lendingclub.com

Lending Club has New Graphic Statistics Page

wiseclerk

Lending Club has a new graphic displays on it’s statistic page. Prominently featured are loan purpose, range of investor returns and total loans funded. Users can click on any graphic to enlage it. I found the ‘Loan details’ page more interesting then the ‘Highlights’ page, for it visualizes differences in trends depending on loan purpose.

Signup Bonus

New lenders signing up at Lending Club via this link get 25 US$ to lend.

Benefits of Investing in P2P Lending via Lending Club

wiseclerk

Lending Club lenders have invested more than 45 million US$ in loans to fellow borrowers. Not yet a Lending Club investor?

You might off by watching this presentation, which was recently webcasted by Lending Club to lenders. The 30 minute presentation lists benefits and explains the basics on how the website works.

Since it is marketing material it does show a very rosy picture on the numbers, but you can crunch all figures for yourself on Lending Club’s statistic page (e.g. change observation to loans issued from June 2007 to June 2008).

If you are ready to start investing at Lendingclub. com you can sign up here.

Lending Club Introduces Self-Directed IRA to Enable Investments in P2P Lending

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P2P lending service Lending Club, today announced the availability of the first Self-Directed Individual Retirement Account to enable investments in peer lending. EntrustCAMA, part of the Entrust Group,  serves as the administrator for these accounts.

This new Self-Directed IRA investment choice gives individuals the ability to build a portfolio of Lending Club notes and hold that portfolio in a tax-free or tax-deferred account. To meet the Federal deadline for this tax season, applications must be completed online, printed and postmarked before April 15, 2009. The account application is available at https://www.lendingclub.com/sdIRA/registerIRA.action

Key benefits stated:

  1. Potential for high returns. Choose from a diversified group of hundreds of qualified borrowers.
  2. Tax advantages. Investments in a Self-Directed IRA can grow tax deferred until retirement age.
  3. Flexibility.
    Select the type of IRA which is right for you:
    Individuals: Traditional or Roth
    Small businesses: SIMPLE or SEP
    Fund the IRA directly with a check or an existing account (IRA or 401K) to transfer or rollover.
  4. A Diversified Retirement Portfolio. This Self-Directed IRA gives your portfolio access to Lending Club Notes, going beyond traditional stocks, bonds and mutual funds.

Fees:

  • No account opening fees
  • One flat 250 US$ annual account maintenance fee starting in 2010 when you open an account before April 15, 2009
  • No other fees
  • Low minimum starting contribution of 5,000 US$

Sources: press release, Lending Club website

Lending Club receives 12 million US$ VC funding

wiseclerk

Lending Club announced today that they have closed another funding round. Excerpt from the press release:

… closed a $12 million Series B round of funding. Morgenthaler Ventures led the round and is joined by existing investors, Norwest Venture Partners and Canaan Partners. Rebecca Lynn, a Morgenthaler Principal, is joining Lending Club’s board of directors.

Lending Club also announced today that it has added Pamela Kramer as Chief Marketing Officer. Ms. Kramer is an established marketing veteran … . She was most recently Chief Marketing Officer of MarketTools, Inc and, before that, spent 9 years in leadership roles with E*TRADE Financial … .