Work with your doctor or dentist to finance your care. As part of the Institutional Securities Group, she was responsible for managing relationships with some of Morgan Stanley's most important institutional investors.Valerie holds BA in Economics from Vassar College. This service was offered in a partnership with FOLIOfn Investments which charged a 1% fee on note sales, making LendingClub the first peer-to-peer lending network to offer a secondary market for peer-to-peer loans. [1] Co-founder Soul Htite moved to China to start, a peer-to-peer lending company based in Shanghai. Loans up to $40,000 for qualified borrowers investing in new or smaller businesses. Therefore, income from LendingClub loans could be taxed at a higher rate than investments taxed at the capital gains rate.

[15], In April 2010, the company raised $24.5 million in a Series C funding led by Foundation Capital and joined by existing investors including Morgenthaler Ventures, Norwest Venture Partners and Canaan Partners. The partnership intended to provide $10 million to small businesses in areas of California that are underserved by lenders. Rates varied from 6.03% to 26.06%, depending on the credit grade assigned to the loan request. Loans $5,000 – $500,000 for businesses with at least $50,000 in annual sales and 12 months in business. [23] Only borrowers with FICO score of 660 or higher can be approved for loans. [49], In April 2020, the company announced it would lay off around one third of its employees in anticipation of the economic downturn resulting from the COVID-19 pandemic.[50]. [1][21][22] The company averaged about $1.5 million in loan originations daily, with a total of $600 million since its founding.

Other peer-to-peer lending networks, such as, subsequently also partnered with FOLIOfn Investments to offer a secondary market. [13] On October 14, 2008, LendingClub announced its completion of the SEC registration process, posted the filed prospectus on its website, and resumed new lender registration. Valerie brings more than 25 years of capital markets experience across a broad range of consumer asset classes. Get $5,000–$500,000 for your business at a low, fixed rate. [76], "America's Most Promising Companies (2011): Lending Club",, "AvantCredit Raises $225 Million From Tiger Global, Peter Thiel", "Making Personal Loans For Fun And Profit", "LendingClub Founder and CEO, Renaud Laplanche – Interview", "Entretien avec Renaud Laplanche, CEO de LendingClub", "Lending Club Files For SEC Registration, Hopes To Resume Service", "LendingClub Discloses Changes to How It Sets Interest Rates", "Lending Club gets a 12 million credibility boost", "LendingClub attracts attention of investors", "Lending Club Nabs $25 Million In New Funding", "Thursday Deals Roundup: Zagat, Platfora, Lending Club & More", "From Lending Club To China: Soul Htite Builds Top Chinese P2P Lending Site Dianrong", "With bank credit frozen, small U.S. businesses starting to turn to microlenders", "Lending Club prospectus (government filings)", "Lending Club Commences $1 Billion Note Offering", "Lending Club Lands $17.5 Million from Kleiner Perkins and Morgan Stanley Chairman John Mack", "Google Buys Stake in LendingClub Startup Valued at $1.55 Billion", "Community banks find a friend in Lending Club", Lending Club CEO on Getting a Loan Without a Bank, "Frustrated With Your Bank?