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LendingClub’s Update to Borrowers and Investors Amid COVID-19 Pandemic

LendingClub’s Update to Borrowers and Investors Amid COVID-19 Pandemic

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FintechNews RoundupUSA
··1 min read

Given LendingClub is a platform serving borrowers and investors there is a lot of transparency on what changes they are making related to COVID-19; on the borrower side LendingClub is temporarily waiving fees and has ramped up collections and servicing capabilities; one of the other changes includes hardship plans which allows eligible borrowers to make interest only payments; this process can be completed by the borrower online and LendingClub then responds to the request within 7-10 days; LendingClub recently posted a blog post for investors where they shared that interest rates have increased between 2-4%; they have also tightened underwriting and are encouraging investors who invest in high risk loans to consider the impact of cash drag on their portfolio. Lend Academy

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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