January 26, 2015 10:29 PM ET

Internet Software and Services

Company Overview of LendingClub Corporation

Company Overview

LendingClub Corporation operates as an online marketplace that facilitates loans to consumers and businesses in the United States. The company also offers investors an opportunity to fund the loans. As of December 31, 2013, its marketplace had facilitated 240,322 loans. The company was founded in 2006 and is headquartered in San Francisco, California.

71 Stevenson Street

Suite 300

San Francisco, CA 94105

United States

Founded in 2006

380 Employees

Phone:

415-632-5600

Key Executives for LendingClub Corporation

Founder
Age: 43
Total Annual Compensation: $314.6K
Chief Financial Officer and Principal Accounting Officer
Age: 49
Total Annual Compensation: $314.6K
Chief Operating & Marketing Officer
Age: 44
Total Annual Compensation: $314.6K
Chief Risk Officer
Age: 55
Total Annual Compensation: $270.0K
Chief Technology Officer
Age: 44
Total Annual Compensation: $387.5K
Compensation as of Fiscal Year 2013.

LendingClub Corporation Key Developments

LendingClub Corporation Announces Board Changes

LendingClub Corporation announced that Mr. Williams was appointed to replace John C. (Hans) Morris as chair of the company's audit committee and was appointed to the company's risk committee. John C. (Hans) Morris remains on the audit committee. Mary Meeker will no longer serve on the company's audit committee.

LendingClub Corporation Names Simon Williams to the Board of Directors

LendingClub Corporation announced that it is named Simon Williams, former head of Citigroup's Global Consumer Group risk management, back to the Lending Club board of directors. Williams originally joined the Lending Club board in 2010 and had stepped down in 2011 to lead HSBC's retail wealth management business globally. Williams will be retiring from HSBC later this month.

Lending Club Launches AA Super Prime Loans

Lending Club announced the launch of a new 'Super Prime' loan product offering that expands the options available to borrowers with the higher credit quality. This new product line provides a two-year AA term loan for $10,000 or less (with a $1,000 minimum) with a starting interest rate of 3.99% (4.97% APR (Annual Percentage Rate)) to address market demand for a shorter, smaller size term loan, and a three- or seven-year AA term loan for $10,000 up to $50,000 with respective starting interest rates of 4.99% or 5.38% (5.70% APR or 5.99% APR), ideal for larger expenditures such as home improvement projects or energy efficiency upgrades.

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