San Francisco-based peer-to-peer lending platform Lending Club is reportedly in talks with Google to help it leverage its cash reserves to offer employees low-interest loans, sources told AllThingsD on December 22.
For Lending Club, the program is part of a company strategy to go beyond peer-to-peer loans by catering to large institutions. Google responded to requests to comment from AllThingsD but did not address whether it would partake in such a program.
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Further, Lending Club’s CEO told the media outlet that it is not currently working with Google on such a project.
In past statements, the company has indicated that such programs could allow employees to lower their interest rates on credit cards and loans, and thus potentially serve as a recruiting and hiring tool.
For more on Lending Club’s nascent program and what it could mean for the company, read the full report here.
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