Report: Lending Club, Google Discuss Unique Employee Loan Program

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.

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.