The Lending Club is a Facebook exclusive person-to-person lending service that launched with F8 on May 24. “Since its inception it has closed 28 loans for a total of $101,250. An additional $212,650 in loans will close in the next 12 days. More than $180,000 is currently available from 271 lenders with around 10-15 new lenders transferring money to Lending Club every day.” “The Facebook platform has allows Lending Club to enabling lenders to find borrowers within shared networks. Lending Club uses technology to pair the two parties based on shared connections without giving lenders direct access to the borrowers Facebook profile.” “P2P lending is a rapidly growing market. Lending Club faces stiff competition from companies such as Zopa, CircleLending and Prosper. Although it may not be the market leader in terms of volume, Lending Club’s growing success demonstrates the potential of Facebook as a sales and finance platform.”
[Via TechCruch]
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