created by [email protected]
Allow Lending Club to meet regulatory requirements needed to make its platform available to borrowers nationwide.
Provide private investment funds sevice for accredited investors and qualified purchasers
Mint.com, Credit Sesame, consumer product companies
To match borrowers and lenders based on credit information and borrowers' needs
Need: Know the borrower and the loan better Ans: Provide public and detailed info about the borrower and loan Need: Provide partial fund Ans: Able to make commitments to as many Member Loans as they wanted in increments of $25 Need: An alternative investment for accredited investors Ans: Funds like LCA
Need: Unsecured personal loans Ans: Lending club Need: Low-interest rate Ans: The well-defined credit model and electronic and highly automated operation
1. Provide potential loan information 2. Arrange notes issue
1. Collect and rate information 2. Provide Loans 3. Collect payments through ACH
1. Normal Members 2. Institution Investors 3. Accredited investors and qualified purchasers
Rate from A1(High) to G5(Low)
Credit information is what the grading process and the matching process based on, and also helps further customer analysis.
Users get to know each other through FB
Attract borrowers by partnership with financial service provider
1. General & Administrative
1. Notes and Certificates operation fee 2. Loans Payable (Default) 3. Engineering cost
Fees included loan origination fees to borrowers and a 1% charge on all payments made to investors including principal, interest, and late fees. In addition, Lending Club charged a monthly fee to investors in LCA funds in lieu of a servicing fee.