Lending Club expands to 3 further American states
Lending Club is now available to investors in Missouri, South Carolina, and Tennessee, bringing the total number of states available to retail investors to 39. Renaud Laplanche, CEO of Lending Club, said the company was excited to expand consumer credit as an asset class for retail investors. “There are now well over 100,000 active investors in 39 states enjoying the benefits of high-yield and broad diversification that were previously only available to banks and large institutional investors,” commented Laplanche.

Source: Lending Club

Lending Club (LC), the world's largest online marketplace connecting borrowers and investors, announced today that its marketplace is now available to investors in Missouri, South Carolina, and Tennessee, bringing the total number of states available to retail investors to 39.

"We are excited to continue to expand access to consumer credit as an asset class for retail investors," said Lending Club founder and CEO Renaud Laplanche. "There are now well over 100,000 active investors in 39 states enjoying the benefits of high yield and broad diversification that were previously only available to banks and large institutional investors."

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 Historical Returns by Grade A-C of 5.19% to 8.88%.* Among investors who own 100 or more Notes of similar size representing loans to different borrowers, 99.9 percent have seen positive returns.

Missouri, South Carolina, and Tennessee 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 June 30, 2015. To be included in the Historical Returns calculation, a Note must have been originated prior to December 31, 2013. 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 here. Adjusted NAR is based on monthly borrower payments actually received net of Lending Club's service fees, actual charge offs, recoveries, and adjustment for estimated future losses. To estimate future losses, we apply a loss rate estimate to the outstanding principal of any loans that are past-due but not charged off. The loss rate estimate is based on historical charge off rates by loan status over a 9-month period. 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.