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This statistic highlights LendingClub Corp’s Revenue by Business Vertical, split between Interest Income and Non-interest Income, and is reported quarterly from 2016 onwards.
LendingClub Corporation is a financial technology company headquartered in San Francisco, California. It is a financial services provider that provides an online marketplace for borrowers and investors to connect. It offers a broad selection of loans, ranging from personal loans to student loans and business loans, and is known for its low fees and user-friendly interface.
|Revenue by Business Vertical||2022 Q3||2022 Q4||2023 Q1||Contribution in 2023 Q1|
(All figures in millions, except percentages)
The company generates revenue primarily from Interest Income. However, since 2020, the company earned revenue from both i.e. Interest as well as Non-interest Income. According to the company’s first quarter of 2022, the Interest Income was $202.41 million, representing an 81% increase from the same period in 2022. Whereas, in the first quarter of 2023, Non-interest Income showed a 48% decrease year-over-year.
The Interest Income of LendingClub Corporation consists of the interest on loans and leases held for investment purposes and also includes interest on securities. It is the amount of interest received on loans made to borrowers by the company. This is a recurring source of revenue for the company and is also one of its primary sources.
Lending Club generates Non-interest income from a range of sources, including service fees, late fees, penalty fees, and other revenue. Service fees are charged to borrowers and investors for the use of the platform; while Late fees are charges imposed on borrowers for failing to make payments on time; and Penalty fees are imposed on borrowers for non-compliance with their loan agreements.
About LendingClub Corporation
LendingClub Corporation operates an online marketplace that connects borrowers and investors. Established in 2006, the company is dedicated to providing individuals and small businesses with more accessible and cost-effective credit options. Through its platform, borrowers can apply for loans, such as personal and business loans and auto refinancing. Interest rates are assigned to borrowers based on their creditworthiness, while investors can browse through loan listings and select the loans they are interested in. LendingClub is responsible for the loan origination, servicing, and collection of payments on behalf of investors. One of the key advantages of LendingClub is its peer-to-peer lending model, which eliminates the need for traditional financial institutions and enables borrowers and investors to borrow and lend directly from one another. This model is designed to give borrowers more competitive interest rates and investors with attractive returns.
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