News Formal

LendingClub's Q1 platform update illustrates a difficult period for P2P lenders - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 9 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Despite a challenging quarter, LendingClub is well positioned to ride out the turbulence due to its fast response to the economic crisis

Crowdfund Insider. Three key financial highlights demonstrate the difficult Q1: Loan originations declined 8% in comparison to Q1 2019, net revenue sank 31% during the same period, and net loss was reported at $48.1 million compared to $19.9 million in Q1 2019. What's more, LendingClub has

its revenue growth forecasts for 2020 amid the economic slowdown caused by the coronavirus, after achieving profitability in 2019. lending at the start of April.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks to buy, best trades for end of Q1 earnings season: Goldman Sachs - Business InsiderGOLDMAN SACHS: Traders are reaping unusually large profits from earnings-related stock trades. Here are 15 picks for the remainder of the season.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stocks to buy, best trades for end of Q1 earnings season: Goldman Sachs - Business InsiderGOLDMAN SACHS: Traders are reaping unusually large profits from earnings-related stock trades. Here are 15 picks for the remainder of the season.
Source: BusinessInsider - 🏆 729. / 51 Read more »