Lending-Club

Lending Club Breaks $1 Million, Expanding

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lendingclub.pngLending Club, the Facebook exclusive person-to-person lending service has passed the $1 million mark in loans to Facebook users. It’s similar to other P2P lending sites Prosper, Zopa, and Kiva.

The milestone comes just short of 3 months since the the site hit the $100,000 mark, and 3 1/2 months since going live as an original Facebook Platform partner.

Lending Club will also announce today that it is expanding beyond Facebook and will now offer similar ways to connect borrowers and lenders through thousands of alumni associations and professional organizations.

The new site includes tools for building diversified loan portfolios composed of pieces of 20 to 30 individual loans, hosts a forum for financial experts to share their knowledge with the Lending Club community, and “Better Rates Together,” a blog community that features expert advice on P2P lending and personal finance.

Lending Club recently secured $10.26 million in Series A financing led by Canaan Partners and Norwest Venture Partners.

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