Google-Backed Lending Club Brings Peer-To-Peer Lending To Business Loans

Peer-to-peer lending marketplace Lending Club is announcing a major expansion today into business loans.

Lending Club brings together lenders and borrowers who want to cut out banks in the process of investing among peers, has facilitated a total of $3.8 billion in consumer loans, and is growing at a pace of over $750 million a quarter. And the company has more than doubled annual loan volume each year since launching in 2007.

Read full article at TechCrunch.