Mischler Financial Group and strategic partner NYSE DMM “GTS” salute online lending platform LendingClub Corporation (NYSE:LC) for achieving 3 million members and for celebrating this latest milestone by paying off the $40,000 loan taken out by its 3 millionth member, a U.S. Army veteran and law enforcement officer based in Far Rockaway, New York. The occasion was marked with LendingClub CEO Scott Sanborn and his team of company executives ringing the NYSE Opening Bell on Friday June 21 2019.
Mischler Financial Group Managing Director and Head of Capital Markets Robert Karr joined in the celebration at the NYSE and extended company executives with a rousing “Hooah!” Karr stated, “Anytime a firm such as our’s, which is owned and operated by Service-Disabled Veterans, can engage with like-minded public company CEO’s and respective team members who are focused on helping military veterans, we view it as both a privilege and a ‘mission accomplished.’
SAN FRANCISCO, June 21, 2019 /PRNewswire/ — LendingClub Corporation (NYSE: LC), America’s largest online lending marketplace connecting borrowers and investors, today announced that it has helped more than 3 million borrowers on their paths to financial health. In May, Alice K., an army veteran and local law enforcement officer in New York, became LendingClub’s 3 millionth member. Alice took out a $40,000 loan for debt consolidation at a 6 percent APR. To celebrate this milestone, the company has paid off her loan in full.
“I initially came to LendingClub to consolidate my high-interest credit card debt and I’m thrilled that they’ve actually paid off my loan in full,” said Alice K., a LendingClub member from Arverne, New York. “With LendingClub, I’m credit card debt free, and able to use the extra money I’m saving to help pay down my mortgage.”
Since its launch in 2007, LendingClub has facilitated more than $50 billion in loans. In fact, “personal loans are the fastest growing category in consumer finance and our data show that LendingClub is one of the market leaders in new balances originated over the past 10 years,” said Liz Pagel, Senior Vice President and Consumer Lending business leader at TransUnion.
“Every day 40,000 people, like Alice, come to us looking to improve their financial health,” said Scott Sanborn, CEO of LendingClub. “We make it easy for them to find savings and take back control over their financial lives and futures. We’re able to deliver this value to our customers at an accelerating rate. It took us 8 years to reach our first million borrowers, 2 years to reach our second million and little more than a year to reach our third million. We’re excited to see Alice’s financial journey progress and celebrate all our members for taking that first step towards financial independence.”