LendingClub expands into three more American states
Lending Club has added three more states, along with the Disrict of Columbia, to its list of states that retail investors may now invest in through Lending Club loans.  Michigan, Kentucky and Alabama bring the number of states to 42.

SAN FRANCISCO, Nov. 23, 2015 /PRNewswire/ -- Lending Club (NYSE: LC), the world's largest online marketplace connecting borrowers and investors, announced today that its marketplace is now available to retail investors in Alabama, Kentucky, Michigan, and Washington, D.C., bringing the total number of states open to retail investors to 41 plus the District of Columbia. Lending Club's platform was previously available to accredited investors only in Kentucky.

"Individual investors continue to be key to the long term growth and efficiency of the Lending Club marketplace, and are fueling many of the network effects that have helped the platform to double again over the last 12 months," said Lending Club founder and CEO Renaud Laplanche. "There are now well over 100,000 active retail investors participating in the Lending Club marketplace, and we're excited that investors in 41 states and our nation's capital can now enjoy the benefits of investing in consumer credit, an asset class that was previously only available to banks and large institutions."

Lending Club is a two-sided marketplace that brings together borrowers looking for lower rates and a great experience, and investors looking for attractive returns. Individual retail investors use the platform to access consumer credit as an asset class not previously available to them. Investors on the Lending Club platform can invest in loans in increments as low as $25, diversifying across hundreds or thousands of borrowers, to quickly and easily build a portfolio that fits their investment objectives. Each fraction of a loan is invested in through a Note. Lending Club Notes have Net Historical Returns by Grade A-C of 5.23% to 8.82%.* Among investors who own 100 or more Notes of similar size representing loans to different borrowers, 99.9 percent have seen positive returns.

Alabama, Kentucky, Michigan, and Washington, D.C. residents can now create an account at www.lendingclub.com, and choose either a traditional investment account or retirement account. Investors receive monthly payments of principal and interest as borrowers repay their loans, and can withdraw available cash at any time via a linked bank account.

*As of September 30, 2015. To be included in the Historical Returns calculation, a Note must have been originated prior to March 31, 2014. Historical Returns are Lending Club's adjusted net annualized returns (Adjusted NAR) for Notes with Grades A through C. Adjusted NAR is calculated using the formula described on our website. Historical Returns are not a promise of future results. Lending Club Notes are not insured or guaranteed and investors may have negative returns. Individual portfolio results may be impacted by, among other things, the diversity of the portfolio, exposure to any single Note or group of Notes, as well as macroeconomic conditions. Notes are offered by prospectus filed with the SEC and you should review the risks and uncertainties described in the prospectus prior to investing in the Notes.

About Lending Club

Lending Club's mission is to transform the banking system to make credit more affordable and investing more rewarding. The company's technology platform enables it to deliver innovative solutions to borrowers and investors. Since launching in 2007, the Lending Club platform has facilitated over $13.4 billion in consumer loans and has more than doubled annual loan volume each year. We operate at a lower cost than traditional bank lending programs, so we're able to pass the savings on to borrowers in the form of lower rates and to investors in the form of solid returns. Lending Club has been 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 CNBC Disruptor two 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. Lending Club is based in San Francisco, California. More information is available at https://www.lendingclub.com. Currently only residents of the following states may invest in Lending Club notes: AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, ME, MI, MN, MO, MS, MT, NE, NH, NV, NY, OK, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, or WY. All loans made by WebBank, a Utah-chartered Industrial Bank, Member FDIC.

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.

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SOURCE Lending Club

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