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Lending Club’s Mission and Financial Performance Report

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Updated: Sep 25th, 2020

Main services

Lending Club is a company that functions in the sphere of finances. The fact is that the evolution of business and many new ventures that are organized by people who want to become successful introduce the increased necessity of the start-up budget that is needed to create the basis for the new market entry. That is why Lending Club connects borrowers with investors using different online services. The company offers loans to businessmen or shareholders in exchange for solid returns (“We’re Here to Help You Succeed”). Besides, the given services are very topical at the moment, as possessing a significant sum of money, individuals will be able to run their business.

Target population

The company serves different people who want to borrow money and organize a certain project. Since 2007, the company provided loans to over 1,5 million different people and helped them to achieve financial wellness (“We’re here to help you succeed “). The great number of customers demonstrates that the company serves mainly people who need money at the moment and who could provide some guarantees that the loan will be returned. There is a tendency towards the further rise in the number of clients as more and more individuals are ready to engage in the given process and become members of the business discourse.

People working for the corporation

Considering the importance of the given sphere of business and several financial operations that are performed in a small period, Lending Club should be ready to process great amounts of data and avoid mistakes. It means that only competent individuals should work there. In this regard, there are specialists in the sphere of banking and loans who can connect investors and people with specific needs. Because it is a completely online service, some individuals can work in the given environment and maintain the website as well as the whole banking system introduced by Lending club.

The mission statement

The company was organized to provide money to people who need a start-up budget to run their own business or devote it to some other projects. For this reason, the companys mission statement is to transform traditional banking over the next decade and guarantee that the increased efficiency of the main operations in the given sphere will be achieved (“What We Do”). Furthermore, the company is also aimed at attempts to save costs to borrowers for them to be able to enjoy the enhanced conditions of loaning and return money in the outlined terms.

Current business performance

At the moment Lending Club is rather successful. Loans funded last quarter could be measured to $1,987,277,745 (“What We Do”). By 12 April 2017 loans funded to date were $24,646,800,629 (“What We Do”). The given sums show that the Lending club is extremely popular and people address it. The company earns money by involving people in their loan mechanisms and assisting them in their activities.

Conclusion

Altogether, the company is a fast-growing project that is rather topical at the moment. It provides people with a unique opportunity to find investors and guarantee the evolution of their projects. Furthermore, the organization helps people to achieve the main business goals and operations. Additionally, Lending Club could be considered an appropriate variant in case a person does not possess any start-up capital and have no chances to run a new business venture. That is why it is possible to predict its further rise.

Works Cited

“We’re Here to Help You Succeed.” LendingClub, Web.

“What We Do.” LendingClub, Web.

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IvyPanda. (2020, September 25). Lending Club's Mission and Financial Performance. https://ivypanda.com/essays/lending-clubs-mission-and-financial-performance/

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"Lending Club's Mission and Financial Performance." IvyPanda, 25 Sept. 2020, ivypanda.com/essays/lending-clubs-mission-and-financial-performance/.

1. IvyPanda. "Lending Club's Mission and Financial Performance." September 25, 2020. https://ivypanda.com/essays/lending-clubs-mission-and-financial-performance/.


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IvyPanda. "Lending Club's Mission and Financial Performance." September 25, 2020. https://ivypanda.com/essays/lending-clubs-mission-and-financial-performance/.

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IvyPanda. 2020. "Lending Club's Mission and Financial Performance." September 25, 2020. https://ivypanda.com/essays/lending-clubs-mission-and-financial-performance/.

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IvyPanda. (2020) 'Lending Club's Mission and Financial Performance'. 25 September.

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