Technically Speaking

Lending Club is announcing a partnership with the Georgia Tech, Kansas State and the University of Michigan.

While rocketing to the top in approximately 100 days as people-to-people (P2P) lending service via Facebook, today they are announcing the availability of its community-based lending service through the websites of top university alumni associations. This will expand the choices of lending and borrowing money among fellow alumni. Lending Club is the first in the P2P lending industry to provide co-branded lending applications to online communities.

Lending Club launched at the end of May exclusively as a Facebook application. Since then, the Lending Club community has rapidly grown beyond Facebook to more than 22,000 users who have loaned and borrowed more than $2 million within the community.

Their service is available to individual borrowers with credit scores at or above 640. Using Lending Club, borrowers can apply for personal loans of $500 to $25,000 to be funded by one or many individual lenders. To date lenders have funded 90 percent of all approved loan requests. Lending Club handles user authentication, bank account verification, credit checking, credit reporting, funds transfers and collections.

Lending Club is headquartered in Sunnyvale, CA. They recently had a round of funding ($10.26 million) by Norwest Venture Partners and Canaan Partners.

Full Disclosure: Rex Dixon is the Director of Social Media Content for Lending Club

It’s alive and kicking! It went nowhere. It’s still in the same spot as always. As Lending Club has branched outside of Facebook now, the trick was that the old “www” site was forwarded directly to the “blog” subdomain. Easy enough to do, and it appears that now more people have enjoyed p2p lending via the “www” site without Facebook.

I’m happy for that fact, but I also wanted to let you know the blog is doing well. We still have 2 great articles per day (our latest from this morning), and one on Saturday (here is last Saturday’s post - seriously, sailing without Rex Dixon!). I have been posting all the articles on a forum over on p2pnobank.

I just have a running thread (post) that I update. There you can see what has been going on as far as blogging on the Lending Club blog all in one place. Oh, and the blog had a facelift to look like the “www” site somewhat.

Technically Speaking, p2p lending is here to stay, and as you see by the p2pnobank forums, there are many choices. I for one think Lending Club has taken the social media aspect to another level in the p2p lending realm. Well that and as everyone knows, *Full Disclosure time* I am the Director of Social Media Content on Lending Club.

Lending Club, the Sunnyvale, CA p2p lending company who I have had the pleasure of working for as their Director of Social Media Content has announced this morning that they just surpassed $1 million in loans, as well as turning it up a notch by going LIVE and WORLDWIDE*. That’s like me, Rex Dixon who is also “Live and Worldwide”.

I couldn’t have stated it any better than I did on Pownce as well as the LendingClubber twitter, as well as my own twitter account. Please go read, and for those that went to the “www” site to read the blog, you will have to go to the “blog.” to read the blog. NOW of course, if you have been very interested in p2p lending, but are a Facebook hater, well now is your time.

The story broke by accident last night. Why is that? Well what happened is the IT guru’s at LC decided to just do the simple DNS switch and stop forwarding the “www” address to the “blog.” address.

This was found out and the story broke on one of my favorite blogs last evening. Allen was doing his job and reading blogs, catching up on news, and he was there to see the switch. Great blogging man, and kudos to you. I’m sorry I had to be vague in our chat last night. He also updated the news, as any great blog should, this morning!

The offical PR Newswire story, the TechCrunch coverage, and I’m sure more will follow today.

Technically Speaking, if you have ever been interested in p2p lending, but you were Facebook shy - now is the the time to get in on the credit crunch breaker - Lending Club, LIVE and WORLDWIDE* and ready to service your p2p lending business.

* - Lending Club can only conduct business currently in the United States where it has been licensed. This business has a lot of regulations, and not all states have approved the license at this time.

Also covered on TC
Also covered on VB
Also covered on Wiseclerk
Also covered on BankBlast

Lending Club closed out its first loan. Read about it here.

*Rex Dixon works for Lending Club; full disclosure stuff! *

Technically Speaking, p2p lending is on an upswing. Oh, and if you would have been following on twitter; you already knew this over a hour ago.