Moving beyond personal lending services with a $35,000 limit, peer-to-peer loan site Lending Club has expanded to small-business customers looking to borrow between $15,000 and $100,000.
Chief Executive Renaud Laplanche promised Lending Club's business-loan move in December. It's a major move for the company but likely not the last, since Laplanche also plans to expand into home mortgages, student loans, and other areas.
"Bigger businesses can get large loans from banks, but smaller businesses are not well served by existing banking products from traditional banks," Laplanche said in a statement Thursday. "We … Read more