Lendingclub.com announced today that now users of all 50 states can borrow money through Lendingclub.
Prosper.com is covering 47 states, but in some states borrowing is restricted to business purpose loans.
Lendingclub
Lendingclub to offer data export soon
Rob Garcia, Director Web Production of Lendingclub, told P2P-Banking.com that Lendingclub will offer data export soon. The data on loans will be supplied in XML or Excel format and allow anybody to do their own statistical analysis. Lendingclub will announce the availability of the data export in it's blog.
Lending experiences at Lending Club
In a post at PersonalLoanPortfolio the first experiences of a lender at Lendingclub.com are given. The author says the Lendingclub website was easy to use and understand, but states that the list of loans to fund is too small, resulting in him investing only $400 instead of the planned $500.
If you are a lender at Lendingclub please share your experiences.
Latest changes at Lendingclub
Lendingclub.com now enables members to be a borrower AND a lender. Borrowers can have multiple loans, credit policy guidelines permitting. Lendingclub also added a Q&A feature and improved statistics. The new referral program enables this offer:
$25 bonus for you, when you sign up as a lender here (bonus credited after you funded your account)
$25 bonus for you, when you sign up as a borrower here (bonus credited after loan application)
Lendingclub with new homepage
Lendingclub has a new homepage. At least I think it is new, but maybe I have overlooked it for quite some time since Lendingclub used to point the homepage to the Lendingclub blog and I usually went directly to the blog URL.
The homepage is mainly an information showcase for new borrowers or lenders. Unlike Prosper it has few real functions. While most data remains restricted to logged in users, it does show a few rankings and statistics.
Today Lendingclub announced that it passed the US$ 1 million loan mark. With 683 verified lenders Lendingclub is still small compared to Prosper numbers, but growing steadily.
Lendingclub receives 10 million VC funding
Lendingclub has received a 10.26 million US$ venture capital investment from Norwest Venture Partners and Canaan Partners. The CEO Renaud Laplanche announced that the money will be used to expand Lendingclub beyond the Facebook platform.
In an interview, Daniel Ciporin of Canaan Partners says:
P2P services and functionality in general has been at the heart of web market disruption, from Ebay to MySpace to Facebook, using only a few of the most prominent examples. I think the opportunity is ripe now to apply P2P functionality in the consumer lending space, especially with the particular focus on pre-existing affiliations that Lending Club has.