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A few months ago, I posted a poll asking readers if Lending Club would survive the quiet period. Readers believe by a large margin (31 votes to 11 votes) that Lending Club will survive the quiet period.

I hope that Lending Club will survive as is. I like the P2P lending platform that they built and so far my Lending Club P2P loans are still performing great. Although, I do have my fingers crossed on the loan that was late temporarily.

More interesting than the results are some of the comments received about why Lending Club will survive:

Mike @ Prosperous Land says that despite Lending Club spending a large sum of money during the quiet period keeping the lending side unaffected, they can use those loans as assets:

The main reason I think they’ll survive is that when you loan money to a person, it’s now an asset. What do you do with assets? You take out loans against them.

Lending Club can go to a bank and say “these people owe me money. Can I take out a loan against that?” and I’m pretty sure that they’ll be able to convince at least one or two banks to let them provide the loans as collateral if LC provides some headroom for some loans to go bad (as in, they only borrow 80% of the amount locked up in loans, or something similar).

Tom @ Prosper Lending does not think that they will run out of money (comment link) and think that in the long term it is going to be good for borrowers that Lending Club also has skin in the lending side of the business (link).

A few other visitors were not as positive on Lending Club’s survival.

The poll is open until July 14th: Will Lending Club Survive the Quiet Period?

Update: Daniel @ Step 3 Prophet also thinks that Lending Club will be back.