152-711: LendingClub is a financial services company headquartered in San Francisco, California . It was the first peer-to-peer lender to register its offerings as securities with the Securities and Exchange Commission (SEC), and to offer loan trading on a secondary market. At its height, LendingClub was the world's largest peer-to-peer lending platform. The company reported that $ 15.98 billion in loans had been originated through its platform up to December 31, 2015. LendingClub enabled borrowers to create unsecured personal loans between $ 1,000 and $ 40,000. The standard loan period
304-534: A Chicago meat-packing company, decided to open its first fruit-packing factory in Sunnyvale. Today, a water tower painted to resemble the first Libby's fruit cocktail can label identifies the former site of the factory. Also in 1906, the Joshua Hendy Iron Works relocated from San Francisco to Sunnyvale after the company's building was destroyed by fire after the 1906 earthquake. The ironworks
456-422: A Small Business Administration (SBA) Lender since 2009, primarily focused on lending in the northeast region of the U.S. In May 2016, the bank expanded its SBA lending program nationally with the establishment of a new government-guaranteed lending team. In December 2016, the bank acquired the equipment financing division of NewStar Financial. On 29 October 2020, the bank has progressed its partnership with
608-680: A peer-to-peer lending company based in Shanghai . In 2012, the company employed about 80 people, with Renaud Laplanche continuing as the company CEO and chairman of the Board of Directors. The company averaged about $ 1.5 million in loan originations daily, with a total of $ 600 million since its founding. In April 2012, LendingClub's SEC registration from 2008 was renewed for $ 1 billion USD in Member Payment Dependent Notes and became effective on April 10, 2012. In June 2012,
760-413: A social networking service and set up opportunities for members to identify group affinities, based on a theory that borrowers would be less likely to default to lenders with whom they had affinities and social relationships. It developed an algorithm called LendingMatch for identifying common relationship factors such as geographic location, educational and professional background, and connectedness within
912-428: A "quiet period" while it awaited approval to issue promissory notes to lenders. On June 20, 2008, LendingClub filed an S-1 statement with the U.S. Securities and Exchange Commission (SEC) seeking the registration of $ 600 million in "Member Payment Dependent Notes" to be issued on its website. On August 1, 2008, LendingClub filed an amendment to its Form S-1 outlining new interest rate formulas as well as more details on
1064-557: A "resale trading system". On October 14, 2008, LendingClub announced its completion of the SEC registration process, posted the filed prospectus on its website, and resumed new lender registration. Notes issued on or after October 14, 2008 represent LendingClub securities rather than direct obligations of the ultimate borrower and are tradable (can be bought and sold) on the Foliofn trading platform. In March 2009, LendingClub raised $ 12 million in
1216-442: A 103-foot (31 m) tall cross built in 1934. Dominating this area is Sutro Tower , a large red and white radio and television transmission tower reaching 1,811 ft (552 m) above sea level. The nearby San Andreas and Hayward Faults are responsible for much earthquake activity, although neither physically passes through the city itself. The San Andreas Fault caused the earthquakes in 1906 and 1989. Minor earthquakes occur on
1368-404: A Series B funding round led by Morgenthaler Ventures . In April 2010, the company raised $ 24.5 million in a Series C funding led by Foundation Capital and joined by existing investors including Morgenthaler Ventures, Norwest Venture Partners and Canaan Partners. In August 2011, LendingClub raised an additional $ 25 million in venture capital from Union Square Ventures and Thomvest, owned by
1520-623: A common place to live for people employed in Silicon Valley companies such as Apple and Google . The early 2020s featured an exodus of tech companies from Downtown San Francisco in the wake of the COVID-19 pandemic and struggles with homelessness and public drug use. Although some observers have raised the possibility that office vacancies and declining tax revenues could cause San Francisco to enter an economic doom loop , other sources have refuted this broad-based characterization of
1672-647: A flood of treasure seekers (known as "forty-niners," as in "1849"). With their sourdough bread in tow, prospectors accumulated in San Francisco over rival Benicia , raising the population from 1,000 in 1848 to 25,000 by December 1849. The promise of wealth was so strong that crews on arriving vessels deserted and rushed off to the gold fields, leaving behind a forest of masts in San Francisco harbor. Some of these approximately 500 abandoned ships were used at times as storeships , saloons , and hotels; many were left to rot, and some were sunk to establish title to
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#17327915661621824-458: A fort on Alcatraz Island to secure San Francisco Bay. San Francisco County was one of the state's 18 original counties established at California statehood in 1850. Until 1856, San Francisco's city limits extended west to Divisadero Street and Castro Street, and south to 20th Street. In 1856, the California state government divided the county. A straight line was then drawn across the tip of
1976-599: A given social network. After registering with the SEC, LendingClub stopped presenting itself as a social network and maintaining that social affinity will necessarily reduce the defaulting risk. It now presents the algorithm just as a search tool for investors to find Notes they would like to purchase, using borrower and loan attributes such as the length of a loan term, target weighted average interest rate, borrower credit score, employment tenure, homeownership status, and others. To reduce default risk, LendingClub focuses on high-credit-worthy borrowers, declining approximately 90% of
2128-484: A gourmet marketplace. San Francisco has a warm-summer Mediterranean climate ( Köppen : Csb , Trewartha : Csll), characteristic of California's coast, with moist winters and dry summers. San Francisco's weather is strongly influenced by the cool currents of the Pacific Ocean on the west side of the city, and the water of San Francisco Bay to the north and east. This moderates temperature swings and produces
2280-538: A land area of 46.9 square miles (121 square kilometers) at the upper end of the San Francisco Peninsula , making it the second-most densely populated major U.S. city behind New York City and the fifth-most densely populated U.S. county , behind four of New York City's boroughs . Among the 92 U.S. cities proper with over 250,000 residents, San Francisco is ranked first by per capita income and sixth by aggregate income as of 2022. San Francisco anchors
2432-566: A large African American population after World War II . The Western Addition is usually divided into smaller neighborhoods including Hayes Valley , the Fillmore , and Japantown , which was once the largest Japantown in North America but suffered when its Japanese American residents were forcibly removed and interned during World War II. The Western Addition survived the 1906 earthquake with its Victorians largely intact, including
2584-656: A light rail and bus network , in tandem with the BART and Caltrain systems, connects nearly every part of San Francisco with the wider region. San Francisco, which is Spanish for "Saint Francis," takes its name from Mission San Francisco de Asís , which in turn was named after Saint Francis of Assisi . The mission received its name in 1776, when it was founded by the Spanish under the leadership of Padre Francisco Palóu . The city has officially been known as San Francisco since 1847, when Washington Allon Bartlett , then serving as
2736-599: A magnet for America's counterculture movement . Beat Generation writers fueled the San Francisco Renaissance and centered on the North Beach neighborhood in the 1950s. Hippies flocked to Haight-Ashbury in the 1960s, reaching a peak with the 1967 Summer of Love . In 1974, the Zebra murders left at least 16 people dead. In the 1970s, the city became a center of the gay rights movement , with
