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Axos Bank and LendingClub offer unsecured personal loans to consumers in all 50 states and Washington, D.C. ... LendingClub also operates online and offers lending, banking and investing solutions ...
SoFi began in 2011 as a student-focused lender but has since expanded to offer personal loans and other banking services. LendingClub was founded in 2006 as a peer-to-peer lending platform.
LendingClub originally began as a peer-to-peer lending platform but transitioned to a traditional bank and lender in 2021. Its lower credit score requirements and smaller loan amount of $5,000 ...
At its height, LendingClub was the world's largest peer-to-peer lending platform. [7] The company reported that $15.98 billion in loans had been originated through its platform up to December 31, 2015. [8] LendingClub enabled borrowers to create unsecured personal loans between $1,000 and $40,000. The standard loan period was three years.
Since inception, Lending Club's default rate ranges from 1.4% for top-rated three-year loans to 9.8% for the riskiest loans. [ 33 ] The UK peer-to-peer lenders quote the ratio of bad loans at 0.84% for Zopa of the £200m during its first seven years of lending history.
Marketplace lending company Lending Club works with Opportunity Fund to make loans to small businesses that otherwise would have had their applications rejected. The two organizations aim to provide $10 million in loans to small businesses in underserved areas of 13 states, helping an estimated 400 businesses create more than 1,000 jobs. [4]
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