Saturday, July 7, 2007

Lending Club hits quarter million dollar milestone

Six weeks after opening its doors, Lending Club has brokered peer to peer loans worth a quarter million dollars. Lending Club is Prosper's only real competitor in the United States and is currently only open to Facebook members. This milestone comes just two weeks after passing the $100,000 mark. These mini-milestones have generated significant online buzz and have been reported in Mashable and TechCrunch. Lending Club is reporting the following statistics so far:


Lending Club Statistics
Facebook launch - May 24, 2007
First loan closed - June 6, 2007
Passed $100,000 in loan origination - June 20, 2007
Passed $250,000 in loan origination - July 5, 2007
Loans issued - 52 ($259,325)
Verified lenders - 411
Total members - 2,392
Facebook installs - 10,430
Facebook groups and networks - 20,936
Top Facebook group - Apple Students
Top borrowing State - Florida
Top lending State - California
Average Interest Rate - 10.28%

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