2888-599: A major industry in the county. The invention of the refrigerated rail car further increased the viability of an economy based upon fruit. The fruit orchards became so prevalent that in 1886, the San Jose Board of Trade called Santa Clara County the "Garden of the World". In the 1880s, Chinese workers made up roughly one third of the farm labor in Santa Clara County. This percentage reduced over time after
3040-828: A member of the NYCE SUM ATM network. LendingClub formerly had one physical banking branch located in Boston when it was operating as Radius Bank. Customers have access to online banking and mobile apps available for iOS and Android devices and offers free ATM reimbursements worldwide. The bank launched its first fintech partnership with LevelUp in 2013. This was followed by a partnership with Prosper to provide personal loans in 2015. Radius Bank launched another fintech partnership in July 2015 with Aspiration. LendingClub Bank provides depository services and financing to small and middle market businesses. The bank has been
3192-417: A new project called "Scale", focused on delivering representative samples of loans instead of individual loans - labeled its "Select" program. LendingClub had grown to $ 10.8 billion in annual loan originations in the year 2018. In April 2020, the company announced it would lay off around one third of its employees in anticipation of the economic downturn resulting from the COVID-19 pandemic. In August 2020,
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#17327915661623344-725: A number of ground-floor businesses, and the lawsuit against Wells Fargo was resolved in the bank's favor. The development was sold to Sares Regis in late 2016. Redwood Square reopened as a park in 2017. Many apartments are occupied, and more are being completed in 2020. A Whole Foods Market and AMC Theatres multiplex opened in October 2020. In the 2010s, Sunnyvale became home to operations from numerous major technology companies including Apple , LinkedIn (now headquartered in Sunnyvale), Google , Amazon , Meta , Walmart Labs , and 23andMe . Google announced major development plans in
3496-454: A population of 155,805. The population density was 6,596 inhabitants per square mile (2,547/km ). The racial makeup of Sunnyvale was 46,551 (29.9%) White , 2,228 (1.4%) African American , 1,081 (0.7%) Native American , 77,842 (49.9%) Asian , 491 (0.3%) Pacific Islander , 14,181 (9.1%) from other races , and 13,431 (8.6%) from two or more races. Hispanic or Latino of any race were 25,372 persons (16.3%). Non-Hispanic Whites were 27.8% of
3648-440: A port and naval base, post-Conquest San Francisco was still a small settlement with inhospitable geography. Situated at the tip of a windswept peninsula without water or firewood, San Francisco lacked most of the basic facilities for a 19th-century settlement. These natural disadvantages forced the town's residents to bring water, fuel and food to the site. Its 1847 population was said to be 459. The California gold rush brought
3800-424: A regular basis. The threat of major earthquakes plays a large role in the city's infrastructure development. The city constructed an auxiliary water supply system and has repeatedly upgraded its building codes, requiring retrofits for older buildings and higher engineering standards for new construction. However, there are still thousands of smaller buildings that remain vulnerable to quake damage. USGS has released
3952-470: A remarkably mild year-round climate with little seasonal temperature variation. Sunnyvale, California Sunnyvale ( / ˈ s ʌ n i v eɪ l , v əl / ) is a city located in the Santa Clara Valley in northwest Santa Clara County in the U.S. state of California . Sunnyvale lies along the historic El Camino Real and Highway 101 and is bordered by portions of San Jose to
4104-401: A result of the problematic loans. LendingClub's stock price fell by a further 34 percent after Laplanche's departure was announced. This placed the stock price at 70 percent of the price at the time of the firm's initial public offering. As a result of the incident, the Securities and Exchange Commission was reported to be investigating LendingClub's disclosures to investors. In December 2017,
4256-491: A scandal over some of the firm's loans and concerns by the board over CEO Renaud Laplanche's disclosures leading to a large drop in its share price and Laplanche's resignation. In 2020, LendingClub acquired Radius Bank and announced that it would be shutting down its peer-to-peer lending platform. Existing account holders will continue to collect interest on existing notes until each loan is paid off or goes into default, but no new loans are available for individual investing. It
4408-603: A significant portion of the Comstock Lode 's gold and silver mines, establishing a virtual monopoly. Using his incredible clout, Ralston was able to generate millions of dollars for San Francisco during its heady boom years. He founded the Bank of California , the first bank in the Western United States, and built the opulent Palace Hotel, a symbol of San Francisco's newfound prosperity and the largest hotel in
4560-528: A spacious public park, resulting in plans for Golden Gate Park . San Franciscans built schools, churches, theaters, and all the hallmarks of civic life. The Presidio developed into the most important American military installation on the Pacific coast. By 1890, San Francisco's population approached 300,000, making it the eighth-largest city in the United States at the time. Around 1901, San Francisco
4712-679: A stake in LendingClub. LendingClub also began partnering with smaller banks in order to help streamline their small loans operations. In June 2013 the company partnered with Titan Bank in Texas and Congressional Bank in Maryland in order to help them facilitate loans that would have been otherwise unprofitable for them. In March 2014, LendingClub began providing loans to small businesses . In April 2014 LendingClub acquired Springstone Financial. On August 27, 2014, LendingClub filed for an IPO with
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4864-545: A total of 21.9 million visitors. It is known for its steep rolling hills and eclectic mix of architecture across varied neighborhoods , its Chinatown and Mission districts, its cooling summers, fog , and landmarks including the Golden Gate Bridge , cable cars , and Alcatraz . The city is home to a number of educational and cultural institutions, such as the University of California, San Francisco ,
5016-489: A traditional downtown shopping district. After years of successful operation, the mall started to decline in the 1990s. After numerous changes in plans and ownership, the mall was demolished in 2007. Sunnyvale celebrated its one-hundredth anniversary on August 25, 2012. According to the Bay Area Census, there was a total population of 130,885 people in households and 875 people in group quarters in 2000. In 2023,
5168-484: A wave of " Manhattanization " that lasted until the late 1980s, a period of extensive high-rise development downtown. The 1980s also saw a dramatic increase in the number of homeless people in the city, an issue that remains today, despite many attempts to address it. The 1989 Loma Prieta earthquake caused destruction and loss of life throughout the Bay Area. In San Francisco, the quake severely damaged structures in
5320-595: A wheat farm and ranch named Bay View. Murphy had the first wood-frame house in Santa Clara County ; it was shipped from New England . The house was demolished in 1961 but was reconstructed in 2008 as the Sunnyvale Heritage Park Museum . When he died in 1884, his land was divided among his heirs. In 1860, The San Francisco and San Jose Rail Road was allowed to lay tracks on Bay View and established Murphy Station. Lawrence Station
5472-546: Is 14.08%, default rate 3.39%, and an average net annualized return (net of defaults and service fees) of 8.93%. The average returns of investment for LendingClub lenders are between 5.47% and 10.22%, with 23 straight quarters of positive returns as of the second quarter of 2013. LendingClub operates an online-focused community bank headquartered in Lehi, Utah . LendingClub is a member of the FDIC and an Equal Housing Lender as well as
