Lending Club Personal and Business Loans Now Available to Mississippi Residents

SAN FRANCISCO, April 2, 2014 /PRNewswire/ -- Lending Club (http://www.lendingclub.com), the nation's #1 peer to peer lender, is now facilitating personal and business loans to borrowers in Mississippi. Applicants with good-to-excellent credit may qualify for an unsecured personal loan for up to $35,000 to pay off high-interest credit cards, finance home improvements, or achieve other financial goals, and for a business loan up to $100,000. The Lending Club platform is now available to prospective borrowers in 45 states.

As of today Lending Club has facilitated over $4 billion in consumer loans since launching in 2007 and has more than doubled annual loan volume each year. Utilizing technology and automated processes online, Lending Club's platform is able to provide more affordable credit to borrowers and solid yields to investors.

"We're excited to be able to offer access to personal and business loans to residents of Mississippi," said Lending Club CEO Renaud Laplanche. "To date, loans through Lending Club have helped more than 290,000 Americans achieve their financial objectives. Our goal is to become more helpful to more people, and this is another step toward that goal."

How are people outside of Mississippi using Lending Club?
More than two-thirds of Lending Club's consumer loan borrowers report using their loans to refinance existing loans or pay off credit cards, potentially saving thousands of dollars in interest costs. Consumer Loans can be used for practically anything, with borrowers reporting they have used their loans to pay for major purchases as varied as home improvements, weddings, solar installations and even swimming pools. The new business loan product available through the Lending Club platform allows a business to borrow up to $100,000 for a range of purposes including remodeling, expanding inventory, and purchasing equipment.

What makes Lending Club different?
Lending Club is transforming the banking industry to make it more efficient, transparent and customer friendly. Lending Club replaces traditional bank systems with an online marketplace that operates at a lower cost, helping borrowers lower the cost of their credit and investors achieve solid returns. The process is transparent with no hidden fees or charges.

Is it easy to apply for a loan at Lending Club?*
Yes. Mississippi residents can check their rate on a loan via Lending Club instantly, with no impact to their credit score, at https://www.lendingclub.com or https://www.lendingclub.com/business.

* All loans made by WebBank, a Utah-chartered Industrial Bank, Member FDIC. Your actual rate depends upon credit score, loan amount, loan term, and credit usage & history.

About Lending Club
Lending Club utilizes technology and innovation to reduce costs and offer borrowers better rates and investors steady returns. As of today over $4 billion in loans have been issued through the Lending Club platform, which has more than doubled annual loan volume each year since launching in 2007. The Company is prominently recognized as a leader for its growth and innovation, including being named one of Forbes' America's Most Promising Companies three years in a row, a 2012 World Economic Forum Technology Pioneer, and one of The World's 10 Most Innovative Companies in Finance by Fast Company in 2013. Lending Club is based in San Francisco, California. More information is available at: https://www.lendingclub.com. 

Some of the statements in this above are "forward-looking statements." The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "would" and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. The Company does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Information in this press release is not an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Additional information about Lending Club is available in the prospectus for Lending Club's notes, which can be obtained on Lending Club's website at https://www.lendingclub.com/info/prospectus.action.

SOURCE Lending Club

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