Wednesday, April 9, 2008

US News features Lending Club borrower

With no mention of Lending Club's halt on peer lending, U.S. News and World report has featured a Lending Club borrower in a feature on how people are surviving the credit crunch.

Ryan Feig, 35, founder of Zensah Performance Apparel, a Miami innovator of seamless compression sportswear. Projected 2008 sales: seven figures

"My experiences with banks have been extremely difficult—even though we sell to teams in the NBA, are a 3-year-old company, have great technology and have some of the greatest athletes. Lending Club [an online social lending network] has been a savior. It's true capitalism for borrowing. Tomorrow, even if there is no more credit crunch, I think people are going to have better access to capital through people-to-people lending than, let's say, a bank."

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