5624-605: Is also no longer possible to sell existing loans through a secondary marketplace, as was once the case. LendingClub was initially launched on Facebook as one of Facebook's first applications. After receiving $ 10.26 million in a Series A funding round in August 2007, from venture capital investors Norwest Venture Partners and Canaan Partners , LendingClub was developed into a full-scale peer-to-peer lending company. On April 8, 2008, LendingClub temporarily suspended new lender registration, canceled its affiliate program and entered
5776-494: Is essentially their original form, but most of the city's natural watercourses, such as Islais Creek and Mission Creek , have been partially or completely culverted and built over. Since the 1990s, however, the Public Utilities Commission has been studying proposals to daylight or restore some creeks. An Historical Center of San Francisco monument, where the 1899–1906 City Hall was once located,
5928-408: Is gone." Rebuilding was rapid and performed on a grand scale. Rejecting calls to completely remake the street grid, San Franciscans opted for speed. Amadeo Giannini 's Bank of Italy , later to become Bank of America , provided loans for many of those whose livelihoods had been devastated. The influential San Francisco Planning and Urban Research Association or SPUR was founded in 1910 to address
6080-472: Is headquartered in Salt Lake City . The loans are not funded by investors but are assigned to other financial institutions. The company raised $ 1 billion in what became the largest technology IPO of 2014 in the United States. Though viewed as a pioneer in the fintech industry and one of the largest such firms, LendingClub experienced problems in early 2016, with difficulties in attracting investors,
6232-583: Is in United Nations Plaza , at 37°46′48″N 122°24′49″W / 37.7800397°N 122.4135943°W / 37.7800397; -122.4135943 The earliest center of San Francisco is Portsmouth Square , in the northeast quadrant of the city anchored by Market Street and the waterfront. Here in the northeast quadrant, the Financial District is centered, with Union Square , the principal shopping and hotel district, and
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6384-548: Is selected from the six city council members by the mayor and city council, serving a one-year term. The city council hires a city manager to run the day-to-day operations of the city government. Sunnyvale is the largest city in the United States that uses a consolidated department of public safety , with sworn officers who are fully cross-trained to perform police , firefighting , and emergency medical services . Officer assignments are rotated annually, with some specialist assignments lasting up to five years. Sunnyvale has had
6536-764: The Financial Times reported that LendingClub "has struggled to overcome the effects of a governance scandal last May", and that the firm "has battled to keep big investors buying loans" despite improvements to its internal governance. These challenges have led it to raise its loss estimate, and have led to further drops in its share price. At this time many other peer to peer lending companies were also experiencing difficulties. In an interview with Business Insider in December 2019, executive Valerie Kay noted that LendingClub had switched focus to institutional investors as well as its traditional peer-to-peer lending through
6688-541: The 13th most populous metropolitan statistical area in the United States , with almost 4.6 million residents in 2023. The larger San Jose–San Francisco–Oakland combined statistical area , the fifth-largest urban region in the U.S., had a 2023 estimated population of over 9 million. Prior to European settlement , the modern city proper was inhabited by the Yelamu , who spoke a language now referred to as Ramaytush Ohlone . On June 29, 1776, settlers from New Spain established
6840-638: The Bear Flag Revolt in Sonoma and the beginning of the U.S. Conquest of California , American forces from the USS Portsmouth under the command of John B. Montgomery captured Yerba Buena on July 9, 1846, with little resistance from the local Californio population, raising the American flag over Yerba Buena plaza (later renamed Portsmouth Square in commemoration of this event). Following
6992-578: The California earthquake forecast which models earthquake occurrence in California. San Francisco's shoreline has grown beyond its natural limits. Entire neighborhoods such as the Marina , Mission Bay , and Hunters Point , as well as large sections of the Embarcadero , sit on areas of landfill . Treasure Island was constructed from material dredged from the bay as well as material resulting from
7144-588: The Chinese Exclusion Act was passed. In the following decade, the 1890s, many immigrants from Italy , the Azores , Portugal , and Japan arrived to work in the orchards. In 1897, Walter Everett Crossman bought 200 acres (810,000 m ) and began selling real estate. He advertised the area as "Beautiful Murphy" and later, in the 1900s, as "the City of Destiny". Also in 1897, Encinal School opened as
7296-501: The Marina and South of Market districts and precipitated the demolition of the damaged Embarcadero Freeway and much of the damaged Central Freeway , allowing the city to reclaim The Embarcadero as its historic downtown waterfront and revitalizing the Hayes Valley neighborhood. The two recent decades have seen booms driven by the internet industry. During the dot-com boom of the late 1990s, startup companies invigorated
7448-495: The National Advisory Committee for Aeronautics (NACA, the forerunner of NASA ) began research at Ames Laboratory . During World War II, the war economy began a change from the fruit industry to the high-tech industry in Santa Clara County. The Joshua Hendy Iron Works built marine steam engines, naval guns and rocket launchers to aid in the war effort. As the defense industry grew, a shortage of workers in
7600-649: The Presidio of San Francisco at the Golden Gate , and the Mission San Francisco de Asís a few miles away, both named for Francis of Assisi . The California gold rush of 1849 brought rapid growth, transforming an unimportant hamlet into a busy port, making it the largest city on the West Coast at the time; between 1870 and 1900, approximately one quarter of California's population resided in
7752-501: The Tenderloin nearby. Cable cars carry riders up steep inclines to the summit of Nob Hill , once the home of the city's business tycoons, and down to the waterfront tourist attractions of Fisherman's Wharf , and Pier 39 , where many restaurants feature Dungeness crab from a still-active fishing industry. Also in this quadrant are Russian Hill , a residential neighborhood with the famously crooked Lombard Street ; North Beach ,
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#17327915661627904-1197: The University of San Francisco , San Francisco State University , the San Francisco Conservatory of Music , the de Young Museum , the San Francisco Museum of Modern Art , the San Francisco Symphony , the San Francisco Ballet , the San Francisco Opera , the SFJAZZ Center , and the California Academy of Sciences . Two major league sports teams, the San Francisco Giants and the Golden State Warriors , play their home games within San Francisco proper. San Francisco International Airport (SFO) offers flights to over 125 destinations, while
8056-466: The 1910s, a wave of Central American immigrants settled in the Mission and, in the 1950s, immigrants from Mexico began to predominate. In recent years, gentrification has changed the demographics of parts of the Mission from Latino, to twenty-something professionals. Noe Valley to the southwest and Bernal Heights to the south are both increasingly popular among young families with children. East of
8208-535: The Bay Area a center for trade. Catering to the needs and tastes of the growing population, Levi Strauss opened a dry goods business and Domingo Ghirardelli began manufacturing chocolate. Chinese immigrants made the city a polyglot culture, drawn to "Old Gold Mountain," creating the city's Chinatown quarter. By 1880, Chinese made up 9.3% of the population. The first cable cars carried San Franciscans up Clay Street in 1873. The city's sea of Victorian houses began to take shape, and civic leaders campaigned for
8360-705: The Birdman of Alcatraz. San Francisco later celebrated its regained grandeur with a World's fair , the Golden Gate International Exposition in 1939–40, creating Treasure Island in the middle of the bay to house it. During World War II , the city-owned Sharp Park in Pacifica was used as an internment camp to detain Japanese Americans . Hunters Point Naval Shipyard became a hub of activity, and Fort Mason became
