Lending Club Performance Data

The latest data from Lending Club indicates lenders are currently being paid and mostly on time. The data derived from Mat 24, 2007 to March 28, 2008 shows a default rate of 0.00% and a late loan rate of 0.64%. A late loan is defined as payments over 45 days old. Even more revealing is that the percentage of late loans for loans graded "A" stands at 0.00%. The highest percentage of late loans was for loans graded "C" which came in at 1.61%. The Lending Club platform has not yet stood the test of time or economic recession, but the early returns for lenders are solid.