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Lending Club Offering a Record Number of New Loans
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Lending Club Offering a Record Number of New Loans

Lending Club Offering a Record Number of New Loans

Peter Renton·
News Roundup
·Jun. 11, 2012·1 min read

Total available p2p loans at Lending Club

I have been investing in new Lending Club loans twice a week for quite some time. Usually the number of loans available on the platform vary from around 700 to 1,000 new loans. Sometimes the number falls slightly above or below that range.

But in the last week that has changed. As you can see in the graphic above as of this writing there are now 1,844 new loans available for investors. Lending Club has been cranking up the volume of loans for the last week. On June 3rd there were just 833 new loans available on the platform, so in eight days they have added well over 1,000 loans to the supply. In reality they have added far more than that because Lending Club has issued over 1,200 loans in that time period and those loans have been deleted from the platform.

Investors Can Put More Money to Work

I have pretty strict criteria for my Lending Club investments. When I download the Excel spreadsheet to run my filters I usually invest in 15-20 new loans at a time. Yesterday, that number was 62. For a few weeks cash had been accumulating in my largest account but I was able to put most of that money to work yesterday.

I have spoken to the head of marketing at Lending Club about this phenomenon before. While he doesn’t give away any secrets he has said that marketing levers can be pulled that greatly impact the number of available loans on the platform. In the last week he has certainly been pulling some of those levers. It will be interesting to see if every single one of these loans gets funded over the next two weeks. I am guessing they will.

Looks like another huge month is on tap for Lending Club. Maybe they are looking to break $50 million in June…

  • Peter Renton
    Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

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