8512-526: The Clinton Global Initiative. The partnership intended to provide $ 10 million to small businesses in areas of California that are underserved by lenders. LendingClub and other small business lenders partnered with Sam’s Club to deliver its “business lending center” product. Like other peer-to-peer lenders including Prosper, Sofi, and Khutzpa.com, LendingClub experienced increasing difficulty attracting investors during early 2016. This led
8664-522: The LendingClub platform. Investors were able to search and browse the loan listings on LendingClub website and select loans that they wanted to invest in based on the information supplied about the borrower, amount of loan, loan grade, and loan purpose. The loans could only be chosen at the interest rates assigned by LendingClub, but investors could decide how much to fund each borrower, with a minimum investment of $ 25 per note. Investors made money from interest. Rates varied from 6.03% to 26.06%, depending on
8816-522: The Mission is the Potrero Hill neighborhood, a mostly residential neighborhood that features sweeping views of downtown San Francisco. West of the Mission, the area historically known as Eureka Valley , now popularly called the Castro , was once a working-class Scandinavian and Irish area. It has become North America's first gay village , and is now the center of gay life in the city. Located near
8968-552: The Moffett Park area in 2017 adjacent to Moffett Field , with these offices ultimately opening in 2022. In addition, Amazon and Meta began leasing buildings in Sunnyvale in 2017 and 2021, respectively. Sunnyvale is located at 37°22′7.56″N 122°2′13.4″W / 37.3687667°N 122.037056°W / 37.3687667; -122.037056 . According to the United States Census Bureau ,
9120-731: The Outer Richmond and Outer Sunset can refer to the more western portions of their respective district and the Inner Richmond and Inner Sunset can refer to the more eastern portions. Many piers remained derelict for years until the demolition of the Embarcadero Freeway reopened the downtown waterfront, allowing for redevelopment. The centerpiece of the port, the Ferry Building , while still receiving commuter ferry traffic, has been restored and redeveloped as
9272-531: The Presidio garrison, commanded by Mariano Vallejo , relocated to the Presidio of Sonoma , which was regarded as needing a greater military presence due the proximity of the Russian settlement at Fort Ross . Only a small detachment remained at the Presidio of San Francisco. Mission Dolores sold most of its property in 1836, retaining only the church and related structures. In 1833, Juana Briones de Miranda
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#17327915661629424-863: The SEC, the offering taking place in December 2014. On December 10, 2014, the company raised almost $ 900 million in the largest U.S. tech IPO of 2014. The stock ended the first trading day up 56%, valuing the company at $ 8.5bn. Laplanche told Forbes in April 2015 that LendingClub would expand into car loans and mortgages. LendingClub also announced a partnership with Google to extend credit to smaller companies that use Google's business services. The company signed partnerships with Google, Alibaba.com, BancAlliance, and HomeAdvisor, including vetting community bank lenders for BancAlliance (a group of 200 banks), in order to send people on its platform to various community finance institutions. That year LendingClub partnered with Opportunity Fund, announced by former President Bill Clinton at
9576-709: The San Francisco Peninsula just north of San Bruno Mountain . Everything south of the line became the new San Mateo County while everything north of the line became the new consolidated City and County of San Francisco. The California Gold Rush triggered a wave of entrepreneurial activity as individuals sought to capitalize on the newfound wealth. The discovery of silver deposits, notably the Comstock Lode in Nevada in 1859, further fueled rapid population growth and economic expansion. San Francisco, as
9728-405: The San Francisco economy. Large numbers of entrepreneurs and computer application developers moved into the city, followed by marketing, design, and sales professionals, changing the social landscape as once poorer neighborhoods became increasingly gentrified . Demand for new housing and office space ignited a second wave of high-rise development, this time in the South of Market district. By 2000,
9880-400: The Spanish ship San Carlos , commanded by Juan Manuel de Ayala , became the first ship to anchor in the bay. Soon after, on March 28, 1776, Anza established the Presidio of San Francisco . On October 9, Mission San Francisco de Asís , also known as Mission Dolores, was founded by Padre Francisco Palóu . In 1794, the Presidio established the Castillo de San Joaquín , a fortification on
10032-466: The Spanish. In 1777, Mission Santa Clara was founded by Franciscan missionary Padre Junipero Serra and was originally located in San Jose (near what is now the San Jose International Airport runway). In 1843, Rancho Pastoria de las Borregas was granted to Francisco Estrada and his wife Inez Castro. Portions of the land given in this grant later developed into the cities of Mountain View and Sunnyvale. Two years later, in 1844, another land grant
10184-500: The Thomson family of Thomson-Reuters. This led to LendingClub earning a $ 275 million post-money valuation and an increase of $ 80 million in valuation from the preceding year. Thomson-Reuters founder Peter J. Thomson also invested an unspecified amount of his personal fortune into LendingClub. In fall 2011, LendingClub's headquarters moved to downtown San Francisco; its earlier offices were located in Sunnyvale and Redwood City . Co-founder Soul Htite moved to China to start Dianrong.com ,
10336-440: The Treasury Prime application programming interface (API) with the roll-out of its Business API Banking Software and sandbox testing technology. In 2011 and 2012 the company was named to as one of the AlwaysOn Global 250. LendingClub is the winner of the World Economic Forum 2012 Technology Pioneer Award. It has been recognized by Forbes as one of America’s 20 most promising companies in 2011 and 2012, and by Fast Company as one of
10488-448: The Vietnam War , and other factors led to the Summer of Love and the gay rights movement, cementing San Francisco as a center of liberal activism in the United States . San Francisco and the surrounding San Francisco Bay Area are a global center of economic activity and the arts and sciences, spurred by leading universities , high-tech , healthcare, finance, insurance, real estate, and professional services sectors. As of 2020 ,
10640-405: The area. Further development is taking place just to the south in Mission Bay area, a former railroad yard, which now has a second campus of the University of California, San Francisco and Chase Center , which opened in 2019 as the new home of the Golden State Warriors . West of downtown, across Van Ness Avenue , lies the large Western Addition neighborhood, which became established with
10792-405: The average LendingClub borrower has a FICO score of 699, 17.7% debt-to-income ratio (excluding mortgage), 16.2 years of credit history, $ 73,945 of personal income and takes out an average loan of $ 14,553 that s/he uses for debt consolidation or for paying off credit card debts. The investors had funded $ 11,217,348,156 in loans, with $ 1,911,759,192 coming from Q2 2015. The nominal average interest rate
10944-597: The beginning of the assimilation of the Ramaytush people, and the decline of their language and culture. The Spanish Empire claimed San Francisco as part of Las Californias , a province of the Viceroyalty of New Spain . The Spanish first arrived in what is now San Francisco on November 2, 1769, when the Portolá expedition led by Don Gaspar de Portolá and Juan Crespí arrived at San Francisco Bay . Having noted
11096-446: The borrower’s debt-to-income ratio , LendingClub determined whether the borrower was creditworthy and assigned to its approved loans a credit grade that determined the payable interest rate and fees. The standard loan period was three years; a five-year period was available at a higher interest rate and additional fees. The loans can be repaid at any time without penalty . Only investors in 39 US states were eligible to purchase notes on
