Increasingly, institutions—asset managers, pensions, and banks alike—are looking to whole loans available through the Lending Club platform to:
As the world's largest online credit marketplace, Lending Club facilitates billions in loans each year. We have an annual run rate of $9.8 billion as of September 30, 2020. Lending Club offers institutions the longest track record in the industry, sophisticated risk management, and easy-to-use tools to build and modify customized loan portfolios.
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Lending Club started with the standard loan program, which serves eligible personal loan borrowers with FICO scores of 660 or above. Later, we expanded to other personal loan segments, as well as small business borrowers and patient and education financing.
See the chart below for information on products open to institutional accounts.1
| Personal Loans | Small Business Loans | Patient Solutions | ||||
|---|---|---|---|---|---|---|
| Super Prime | Prime (FICO 660+) |
Near Prime (FICO < 660) | Term Loans | Line of Credit | Payment Plans | |
| Sample Use Cases | New Large Purchases | Refinancing, New Large Purchases | Refinancing | Capital Expenditures, Working Capital, Acquisitions | Working Capital, Inventory Financing | Elective Medical, K-12 Tuition, Tutoring |
| Loan Size | $1k ‐ $50k | $1k ‐ $40k | $1k ‐ $20k | $5k ‐ $300k | $5k ‐ $300k | $2k ‐ $50k |
| Interest Rates | 3.99% ‐ 9.34% | 5.32% ‐ 26.30% | 19.99% ‐ 30.99% | 5.90% ‐ 25.90% | 6.25% ‐ 29.05% | 3.99% ‐ 24.99% |
| Term | 2, 3 & 7 yrs |
3 & 5 yrs |
3 & 5 yrs |
1, 2, 3 & 5 yrs |
Each Draw Term is 25 Months | 2, 3, 4, 5, 6, & 7 yrs |
| Duration | 0.9 ‐ 2.5 yrs |
1.0 ‐ 1.9 yrs |
0.9 ‐ 1.3 yrs |
0.9 ‐ 2.2 yrs |
— | 0.9 ‐ 2.7 yrs |
| Payments | Amortizing monthly | Amortizing monthly | Amortizing monthly | Amortizing monthly | Amortizing monthly | Amortizing monthly |
Through Lending Club's standard loan program, institutions can purchase personal loans made to prime consumers looking to optimize the cost of their credit. The majority of borrowers in this program use our platform to pay off an existing credit card balance. Credit card balances carry interest at an average rate over 17% nationwide,2 and can be cost-effectively refinanced with a personal loan through Lending Club.
Lending Club assigns a grade (from A to D) to each loan based on the credit quality and underlying risk of the borrower.
Borrowers through the Lending Club platform are highly creditworthy. As of September 30, 2020, the average standard program Lending Club borrower has:
Our dedicated Institutional Team has a wide range of investment management and trading experience, and can help you get started purchasing loans with Lending Club.
1 As of September 2020.
2 As of September 2020. IndexCreditCards.com
3 Projected return is a measure of potential returns on invested principal. It is calculated as follows: Average Effective Interest Rate - Expected Charge Off Rate - Estimated Fees. Individual results may vary and projections can change. Past performance is no guarantee of future results and the information presented is not intended to be investment advice, guidance, or a guarantee of performance.
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