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LendingClub (NYSE:LC) Effective Interest Rate on Debt %

: 171.38% (As of Mar. 2023)
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Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. LendingClub's annualized positive value of Interest Expense for the quarter that ended in Mar. 2023 was $223 Mil. LendingClub's average total debt for the quarter that ended in Mar. 2023 was $130 Mil. Therefore, LendingClub's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2023 was 171.38%.


LendingClub Effective Interest Rate on Debt % Historical Data

The historical data trend for LendingClub's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

LendingClub Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Effective Interest Rate on Debt %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 13.03 11.13 10.70 11.27 28.78

LendingClub Quarterly Data
Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23
Effective Interest Rate on Debt % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 13.01 17.75 34.93 89.76 171.38

Competitive Comparison

For the Credit Services subindustry, LendingClub's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

LendingClub Effective Interest Rate on Debt % Distribution

For the Credit Services industry and Financial Services sector, LendingClub's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where LendingClub's Effective Interest Rate on Debt % falls in comparison to its industry or sector. The grey bar indicates the Effective Interest Rate on Debt %'s extreme value range as defined by GuruFocus.



LendingClub Effective Interest Rate on Debt % Calculation

LendingClub's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2022 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Dec. 2021 )+Total Debt  (A: Dec. 2022 ))/ count )
=-1  *  -82.515/( (429.993+143.42)/ 2 )
=-1  *  -82.515/286.7065
=28.78 %

where

Total Debt  (A: Dec. 2021 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=402.213 + 27.78
=429.993

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=140.801 + 2.619
=143.42

LendingClub's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Dec. 2022 )+Total Debt  (Q: Mar. 2023 ))/ count )
=-1  *  -222.836/( (143.42+116.631)/ 2 )
=-1  *  -222.836/130.0255
=171.38 %

where

Total Debt  (Q: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=140.801 + 2.619
=143.42

Total Debt  (Q: Mar. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=115.239 + 1.392
=116.631

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


LendingClub  (NYSE:LC) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


LendingClub Effective Interest Rate on Debt % Related Terms

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LendingClub (NYSE:LC) Business Description

LendingClub logo
Traded in Other Exchanges
Address
595 Market Street, Suite 200, San Francisco, CA, USA, 94105
LendingClub Corp is a company engaged in operating an online lending marketplace platform that connects borrowers and investors for the provision of the loan facility. It offers investors access to an asset class that has generally been closed to many investors and only available on a limited basis to institutional investors. The company through the platform offer loan products such as personal, education and patient finance, small business and auto to interested investors. It generates a majority of the revenue from the transaction fees received from the platform's role in accepting and decisioning applications on behalf of the bank partners to enable loan originations.
Executives
Andrew Labenne officer: Chief Financial Officer C/O BAKKT HOLDINGS, INC., 5500 WINDWARD PKWY., SUITE 450, ALPHARETTE GA 30005
Kathryn Reimann director C/O LENDINGCLUB CORPORATION, 595 MARKET ST., #200, SAN FRANCISCO CA 94105
Syed Faiz Ahmad director 7601 SOUTHWEST PARKWAY, AUSTIN TX 78735
Adrienne Harris director 150 NORTH RIVERSIDE PLAZA, SUITE 5200, CHICAGO IL 60606
Allan R Landon director 130 MERCHANT ST 22ND FLR, HONOLULU HI 96813
Erin Selleck director C/O BROADWAY FINANCIAL CORPORATION, 5055 WILSHIRE BLVD. SUITE 500, LOS ANGELES CA 90036
Annie Armstrong officer: Chief Risk Officer C/O LENDINGCLUB CORPORATION, 595 MARKET ST. #200, SAN FRANCISCO CA 94105
Shanda Global Investment Ltd 10 percent owner 303 TWIN DOLPHIN DRIVE, #6054, REDWOOD CITY CA 94065
Michael P Zeisser director
Brandon Pace officer: General Counsel and Secretary C/O LENDINGCLUB CORPORATION, 595 MARKET ST, SUITE 200, SAN FRANCISCO CA 94105
Ronnie Momen officer: Chief Lending Officer C/O LENDINGCLUB CORPORATION, SAN FRANCISCO CA 94105
Valerie Kay officer: Chief Capital Officer C/O LENDINGCLUB CORPORATION, 71 STEVENSON ST, SUITE 1000, SAN FRANCISCO CA 94105
Bahman Koohestani officer: Chief Technology Officer 500 W. MADISON STREET, #1000, CHICAGO IL 60661
Susan C Athey director C/O EXPEDIA, INC., 333 108TH AVE NE, BELLEVUE WA 98004
Shanda Group Usa Ltd 10 percent owner 2735 SAND HILL ROAD, #140, MENLO PARK CA 94025

LendingClub (NYSE:LC) Headlines

Other Sources

LendingClub cuts 14% workforce to pare costs

By Yahoo Finance 2023-01-12