11248-426: The capture, U.S. forces appointed both José de Jesús Noé and Washington Allon Bartlett to serve as co- alcaldes (mayors), while the conquest continued on in the rest of California. On January 30, 1847, Mayor Bartlett ordained that the city should officially change its name from "Yerba Buena" to "San Francisco", as the former name was only locally recognized and the latter name was in use on international maps. There
11400-476: The city and burned out of control for several days. With water mains out of service, the Presidio Artillery Corps attempted to contain the inferno by dynamiting blocks of buildings to create firebreaks. More than three-quarters of the city lay in ruins, including almost all of the downtown core. Contemporary accounts reported that 498 people died, though modern estimates put the number in
11552-521: The city as a whole, asserting that the issues of concern are restricted primarily to the urban core of San Francisco. As of March 2024, Union Square was in "sorry shape" and had lost its traditional position as the Bay Area's regional shopping hub to Westfield Valley Fair in San Jose. The Ferry Station Post Office Building , Armour & Co. Building , Atherton House , and YMCA Hotel are historic buildings among dozens of historical landmarks in
11704-589: The city has a population of 145,302 residents; however, the city's population is declining at a rate of −6.77% since the 2020 census, which claimed that Sunnyvale had a population of 155,860 residents. In November 2009, previously closed portions of the main streets in downtown Sunnyvale were reopened as part of the ongoing downtown redevelopment of the Sunnyvale Town Center mall, marking the first time in over three decades that those street blocks have been open to vehicle and pedestrian traffic. Part of
11856-506: The city has a total area of 22.7 sq mi (58.8 km ), of which, 22.0 sq mi (56.9 km ) of it is land and 0.69 sq mi (1.8 km ) of it (3.09%) is water. Its elevation is 130 feet above sea level. Like most of the San Francisco Bay Area, Sunnyvale has a Mediterranean climate ( Köppen Csb ), with cool, moist winters and warm, very dry summers. Average daytime summer temperatures are in
12008-414: The city is still home to numerous companies inside and outside of technology, including Salesforce , Uber , Airbnb , X , Levi's , Gap , Dropbox , and Lyft . In 2022, San Francisco had more than 1.7 million international visitors – the fifth-most visited city from abroad in the United States after New York City, Miami , Orlando , and Los Angeles – and approximately 20 million domestic visitors for
12160-635: The city proper. In 1856, San Francisco became a consolidated city-county . After three-quarters of the city was destroyed by the 1906 earthquake and fire , it was quickly rebuilt, hosting the Panama–Pacific International Exposition nine years later. In World War II , it was a major port of embarkation for naval service members shipping out to the Pacific Theater . In 1945, the United Nations Charter
12312-548: The city's Little Italy and the former center of the Beat Generation ; and Telegraph Hill , which features Coit Tower . Abutting Russian Hill and North Beach is San Francisco's Chinatown , the oldest Chinatown in North America. The South of Market , which was once San Francisco's industrial core, has seen significant redevelopment following the construction of Oracle Park and an infusion of startup companies . New skyscrapers, live-work lofts, and condominiums dot
12464-515: The city's 2023 Annual Comprehensive Financial Report, the top employers in the city are: The City of Sunnyvale uses the council–manager form of government, with a city council consisting of seven members elected to fill individual seats. Starting in November 2020, the mayor is directly elected to a four-year term in a city-wide election. The six council members are elected to four year terms from six districts in even-year elections. The vice-mayor
12616-479: The city's alcalde , renamed it from Yerba Buena (Spanish for "Good Herb"), which had been the name of the first civilian pueblo in San Francisco, as well as the name of Yerba Buena Cove , which the pueblo was on the shore of. Earlier in San Francisco's history, the uninhabited area on the northeastern side of San Francisco was called El Paraje de Yerba Buena , after the herb that was growing abundantly there. The name Yerba Buena continues to be used in locations in
12768-417: The city's population reached new highs, surpassing the previous record set in 1950. When the bubble burst in 2001 and again in 2023, many of these companies folded and their employees were laid off. Yet high technology and entrepreneurship remain mainstays of the San Francisco economy. By the mid-2000s (decade), the social media boom had begun, with San Francisco becoming a popular location for tech offices and
12920-576: The city's southern border, the Excelsior District is one of the most ethnically diverse neighborhoods in San Francisco. The Bayview-Hunters Point in the far southeast corner of the city is one of the poorest neighborhoods, though the area has been the focus of several revitalizing and urban renewal projects. The construction of the Twin Peaks Tunnel in 1918 connected southwest neighborhoods to downtown via streetcar, hastening
13072-571: The city, according to the National Register of Historic Places listings in San Francisco . San Francisco is located on the West Coast of the United States , at the north end of the San Francisco Peninsula and includes significant stretches of the Pacific Ocean and San Francisco Bay within its boundaries. Several picturesque islands — Alcatraz , Treasure Island and the adjacent Yerba Buena Island , and small portions of Alameda Island , Red Rock Island , and Angel Island —are part of
13224-739: The city, such as on Yerba Buena Island and in the Yerba Buena Center for the Arts and Yerba Buena Gardens . While people residing outside the San Francisco Bay Area use nicknames including "Frisco" and "San Fran", local residents in the Bay Area sometimes refer to San Francisco as "the City" or "SF". The choice of nickname a person uses is a common way for locals to distinguish long-time residents from tourists and recent arrivals. "San Fran" and "Frisco" are sometimes considered controversial as nicknames among San Francisco residents. The earliest archeological evidence of human habitation of
13376-432: The city. Also included are the uninhabited Farallon Islands , 27 miles (43 km) offshore in the Pacific Ocean. The mainland within the city limits roughly forms a "seven-by-seven-mile square," a common local colloquialism referring to the city's shape, though its total area, including water, is nearly 232 square miles (600 km ). There are more than 50 hills within the city limits. Some neighborhoods are named after
13528-576: The color and shape of its windowless main building. The facility, previously known as Sunnyvale Air Force Station, was named for the deceased Space Shuttle Challenger astronaut Ellison Onizuka . It served as an artificial satellite control facility of the U.S. military until August 2010 and has since been decommissioned and demolished. Sunnyvale is one of the few U.S. cities to have a single unified Department of Public Safety , where all personnel are trained as firefighters , police officers , and EMTs , so that they can respond to an emergency in any of
13680-490: The company discontinued its secondary trading platform, hosted by Folio , reducing liquidity for existing peer-to-peer investors. In October 2020, the company ceased all new loan accounts on their website as part of restructuring into a neobank after the acquisition of Radius Bank . In December 2020, the company ceased to operate as a peer-to-peer lender. In February 2020 LendingClub announced that it had agreed to buy Radius Bank for $ 185 million in cash and stock. The deal
13832-466: The company received $ 15 million in new funding from Kleiner Perkins Caufield & Byers and $ 2.5 million of personal investments from John J. Mack . Kleiner Perkins partner Mary Meeker joined Mack on LendingClub's board of directors. This led to a $ 570 million valuation of the company. In November 2012, LendingClub surpassed $ 1 billion in loans issued since inception and announced they were now cash flow positive. In May 2013, Google Capital purchased
