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LendingClub moves offices to Redwood

06 January 2010  |  7409 views  |  0 Source: LendingClub

LendingClub, the world leader in peer-to-peer lending (based on the dollar amount of loans issued each month throughout 2009), announced today that it will move its office this month from Sunnyvale, CA to Redwood City, CA.

"Lending Club is growing rapidly and we are in need of a larger space to accommodate this growth. In addition, we feel that by moving to Redwood City we will be able to draw on the talent pool of both San Francisco/Oakland and the South Bay," said John Donovan, Lending Club's COO.

The move comes as the company tripled in size over the past year and the dollar amount of its loans issued continues to increase. In December 2009, the company issued approximately $7.1 million, or $324k in loans per business day, up from less than $118k in loans per business day during January 2009.

Lending Club brings together investors and creditworthy borrowers, and eliminates the high-cost and complexity of traditional banks, offering borrowers better rates and investors higher returns.

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