With consumers more angry than ever with credit card companies and big banks, and increasingly worried about another economic downturn, one upstart company has made this into an opportunity.

Lending Club has been going after consumers who have stellar credit histories but have a less than stellar view of credit card companies that don’t reward their good record.  The company also targets investors looking for a low-risk return on their capital. 

Since it opened for business in 2007  the company has attracted big backersincluding Union Square Ventures and Thomvest, the venture fund of Thomson Reuters director Peter Thomson,

 Lending Club recently reported that it passed $400 million in total loan originations.  Less than four months ago that figure stood at $300 million.  The San Francisco based company also reported that the platform has now paid investors more than $33 million in interest.

People turn to Lending Club for lower interest rates than the credit card companies (or any bank) typically offers. Roughly 2/3 of its loans are used by customers to pay off credit card balances. Its loans range from $1,000 to $35,000 with an average size of $10,000.