|By PR Newswire||
|August 12, 2014 01:01 PM EDT||
CHARLOTTE, N.C., Aug. 12, 2014 /PRNewswire/ -- LendingTree's personal loan revenue exceeded the $1 million milestone during the month of July and has increased seven-fold since the July 2013 re-launch of LendingTree's personal loan product, marking personal loans as a prominent revenue source for LendingTree, the nation's leading online loan marketplace. Additionally, the number of personal loan requests submitted through LendingTree on a monthly basis is up 136% year over year. This significant growth in both volume and revenue is attributed to the industry's increasing popularity as well as the company's expanding network of non-bank lenders, which includes peer-to-peer lending platforms such as Prosper and LendingClub, who compete for the borrower's business in LendingTree's marketplace.
"The personal loan industry, led by new lending platforms as well as automated traditional lenders, is changing the face of consumer credit with responsible borrowing alternatives," said Doug Lebda, founder and CEO of LendingTree. "These lenders are offering consumers more attractive rates with a customer experience that's second to none. At LendingTree, consumers can compare options from multiple lenders, regardless of the person's credit. With many lenders on the marketplace, our next goal is to dramatically increase marketing, online and offline, to tell the story to consumers nationwide and help lenders scale their businesses."
LendingTree's personal loan marketplace currently has 11 participating lenders with many more in the pipeline.
"Our partnership with LendingTree has helped us become the fastest growing online marketplace for credit in the United States," said Ron Suber, President of Prosper. "Their ability to connect us with a high volume of creditworthy customers looking for a better way to borrow is unique in this industry."
Since January 2014, LendingTree has tracked the intended loan purposes for borrowers seeking personal loans. Debt consolidation, car finance, home improvement and credit card refinancing are among the most popular loan purposes cited, highlighting the multi-purpose nature of personal loans.
To see LendingTree's new personal loan TV spot, visit www.youtube.com/lendingtree.
About LendingTree, LLC
About LendingTree, LLC LendingTree, LLC is the nation's leading online loan marketplace, empowering consumers as they comparison-shop across a full suite of loan- and credit-based offerings, spanning mortgages, home equity products, auto loans, unsecured personal loans, credit cards, student loans, small business loans and beyond. LendingTree operates an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan for their needs, free of charge. Since its inception, LendingTree has facilitated more than 30 million loan requests and $214 billion in closed loan transactions. LendingTree, LLC is a subsidiary of Tree.com, Inc. (NASDAQ: TREE). For more information go to www.lendingtree.com, dial 800-555-TREE, join our Facebook page and/or follow us on Twitter @LendingTree.
May. 4, 2016 09:00 PM EDT Reads: 1,395
May. 4, 2016 07:30 PM EDT Reads: 1,690
May. 4, 2016 07:00 PM EDT Reads: 1,305
May. 4, 2016 07:00 PM EDT Reads: 1,268
May. 4, 2016 05:30 PM EDT Reads: 1,380
May. 4, 2016 05:15 PM EDT Reads: 389
May. 4, 2016 05:00 PM EDT Reads: 1,318
May. 4, 2016 04:30 PM EDT Reads: 824
May. 4, 2016 03:30 PM EDT Reads: 627
May. 4, 2016 03:00 PM EDT Reads: 1,176
May. 4, 2016 03:00 PM EDT Reads: 1,050
May. 4, 2016 02:00 PM EDT Reads: 1,285
May. 4, 2016 02:00 PM EDT Reads: 1,225
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
May. 4, 2016 01:45 PM EDT Reads: 1,339