LendingClub Partners With Google on Small Business Loans

Shortly after a successful initial public offering, LendingClub today announced a new channel partner program with Google that will expand its reach into small businesses. While the vast majority of LendingClub’s loan origination are focused on individuals, a relatively untapped market is small business lending, which only currently accounts for 2 percent of the company’s loans. That could change soon as an early stage investor in LendingClub, Google, will offer LendingClub’s services to its partners that include resellers, consultants and systems integrators. Google purchased an 8 percent stake in LendingClub for $125 million in 2013. Google to offer LendingClub’s services; slightly…