The company said that it now serves retail investors in Nebraska, Indiana and Kansas, bringing its roster of states served to 36, according to a release. The platform links borrowers and investors.
The investments themselves are done as Notes, which account for each fraction of a loan purchased. The company said in its release that its Lending Club Notes have logged historical returns of as much as 5.2 percent to 8.9 percent, with grades assigned of A through C. In addition, among those investors with diversified portfolios and owning at least 100 Notes of similar size, 99.9% have seen positive returns, the company claimed. As has been seen across all states with Lending Club platforms, and extending into the three new aforementioned states, consumers choose either traditional investment or retirement accounts, and they receive monthly payments of both principal and interest as their borrowers repay their loans. The Lending Club participants can withdraw cash tied to these repayments at any time through linked bank accounts.
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