Lending Club Completes $600 Million SEC Registration

Business Wire, Oct 14, 2008

SUNNYVALE, Calif. -- Lending Club, an online social lending network, announced today that the registration statement it filed with the Securities and Exchange Commission under the Securities Act of 1933 relating to its social lending platform has been declared effective, and beginning today it will accept new lender member registrations and investments at http://www.lendingclub.com.

The registration is for the offer and sale of up to $600,000,000 in Member Payment Dependent Notes to be issued by Lending Club in a continuous offering starting today. Under this new offering, Lending Club lender members invest in Notes that have stated interest rates of 6.69 to 18.63 percent--after a 1 percent service charge is applied--and which represent portions of loans made to borrower members.

Lending Club is offering the Notes only through its Web site directly to lender members. The Notes will be transferable only through the Note Trading Platform operated by Foliofn Investments, Inc. a registered broker dealer. More detail is available at: http://blog.lendingclub.com/2008/10/14/lending-club-sec-registration/.> Copies of the prospectus for the Notes can be obtained on Lending Club's Web site: http://www.lendingclub.com/extdata/prospectus.pdf.> This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state.

About Lending Club

LendingClub.com is an online social lending network. It won the Webby Award 2008 for the best Banking Web site and has been nominated a Top 100 Innovator by The Industry Standard. Lending Club is headquartered in Sunnyvale, CA. More information is available at: http://www.lendingclub.com.