LendingClub announces some new trend results

Lending Club are announcing today some new numbers that show they are gaining traction since their relaunch following SEC approval.  There is no-one else to compare them to now, but the trend is positive, and getting more so all the time.

LendingClub

53% growth in quarterly loan originations, from $5,374,850 in Q4 2008 to $8,239,950 in Q1 2009

From January 1st  to May 31st 2009:

  • 60% growth in total loans issued by Lending Club, from $25M to $40M
  • 70% growth in total Lending Club membership from 82,000 to 140,000
  • 72% growth in loan applications, from $212M to $365M
  • The average net annualized return earned by Lending Club investors grew from 9.05% as of December 18, 2008 (as reported by analyst firm Javelin Research) to 9.73% as of May 31, 2009