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It's like **SoFi, but with a deeper heritage as an online marketplace for loans connecting individual borrowers and investors.**

Think of it as **a digitally-focused bank similar to Capital One, offering a wide array of personal, business, and commercial loans.**

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• Commercial Loans: LendingClub provides various loans to businesses, including commercial and industrial, commercial real estate, small business, and equipment loans.
• Equipment Leases: The company offers financing solutions for businesses to acquire equipment through leasing arrangements.
• Consumer Loans: LendingClub provides loans to individuals, such as unsecured personal loans, auto loans, patient finance loans, and education finance loans.
• Online Lending Marketplace: It operates a digital platform that connects borrowers seeking loans with investors willing to fund those loans.

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LendingClub (LC) primarily serves individuals and small to medium-sized businesses with a range of lending products. As the company does not typically sell to named large corporations, its major customers can be described by the following categories:

• Individuals seeking personal financing: This broad category includes individuals looking for unsecured personal loans (for purposes such as debt consolidation, major purchases, or unexpected expenses), auto loans, patient finance loans (to cover medical expenses), and education finance loans.
• Small and Medium-sized Businesses (SMBs): This category encompasses businesses seeking various types of commercial financing, including commercial and industrial loans, commercial real estate loans, general small business loans for working capital or expansion, and equipment loans or leases.

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• Fiserv, Inc. (FI)
• Fidelity National Information Services, Inc. (FIS)
• Equifax Inc. (EFX)
• TransUnion (TRU)
• Experian plc (EXPN)

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Scott Sanborn
Chief Executive Officer

Appointed LendingClub CEO in 2016, Scott Sanborn joined the company in 2010. He previously held executive roles as Chief Marketing Officer, Chief Operations Officer, and President, guiding the company through a period of significant growth that led to its 2014 IPO and the 2021 acquisition of Radius Bank. Before his tenure at LendingClub, Sanborn served as Chief Revenue Officer for publicly traded eHealth Insurance and President of RedEnvelope, Inc.

Drew LaBenne
Chief Financial Officer

Drew LaBenne was named LendingClub's Chief Financial Officer in July 2022, assuming the role on September 1, 2022. He brings over 25 years of experience in financial services. Prior to joining LendingClub, LaBenne was the CFO of Bakkt (NYSE: BKKT), a digital asset marketplace, where he facilitated its public listing. He also served as CFO of Amalgamated Bank, leading it through its IPO, and was a Managing Director and CFO of JPMorgan Chase's Business Banking division. Earlier in his career, he spent 17 years at Capital One Financial, holding various divisional CFO roles including CFO of Retail Banking.

Tina Wilson
Chief People Officer

As Chief People Officer, Tina Wilson is responsible for LendingClub's workplace initiatives, including recruiting, culture, employee engagement, development, and organizational design. During her time at LendingClub, which she joined in 2015, Wilson has overseen the opening of new offices, managed the integration of acquisitions like Radius Bank, and secured multiple workplace awards. Before LendingClub, she was a Director at Daversa Partners, an executive search firm specializing in leadership recruiting for venture-backed companies.

Mark Elliot
Chief Customer Officer

Mark Elliot serves as LendingClub's Chief Customer Officer, overseeing the company's brand, communications, and banking teams to ensure a consistent brand narrative and engaging member experiences. He has more than 20 years of experience in marketing, branding, and business strategy, having worked with large financial services companies and emerging industries. His prior roles include Chief Sales & Marketing Officer at Bakkt, Chief Marketing Officer at Biocatch, and CMO at TIAA. Elliot also held leadership positions at JP Morgan Chase and Capital One, contributing to digital banking transitions and expanding retail banking.

Dov Haselkorn
Chief Risk Officer

Dov Haselkorn is the Chief Risk Officer at LendingClub. He is responsible for the company's risk management framework. Haselkorn's role involves overseeing and mitigating various risks to the organization. He became a reporting insider for LendingClub as Chief Risk Officer, as indicated by a Form 3 filing on March 2, 2026.

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The key risks to LendingClub's business include:

1. Consumer Credit Quality and Macroeconomic Conditions: LendingClub's business model is heavily reliant on the personal loan segment, making it highly sensitive to the consumer credit cycle. A downturn in macroeconomic conditions, such as a significant rise in unemployment, could lead to a rapid increase in loan delinquencies and credit losses. The company has increased its provision for credit losses to prepare for such macroeconomic uncertainties.

2. Regulatory and Compliance Risks: As a regulated bank holding company operating a digital marketplace, LendingClub faces extensive and evolving regulatory oversight. This includes potential risks from changing interest-rate caps, increased scrutiny of AI-driven lending models and fair lending practices, and potential litigation, such as ongoing FTC actions. Future regulatory changes, like the 2026 shift to fair-value accounting for held-for-investment loans, could also introduce increased earnings volatility and compliance costs.

