Just a few years ago, the peer-to-peer lending market seemed to be just a novel idea that would creatively help a few people obtain financing by crowdsourcing intrepid investors seeking attractive yields on their capital. At the time, the burgeoning industry barely registered a blip on the radar to traditional lending establishments. Fast forward to today, the peer-to-peer lending industry is now well into the billions and exploding at an exponential growth rate. In addition, Lending Club’s IPO filing marks a seminal moment for the industry as one of its largest players in the space goes public with a multi-billion dollar offering. Suffice it to say, the banks are definitely paying attention now.
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