23 July 2017
visit www.finastra.com

Lending Club moves into business loans

20 March 2014  |  1278 views  |  0 Source: Lending Club

Today, Lending Club announced the launch of business loans to meet the needs of America's small businesses, a topic that Lending Club CEO Renaud Laplanche discussed with members of the U.S. House of Representatives in December 2013.

As our latest infographic shows, small businesses need access to capital to continue to be a driving force and foundation of the US economy.

This is a huge milestone for us. For the past seven years, Lending Club has been working hard to grow our first product. Today, we launched the first in what will be a series of new products, designed to address a variety of funding and credit needs in our quest to always be more useful to more people, and over time transform the banking industry to make it more transparent, cost efficient and customer friendly. With this new product, small business owners will have access to customer-friendly, transparent and affordable financing options similar to those Lending Club has been providing on the consumer side since 2007.

Lending Club business loans will range from $15,000 to $100,000 initially, with plans to increase to $300,000 in the future. The loans carry affordable fixed interest rates starting at 5.9% with terms of one to five years, no hidden fees and no prepayment penalties. 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit vasco.com/news/PSD2-compliant-solutionsvisit www.finastra.com

Top retail banking topics

Most viewed Most shared
German fintech factory FinLeap raises EUR39 millionGerman fintech factory FinLeap raises EUR3...
13907 views comments | 19 tweets | 15 linkedin
Mastercard to buy AI outfit BrighterionMastercard to buy AI outfit Brighterion
10130 views comments | 14 tweets | 20 linkedin
Barclays rides payments-as-a-service wave with investment in Form3Barclays rides payments-as-a-service wave...
9044 views comments | 16 tweets | 12 linkedin
Mastercard and Scotiabank join Enterprise Ethereum AllianceMastercard and Scotiabank join Enterprise...
7652 views comments | 25 tweets | 16 linkedin
PayPal strikes deals with Chase and CitiPayPal strikes deals with Chase and Citi
6900 views comments | 9 tweets | 5 linkedin

Featured job

Competitive base, bonus, benefits
London or South-East, UK

Find your next job