13984-538: The consumer products category. San Francisco, California San Francisco , officially the City and County of San Francisco , is a commercial, financial , and cultural center within Northern California . With a population of 808,988 residents as of 2023, San Francisco is the fourth-most populous city in the U.S. state of California behind Los Angeles , San Diego , and San Jose . It covers
14136-515: The country at the time. His financial empire, however, collapsed in 1875 as a result of the Panic of 1873 , triggering a major economic crisis in San Francisco. Development of the Port of San Francisco and the establishment in 1869 of overland access to the eastern U.S. rail system via the newly completed Pacific Railroad (the construction of which the city only reluctantly helped support ) helped make
14288-418: The credit grade and ranges to be 1.1–5.0% of the loan amount. The size of the service fee was 1% on all amounts the borrower pays. The company facilitated interest rates that were better for lenders and borrowers than they would receive from most banks. It averaged between a six and nine percent return to investors between its founding and 2013. However, because lenders were making personal loans to individuals on
14440-426: The credit grade assigned to the loan request. The grades assigned to these requests ranged alphabetically from A to G, with A being the highest-grade, lowest-interest loan. Each of these letter grades had five finer-grain sub-grades, numbered 1 to 5, with 1 being the highest sub-grade. LendingClub made money by charging borrowers an origination fee and investors a service fee. The size of the origination fee depended on
14592-683: The development of West Portal , and nearby affluent Forest Hill and St. Francis Wood . Further west, stretching all the way to the Pacific Ocean and north to Golden Gate Park lies the vast Sunset District , a large middle-class area with a predominantly Asian population. The northwestern quadrant of the city contains the Richmond , a mostly middle-class neighborhood north of Golden Gate Park, home to immigrants from other parts of Asia as well as many Russian and Ukrainian immigrants. Together, these areas are known as The Avenues . These two districts are each sometimes further divided into two regions:
14744-509: The emergence of The Castro as an urban gay village , the election of Harvey Milk to the Board of Supervisors , and his assassination , along with that of Mayor George Moscone , in 1978. Bank of America , now based in Charlotte , North Carolina , was founded in San Francisco; the bank completed 555 California Street in 1969. The Transamerica Pyramid was completed in 1972, igniting
14896-774: The excavation of the Yerba Buena Tunnel through Yerba Buena Island during the construction of the Bay Bridge. Such land tends to be unstable during earthquakes. The resulting soil liquefaction causes extensive damage to property built upon it, as was evidenced in the Marina district during the 1989 Loma Prieta earthquake . A few natural lakes and creeks ( Lake Merced , Mountain Lake , Pine Lake , Lobos Creek , El Polin Spring ) are within parks and remain protected in what
15048-520: The fact that there were no churches to be found, prompted missionaries like William Taylor to come to San Francisco where he began preaching in the streets, using an upright barrel as his pulpit. Taylor was able to garner enough generous donations from successful gold miners with which he used to build a church. One of the most influential figures of this era was William Chapman Ralston . A shrewd banker and investor, Ralston amassed considerable wealth and influence in San Francisco. He gained control over
15200-497: The famous " Painted Ladies ," standing alongside Alamo Square . To the south, near the geographic center of the city is Haight-Ashbury , famously associated with 1960s hippie culture. The Haight is now home to some expensive boutiques and a few controversial chain stores, although it still retains some bohemian character. North of the Western Addition is Pacific Heights , an affluent neighborhood that features
15352-633: The farm industry was created. Immigrants from Mexico came to Sunnyvale to fill this void of workers. Following the war, the fruit orchards and sweetcorn farms were cleared to build homes, factories and offices. In 1950 the volunteer fire department and the paid police department were combined into the department of public safety. In 1956, the aircraft manufacturer Lockheed moved its headquarters to Sunnyvale. Since then, numerous high-tech companies have established offices and headquarters in Sunnyvale, including Advanced Micro Devices and Yahoo . The first prototype of Atari 's coin-operated Pong ,
15504-491: The firm to increase the interest rate it charged borrowers on three occasions during the first months of the year. The increase in interest rates and concerns over the impact of the slowing United States economy caused a large drop in LendingClub's share price. In April 2016, a LendingClub employee reported to Laplanche that the dates on approximately $ US 3 million in the firm's loans appeared to have been altered. LendingClub's internal auditor engaged an outside firm to investigate
15656-610: The first land grant in Yerba Buena: to William Richardson , a naturalized Mexican citizen of English birth. Richardson had arrived in San Francisco aboard a whaling ship in 1822. In 1825, he married Maria Antonia Martinez, eldest daughter of the Californio Ygnacio Martínez . Yerba Buena began to attract American and European settlers; an 1842 census listed 21 residents (11%) born in the United States or Europe, as well as one Filipino merchant. Following
15808-650: The first school in Murphy. Previously, children in the town had to travel to Mountain View for school. The area also became known as Encinal. In 1901, the residents of Murphy were informed they could not use the names Encinal or Murphy for their post office. Sunnyvale was given its current name on March 24, 1901. It was named Sunnyvale as it is located in a sunny region adjacent to areas with significantly more fog. Sunnyvale continued to grow and in 1904, dried fruit production began. Two years later, Libby, McNeill & Libby ,
15960-638: The first successful video game, was installed in Sunnyvale in August 1972 in a bar named Andy Capp's Tavern, now Rooster T. Feathers. Atari's headquarters were located at 1196 Borregas Avenue in north Sunnyvale. By 2002, the few remaining orchards had been replaced with homes and shops. However, there are still city-owned orchards, such as the Heritage Orchard next to the Sunnyvale Community Center. In 1979, an indoor mall called Sunnyvale Town Center opened in what used to be
16112-518: The gateway to the goldfields, experienced a surge in population and commercial activity. However, the influx of fortune seekers also brought challenges. Lawlessness was rampant, and the Barbary Coast district became synonymous with vice, attracting criminals, prostitutes, and illicit activities, including but not limited to prostitution, bootlegging , and gambling. The rapidly growing population, with its lawlessness, gambling and other vices, and
16264-499: The high 70s, and during the winter, average daytime high temperatures rarely stay below 50 °F (10 °C). Snowfall is rare, but on January 21, 1962, and February 5, 1976, measurable snowfall occurred in Sunnyvale and most of the San Francisco Bay Area . Sunnyvale was briefly hit by tornadoes in 1951 and 1998, but otherwise they are extremely rare. The 2020 United States census reported that Sunnyvale had
16416-457: The hill on which they are situated, including Nob Hill , Potrero Hill , and Russian Hill . Near the geographic center of the city, southwest of the downtown area, are a series of less densely populated hills. Twin Peaks , a pair of hills forming one of the city's highest points, forms an overlook spot. San Francisco's tallest hill, Mount Davidson , is 928 feet (283 m) high and is capped with
16568-562: The homes built by wealthy San Franciscans in the wake of the 1906 earthquake. Directly north of Pacific Heights facing the waterfront is the Marina , a neighborhood popular with young professionals that was largely built on reclaimed land from the Bay. In the southeast quadrant of the city is the Mission District —populated in the 19th century by Californios and working-class immigrants from Germany, Ireland, Italy, and Scandinavia. In
