29 May 2017
Visit EBAday.com

Lending Club moves into business loans

20 March 2014  |  1230 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.capgemini.com/worldreportsvisit www.niceactimize.comvisit www.events.sap.com

Top retail banking topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
14226 views comments | 53 tweets | 82 linkedin
R3 raises $107mR3 raises $107m
7605 views comments | 16 tweets | 16 linkedin
TransferWise launches multi-currency business bank accountsTransferWise launches multi-currency busin...
7416 views comments | 12 tweets | 21 linkedin
Digital payments to drive social justiceDigital payments to drive social justice
7220 views comments | 24 tweets | 12 linkedin
Debit cards set to overtake cash in the UK three years ahead of scheduleDebit cards set to overtake cash in the UK...
6909 views comments | 25 tweets | 29 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job