Enjoying the podcast? Don’t miss out on future episodes! Please hit that subscribe button on Apple, Spotify, or your favorite podcast platform to stay updated with our latest content. Thank you for your support!
Last month I visited San Francisco and brought along my trusty audio recorder for a podcast interview in the Lending Club offices with Scott Sanborn. Sanborn joined Lending Club in 2010 as the Chief Marketing Officer and last year was promoted to Chief Operating Officer. He is responsible for Lending Club’s day to day operations and he has still maintained his marketing role.
We talked about a number of different topics in particular the rapid growth of Lending Club and how they are managing this growth, balancing demand from from the retail and institutional investors, Lending Club PRIME, Policy Code 2 loansand of course, the topic that seems to be on everyone’s mind these days: the Lending Club IPO.
In this podcast you will learn:
- How Lending Club decides the percentage of loans that go to the retail platform versus the whole loan platform.
- How they have been able to scale their borrower supply so dramatically.
- The different channels that provide borrowers to Lending Club.
- Why they don’t look to their existing borrower pool as a driver of new business.
- How Lending Club PRIME works and the changes that were made last year.
- When and how often Lending Club PRIME runs.
- An explanation of Policy Code 2 loans and how they use it.
- When these Policy Code 2 loans may become available to the retail investor.
- How Sanborn feels about the race at “feeding time” when the loans are added to the platform four times a day.
- When and how we will see investor and borrower equilibrium again.
- How the Lending Club IPO will open their platform to investors in all 50 states.