in 2007, the Lending Club platform has facilitated over $11.2 billion in consumer loans and has more than doubled annual loan volume each year. We operate at a lower cost than traditional bank lending programs, so we're able to pass the savings on to borrowers in the form of lower rates and to investors in the form of solid returns. 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: AR, AZ, CA, CO, CT, DE, FL, GA, HI, IA, ID, IL, KY (accredited investors), LA, MA, ME, MN, MS, MT, NH, NV, NY, OK, RI, SD, TX, UT, VA, VT, WA, WI, WV, or WY. All loans made by WebBank, a Utah-chartered Industrial Bank, Member FDIC.

*As of June 30, 2015. To be included in the Historical Returns calculation, a Note must have been originated prior to December 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.

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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