16720-538: The larger Port of Oakland . The city began to lose industrial jobs and turned to tourism as the most important segment of its economy. The suburbs experienced rapid growth, and San Francisco underwent significant demographic change, as large segments of the white population left the city, supplanted by an increasing wave of immigration from Asia and Latin America. From 1950 to 1980, the city lost over 10 percent of its population. Over this period, San Francisco became
16872-409: The loan applications it received as of 2012 and assigning higher interest rates to riskier borrowers within its credit criteria. Only borrowers with FICO score of 660 or higher can be approved for loans. The statistics on LendingClub's website state that, as of December 31, 2016, 62.3 percent of borrowers report using their loans to refinance other loans or pay credit card debt. As of June 30, 2015,
17024-485: The major cities that make up California's high-tech area known as Silicon Valley , Sunnyvale is the birthplace of the video game industry, former location of Atari headquarters. Many technology companies are headquartered in Sunnyvale and many more operate there, including several aerospace/defense companies. Sunnyvale was also the home to Onizuka Air Force Station , often referred to as "the Blue Cube" because of
17176-518: The metropolitan area, with 4.5 million residents, ranked 5th by GDP ($ 874 billion) and 2nd by GDP per capita ($ 131,082) across the OECD countries, ahead of global cities like Paris , London , and Singapore . It is the fourth-largest by aggregate income and economic output, with a GDP of $ 729 billion in 2022 . The wider San Jose–San Francisco–Oakland Combined Statistical Area is the nation's fifth-most populous, with around nine million residents, and
17328-419: The missions were made to divest themselves of their extensive landholdings and emancipate the indigenous people under their control. As part of the process of secularization, Governor José Figueroa opened up San Francisco to civilian settlement. Prior to secularization, the only settlements in San Francisco had been the military settlement at the Presidio and the religious settlement at Mission Dolores. In 1835,
17480-424: The north, Moffett Federal Airfield and NASA Ames Research Center to the northwest, Mountain View to the northwest, Los Altos to the southwest, Cupertino to the south, and Santa Clara to the east. Sunnyvale's population was 155,805 at the 2020 census , making it the second most populous city in the county (after San Jose ) and the seventh most populous city in the San Francisco Bay Area . As one of
17632-442: The noteholder monies it receives from the borrower less its service fees, while the holders of LendingClub notes have the status of unsecured creditors of LendingClub. This means that there is a risk that the investor may lose all or part of the investment if LendingClub becomes insolvent or declares bankruptcy, even if the ultimate borrower continues to pay. Until August 2020, investors had the ability to put notes up for sale before
17784-415: The notes have reached maturity. This service was offered in a partnership with FOLIOfn Investments which charged a 1% fee on note sales, making LendingClub the first peer-to-peer lending network to offer a secondary market for peer-to-peer loans. Other peer-to-peer lending networks, such as Khutzpa.com, subsequently also partnered with FOLIOfn Investments to offer a secondary market. Effective August 28, 2020,
17936-484: The period of Mexican rule , although it was not until 1833 that the missions would be secularized. Agricultural land became largely privatized as ranchos , as was occurring in other parts of California. Coastal trade increased, including a half-dozen barques from various Atlantic ports which regularly sailed in California waters. With the enactment of the Mexican Secularization Act of 1833 ,
18088-564: The population in 2020, compared to 74.7% in 1980. There were 59,567 households, out of which 16,133 (27%) had children under the age of 18 living in them, 31,557 (53.0%) were married opposite-sex couples living together, 4,069 (6.8%) had a female householder with no husband present, 2,908 (4.9%) had a male householder with no wife present. There were 3,382 (5.7%) unmarried opposite-sex partnerships , and 657 (1.1%) same-sex married couples or partnerships . 14,970 households (25.1%) were made up of individuals, and 5.7% had someone living alone who
18240-521: The primary port of embarkation for service members shipping out to the Pacific Theater of Operations . The explosion of jobs drew many people, especially African Americans from the South , to the area. After the end of the war, many military personnel returning from service abroad and civilians who had originally come to work decided to stay. The United Nations Charter creating the United Nations
18392-601: The project involved building new apartment buildings, however during the Great Recession the property was repossessed by Wells Fargo in 2009; the developer countersued, leaving the project in legal limbo through 2015. The two office buildings are now fully occupied by Uber . Mixed-use developments have been built at the former Town and Country location near the Plaza del Sol just north of Murphy Avenue. By mid 2015, new multistory apartment complexes had opened, including
18544-605: The quality of housing after the earthquake. The earthquake hastened development of western neighborhoods that survived the fire, including Pacific Heights , where many of the city's wealthy rebuilt their homes. In turn, the destroyed mansions of Nob Hill became grand hotels. City Hall rose again in the Beaux Arts style, and the city celebrated its rebirth at the Panama–Pacific International Exposition in 1915. During this period, San Francisco built some of its most important infrastructure. Civil Engineer Michael O'Shaughnessy
18696-506: The report. This investigation found additional problems with loans, including that $ US 22 million in loans which had been sold to the Jefferies investment bank did not in fact meet the bank's investment criteria. LendingClub bought these loans back from the bank and resold them. The New York Times reported that the investigation found that Laplanche had not disclosed to the board that he owned part of an investment fund which LendingClub
18848-421: The secondary market for trading Lending Club notes was discontinued. As of 2016, a high proportion of funds for LendingClub-facilitated loans came from hedge funds . During May of that year, LendingClub was seeking to sell hundreds of millions of dollars worth of loans as bonds as part of a strategy to overcome difficulties in accessing sufficient funding. When initially founded, LendingClub positioned itself as
19000-542: The several thousands. More than half of the city's population of 400,000 was left homeless. Refugees settled temporarily in makeshift tent villages in Golden Gate Park, the Presidio, on the beaches, and elsewhere. Many fled permanently to the East Bay . Jack London is remembered for having famously eulogized the earthquake: "Not in history has a modern imperial city been so completely destroyed. San Francisco
19152-408: The site, their gains were taxable as personal income instead of investment income. Therefore, income from LendingClub loans could be taxed at a higher rate than investments taxed at the capital gains rate . After the notes were issued, LendingClub purchased the loans from the issuing bank and notes became the obligations of LendingClub, and not of the ultimate borrower: LendingClub has promised to pay
19304-543: The southern side of the Golden Gate , which later came to be known as Fort Point. In 1804, the province of Alta California was created, which included San Francisco. At its peak in 1810–1820, the average population at the Mission Dolores settlement was about 1,100 people. In 1821, the Californias were ceded to Mexico by Spain. The extensive California mission system gradually lost its influence during
19456-576: The strategic benefits of the area due to its large natural harbor, the Spanish dispatched Pedro Fages in 1770 to find a more direct route to the San Francisco Peninsula from Monterey , which would become part of the El Camino Real route. By 1774, Juan Bautista de Anza had arrived to the area to select the sites for a mission and presidio . The first European maritime presence in San Francisco Bay occurred on August 5, 1775, when
