Strip away defaults and Lending Club's own cut, and his creditors have earned 9.6% annually pretax, Laplanche says.

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Laplanche added that Lending Club and Google both believed in making market places (like advertising and banking) more transparent.

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Laplanche whipped out his plastic (and paid 18% annual interest) to cover the cost of computers and furniture early on.

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For example, Renaud Laplanche, CEO and founder of Lending Club, estimates that borrowers on his site pay 12% interest rates on average.

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Lending Club was founded by Renaud Laplanche, a French native who worked as a New York securities lawyer before launching database search firm MatchPoint.

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Renaud Laplanche, cofounder and CEO of Lending Club. says his firm declines about 90% of all borrower applications, focusing on the 10% of borrowers with the best credit.

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Renaud Laplanche is a perfect example.

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