3. Funding and Marketplace Investor Demand: LendingClub's hybrid bank and marketplace model depends on its ability to maintain low-cost deposit funding and attract consistent demand from institutional investors for loan sales. A sudden withdrawal of brokered deposits or a decrease in investor appetite for loans originated through its platform could force LendingClub to either use more of its own capital to fund loans, thereby increasing its credit risk exposure, or reduce its loan origination volume, impacting revenue.

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The clear emerging threat for LendingClub (LC) is the accelerating expansion of major technology companies (e.g., Apple, Amazon, Google) into financial services and lending. These companies leverage their immense user bases, proprietary data, seamless ecosystem integration, and significant capital to offer financial products, directly competing with LendingClub's offerings. Examples include Apple Pay Later, which competes with point-of-sale financing and smaller personal loans, and Amazon Lending for small businesses. This trend introduces competitors with fundamentally different business models, scale, and customer acquisition capabilities, posing a significant risk of market share erosion and increased competitive pressure on pricing and user experience for LendingClub, particularly in its consumer and small business lending segments.

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The addressable markets for LendingClub's main products and services in the U.S. are as follows:

• Commercial and industrial loans: The market for commercial and industrial loans in the U.S. was approximately $2,789.61 billion in February 2026.
• Commercial real estate loans: Total commercial real estate mortgage borrowing and lending in the U.S. was estimated at $498 billion in 2024.
• Small business loans: The U.S. small business loan market was valued at $245.39 billion in 2023 and is projected to reach $349.64 billion by 2033.
• Equipment loans/leases: The U.S. equipment finance industry expanded to an estimated $1.34 trillion in 2023.
• Unsecured personal loans: As of Q1 2025, the U.S. unsecured personal loans market represented $253 billion.
• Auto loans: The U.S. auto loan market size is projected to be $676.20 billion in 2025.
• Patient finance loans: The market size of Medical Patient Financing in the U.S. was $18.2 billion in 2025.
• Education finance loans: Total student loan debt in the United States, representing the education finance market, reached $1.833 trillion in Q3 2025.

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Here are 3-5 expected drivers of future revenue growth for LendingClub (LC) over the next 2-3 years:

1. Increased Loan Originations and Marketing Expansion: LendingClub anticipates significant growth in loan originations, targeting $11.6 billion to $12.6 billion for the full year 2026, representing a 21% to 31% year-over-year increase. This expansion is primarily fueled by accelerated marketing investments and the scaling of paid marketing channels, aimed at attracting more borrowers.
2. Product Innovation and Expansion into New Markets: The company is focused on product innovation and strategic market expansion. A key initiative includes its entry into the home improvement financing market, with technology integration and a distribution partnership already secured and expected to launch mid-year. LendingClub also introduced a "rated structured certificate product" in 2025 and established direct forward flow agreements with major insurance companies to diversify funding sources.
3. Growth in Net Interest Income from Bank Balance Sheet Expansion: LendingClub expects continued growth in net interest income, driven by the expansion of its bank balance sheet. Net interest income reached an all-time high in Q4 2025, increasing 14% year-over-year, and this recurring revenue stream is projected to grow further as the company leverages its capital and liquidity.
4. Enhanced Marketplace Activity and Investor Demand: The online lending marketplace is a robust growth driver, benefiting from strong loan investor demand and improved loan sales prices. LendingClub's reputation for strong credit performance and innovative solutions continues to attract and engage marketplace investors, contributing to higher noninterest income.
5. Leveraging AI Efficiencies and Operational Discipline: The company is implementing AI-driven operations and maintaining stringent operational discipline. These efforts are expected to enhance LendingClub's earnings capacity by improving efficiency, optimizing cost structures, and potentially enabling more competitive product offerings, thereby supporting overall revenue growth.

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Share Repurchases

• LendingClub authorized a share repurchase program of up to $100 million of common stock, which is slated to run through December 31, 2026.
• The Board of Directors approved this share repurchase plan on November 4, 2025.
• In the fourth quarter of 2025, approximately $12 million was utilized for buybacks under the approved $100 million program.

Inbound Investments

• In October 2025, LendingClub announced that investment advisors are expected to invest up to $1 billion through its marketplace programs through 2026.
• LendingClub established its first direct forward flow agreement with a major U.S. insurance company in Q4 2025, supplementing prior agreements with BlackRock and Blue Owl.
• Senvest Management increased its stake in LendingClub to 3.7%, holding 4.3 million shares, as of March 2026.

Outbound Investments

• LendingClub Corporation acquired Radius Bank in 2021, which led to the establishment of LendingClub Bank, National Association.
• A one-time, post-tax $3.2 million non-cash impairment expense was recorded in the fourth quarter of 2024 for internally-developed software, resulting from the earlier acquisition of Tally.