Tuesday, April 28, 2009

Lending Club previews new lender feature at FinovateStartup09

Today at FinovateStartup 2009, Lending Club previewed a new feature which shows lenders how their returns stack up against other lenders. Currently, the average lender makes 9.05% after fees and defaults according to Lending Club. This feature will show you, via a nice graphical interface, how you compare against others. See the screen shot below:


Lending Club also emphasized the success of their secondary loan platform which launched six months ago. Since then over $2,000,000 in loans have been traded and the time to liquidity is two days. In addition to providing liquidity to new lenders, this platform provides new investment opportunities. There are 1800 loans on secondary loan platform right now.

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