SAN FRANCISCO, March 11, 2015 /PRNewswire/ -- Lending
Club (NYSE: LC), the world's largest online marketplace
connecting borrowers and investors, today announced the launch
of a partnership with HomeAdvisor, an online home
improvement marketplace where homeowners can connect with
pre-screened local home repair and improvement professionals. Under
this multi-year agreement, Lending Club will be the exclusive
partner providing access to loans for consumers seeking home
improvement project financing through the HomeAdvisor website.
"In recent years there have been remarkably few options
available for consumers to finance their home improvement or
renovation project as the process for obtaining home equity lines
of credit has become increasingly strenuous," said Lending Club
Founder and CEO Renaud Laplanche.
"We're proud to partner with HomeAdvisor to make it easier and more
cost efficient for consumers to improve their homes and lives."
"For 16 years, HomeAdvisor has been the leading online
marketplace for homeowners to find pre-screened local home service
professionals," said Adam Burrows,
SVP of Corporate Strategy at HomeAdvisor. "The partnership with
Lending Club is a valuable addition to our existing offerings and
will enable homeowners to seamlessly get pre-approved loans to help
them achieve their goals of home improvement."
HomeAdvisor matches homeowners with pre-screened, local home
improvement professionals and provides the homeowner with access to
reviews on the professionals from other HomeAdvisor customers.
Lending Club's marketplace will be integrated into the HomeAdvisor
site so that HomeAdvisor customers can get preapproved for project
financing through the Lending Club platform, with fixed monthly
payments and no prepayment penalties, at interest rates starting at
3.99% (4.99% APR).
All loans made by WebBank, a Utah-chartered Industrial Bank, Member FDIC,
Equal Housing Lender. Actual rates depend upon credit score, loan
amount, loan term, and credit usage & history.
About HomeAdvisor
HomeAdvisor.com is a local services home improvement
marketplace providing homeowners the tools and resources for home
repair, maintenance, and improvement projects. HomeAdvisor's
patented ProFinder technology matches homeowner's projects to the
nation's largest network of over 85,000 pre-screened home
professionals; Pro Reviews lets homeowners read verified customer
reviews of home professionals; Instant Booking allows homeowners to
schedule services with background-checked home professionals
online, as well as see pricing for jobs prior to booking; Cost
Guide provides the average cost of home projects coast-to-coast
based on data from real homeowners; and the interior design app
DesignMine provides an inspirational and collaborative platform for
remodeling projects. Additionally, the field service management
software mHelpDesk helps professionals streamline their business
through scheduling, managing, and invoicing tools. Access to all of
HomeAdvisor's resources is free for homeowners, with no membership
or fees required. HomeAdvisor is based in Golden, Colorado, and is an operating business
of IAC (NASDAQ: IACI).
About Lending Club
Lending Club utilizes technology and innovation to reduce costs
and offer borrowers better rates and investors better returns. As
of December 31, 2014, over
$7.6 billion in loans have been
facilitated through the Lending Club platform. The Company has
been prominently recognized as a leader for its growth and
innovation, including being named one of Forbes' America's Most
Promising Companies three years in a row, a CNBC Disruptor two
years in a row, a 2012 World Economic Forum Technology Pioneer, and
one of The World's 10 Most Innovative Companies in Finance by Fast
Company. Lending Club is based in San
Francisco, California. More information is available
at: https://www.lendingclub.com. Currently only residents
of the following states may invest in Lending Club notes: CA, CO,
CT, DE, FL, GA, HI, ID, IL, KY (accredited investors), LA, MA, ME,
MN, MS, MT, NH, NV, NY, RI, SD, UT, VA, VT, WA, WI, WV, or WY.
Some of the statements in this above are "forward-looking
statements." The words "anticipate," "believe," "estimate,"
"expect," "intend," "may," "plan," "predict," "project," "will,"
"would" and similar expressions may identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. The Company may not actually achieve the
plans, intentions or expectations disclosed in forward-looking
statements, and you should not place undue reliance on
forward-looking statements. Actual results or events could differ
materially from the plans, intentions and expectations disclosed in
forward-looking statements. The Company does not assume any
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
Information in this press release is not an offer to sell
securities or the solicitation of an offer to buy securities, nor
shall there be any sale of securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction.
Additional information about Lending Club is available in the
prospectus for Lending Club's notes, which can be obtained on
Lending Club's website at
https://www.lendingclub.com/info/prospectus.action.
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SOURCE Lending Club