Mind of Capital One Bank Small Company Lending Joins Lending Club

Credit platform appoints Sid Jajodia as VP, business

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Oct 16, 2013, 08:00 ET

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BAY AREA , Oct. 16, 2013 /PRNewswire/ — Lending Club today announced so it has appointed Sid Jajodia as vice president, small company. Jajodia formerly served being a senior vice president at Capital One Bank, where he oversaw business lending. He serves from the board associated with small company Financial Exchange, a market consortium made up of small company lenders formed to market the rise and health regarding the business credit industry that is small. At Lending Club, he can simply take a role that is leading the launch of your small business financing platform prepared for 2014.

«smaller businesses are driving both economic development and work creation, yet are struggling to get into capital,» said Lending Club CEO Renaud Laplanche . «We will be Lending that is using Club low priced operations to create credit more available and much more affordable for small enterprises and deliver a radically enhanced client experience. Our company informative post is delighted to welcome Sid as being a key person in the group.»

Lending Club has facilitated significantly more than $2.6 billion in customer loans up to now, and intends to roll down a small company loan platform year that is next. Lending Club continues to cultivate quickly with $203 million in brand brand new loans given through its platform in September 2013 . The working platform’s growth happens to be fueled by borrowers searching for reduced prices and payments that are fixed and investors searching for yield.

«small businesses deserve a far better experience and a much better deal compared to the old-fashioned bank system can offer,» said Jajodia. «Lending Club gets the technology together with concentrate on customer care needed to profoundly transform small company financing and I also have always been delighted become joining the group.»

While at Capital One, Jajodia invested over 12 years in several credit, strategy and marketing functions across small company and consumer lending. Lately, he had been the pinnacle of small company financing at Capital One Bank where he successfully leveraged a strategy that is information-based transform their risk administration approach. He could be a graduate of Pennsylvania State University’s Smeal university of company.

About Lending Club

Lending Club utilizes technology and innovation to cut back the expense of conventional banking and provide borrowers better prices and investors better returns. Each year since launching in 2007 over $2.6 billion in personal loans have been issued through the Lending Club platform, which has more than doubled annual loan volume. The organization is profitable and has now been prominently thought to be a frontrunner because of its development and innovation, including being known as one of Forbes’ America’s Most Promising Companies last year and 2012, a 2012 World Economic Forum tech Pioneer, and one around the globe’s 10 most companies that are innovative Finance by Fast Company in 2013. Lending Club is situated in bay area, California . More info can be obtained at: Presently just residents associated with the after states may spend money on Lending Club notes: CA, CO, CT, DE, FL, GA, HI, ID, IL, KY (accredited investors), LA, MN, MO, MS, MT, NH, NV, NY, RI, SD, UT, VA, WA, WI, WV, or WY.

A number of the statements in this above are «forward-looking statements.» The terms «anticipate,» «believe,» «estimate,» «expect,» «intend,» «may,» «plan,» «predict,» «project,» «will,» «would» and comparable expressions may determine forward-looking statements, but not all forward-looking statements have these distinguishing words. The organization may not really achieve the plans, motives or objectives disclosed in forward-looking statements, and you ought to maybe not spot reliance that is undue forward-looking statements. Actual outcomes or occasions could vary materially through the plans, intentions and objectives disclosed in forward-looking statements. The business doesn’t assume any responsibility to update any forward-looking statements, whether because of brand brand new information, future activities or perhaps, except as needed for legal reasons.

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