19608-523: The ten most innovative financial companies in the world. It was named one of the Disruptor 50 by CNBC in May 2013 and 2014, as a disruptive innovator in next generation financial services. In 2014, LendingClub was recognized by Inc. as one of the 500 Fastest Growing Private Companies in America at #248. Renaud Laplanche , the company’s founder and CEO, also received The Economist Innovation Award in 2014 for
19760-493: The territory of San Francisco dates to 3000 BCE. The Yelamu group of the Ramaytush people resided in a few small villages when an overland Spanish exploration party arrived on November 2, 1769, the first documented European visit to San Francisco Bay . The Ohlone name for San Francisco was Ahwaste , meaning, "place at the bay." The arrival of Spanish colonists, and the implementation of their Mission system, marked
19912-493: The third-largest by economic output, with a GDP of $ 1.32 trillion in 2022 . In the same year, San Francisco proper had a GDP of $ 252.2 billion, and a GDP per capita of $ 312,000. San Francisco was ranked fifth in the world and second in the United States on the Global Financial Centres Index as of September 2023 . Despite a continuing exodus of businesses from the downtown area of San Francisco,
20064-651: The three roles. The Santa Clara Valley was heavily populated by the indigenous Ohlone people when the Spanish first arrived in the 1770s. However, following the arrival of the Spaniards, smallpox , measles , and other Old World diseases greatly reduced the Ohlone population. While some of the Ohlone Native Americans died from diseases, others survived and were converted to Christian faith by
20216-402: The underwater lot. By 1851, the harbor was extended out into the bay by wharves while buildings were erected on piles among the ships. By 1870, Yerba Buena Cove had been filled to create new land. Buried ships are occasionally exposed when foundations are dug for new buildings. California was quickly granted statehood in 1850, and the U.S. military built Fort Point at the Golden Gate and
20368-566: Was 35.2 years. For every 100 females, there were 109.3 males. There were 63,065 housing units, of which 45.8% were owner-occupied, and 54.2% were occupied by renters. The homeowner vacancy rate was 1.1%; the rental vacancy rate was 5.3%. 72,485 people (46.5% of the population) lived in owner-occupied housing units and 80,220 people (51.5%) lived in rental housing units. Companies based in Sunnyvale include Infinera , Fortinet , Intuitive Surgical , Juniper Networks , LinkedIn , Proofpoint, Inc. , Matterport, Inc. , and Trimble Inc. According to
20520-422: Was 65 years of age or older. The average household size was 2.54. There were 38,750 families (65.0% of all households); the average family size was 3.09. The population was spread out, with 32,453 people (20.8%) under the age of 18, 9,641 people (6.2%) aged 18 to 24, 57,977 people (37.2%) aged 25 to 44, 34,330 people (22.0%) aged 45 to 64, and 20,683 people (13.2%) who were 65 years of age or older. The median age
20672-415: Was a major city known for its flamboyant style, stately hotels, ostentatious mansions on Nob Hill , and a thriving arts scene. The first North American plague epidemic was the San Francisco plague of 1900–1904 . At 5:12 am on April 18, 1906, a major earthquake struck San Francisco and northern California. As buildings collapsed from the shaking, ruptured gas lines ignited fires that spread across
20824-552: Was also concern that a new town being planned by General Vallejo on the Carquinez Strait was to be called "Francisca", after the first name of his wife. After the name change to "San Francisco", the name of Vallejo's town was changed to Benicia , after his wife's middle name. Following the Treaty of Guadalupe Hidalgo in 1848, Alta California was ceded from Mexico to the United States . Despite its attractive location as
20976-662: Was at the height of the Great Depression that San Francisco undertook two great civil engineering projects, simultaneously constructing the San Francisco–Oakland Bay Bridge and the Golden Gate Bridge , completing them in 1936 and 1937, respectively. It was in this period that the island of Alcatraz , a former military stockade, began its service as a federal maximum security prison, housing notorious inmates such as Al Capone , and Robert Franklin Stroud ,
21128-464: Was centered on a plaza that is now Portsmouth Square . A land survey of Yerba Buena was made by the Swiss immigrant Jean Jacques Vioget as prelude to the city plan. Francisco de Haro , a non- Californio Mexican native, became the first alcalde of Yerba Buena. The second alcalde José Joaquín Estudillo was a Californio from a prominent Monterey family. In 1835, while in office, he approved
21280-464: Was considering purchasing. The Wall Street Journal also stated that Laplanche was found to have not fully disclosed what he knew about the problematic loans. On May 6, LendingClub's board made it clear to Laplanche that he no longer had their confidence, leading to his resignation on 9 May. The Wall Street Journal reported that Laplanche had been fired by the board. Three of the firm's other managers had also been fired or had resigned by that time as
21432-598: Was drafted and signed in San Francisco in 1945 and, in 1951, the Treaty of San Francisco re-established peaceful relations between Japan and the Allied Powers . Urban planning projects in the 1950s and 1960s involved widespread destruction and redevelopment of west-side neighborhoods and the construction of new freeways , of which only a series of short segments were built before being halted by citizen-led opposition . The onset of containerization made San Francisco's small piers obsolete, and cargo activity moved to
21584-437: Was granted a small rancho at El Polín Spring , near the Presidio, founding the first non-indigenous civilian household in San Francisco. In 1834, the pueblo of Yerba Buena was founded. Yerba Buena Cove (named after a native herb ) was already a favored anchorage spot and the new settlement and trading post was founded by its shores. Yerba Buena was located in what is now the city's Chinatown and Financial District and
21736-837: Was hired by San Francisco Mayor James Rolph as chief engineer for the city in September 1912 to supervise the construction of the Twin Peaks Reservoir, the Stockton Street Tunnel , the Twin Peaks Tunnel , the San Francisco Municipal Railway , the Auxiliary Water Supply System , and new sewers. San Francisco's streetcar system, of which the J , K , L , M , and N lines survive today, was pushed to completion by O'Shaughnessy between 1915 and 1927. It
21888-407: Was later established on the southern edge of Bay View. In the 1870s, small fruit orchards replaced many large wheat farms, because wheat farming turned uneconomical due to county and property tax laws, imports and soil degradation . In 1871, Dr. James M. Dawson and his wife Eloise (née Jones) established the first commercial fruit cannery in the county. Fruit agriculture for canning soon became
22040-624: Was provided to Lupe Yñigo, one of the few Native Americans to hold land grants. His land grant was first called Rancho Posolmi , named in honor of a village of the Ohlone that once stood in the area. Martin Murphy Jr. came to California with his father as part of the Stephens-Townsend-Murphy Party in 1844. In 1850, Martin Murphy Jr. bought a piece of Rancho Pastoria de las Borregas for $ 12,500. Murphy established
22192-468: Was renamed Radius Bank. In June 2016, private investors had acquired approximately 95% of Radius Bancorp in response to Dodd Frank regulations. LendingClub enabled borrowers to create loan listings on its website by supplying details about themselves and the loans that they would like to request. All loans were unsecured personal loans and could be between $ 1,000 - $ 40,000. On the basis of the borrower’s credit score , credit history, desired loan amount and
22344-446: Was signed in San Francisco, establishing the United Nations and in 1951, the Treaty of San Francisco re-established peaceful relations between Japan and the Allied Powers . After the war, the confluence of returning servicemen, significant immigration , liberalizing attitudes, the rise of the beatnik and hippie countercultures, the sexual revolution , the peace movement growing from opposition to United States involvement in
22496-410: Was the O'Shaughnessy Dam , Hetch Hetchy Reservoir , and Hetch Hetchy Aqueduct that would have the largest effect on San Francisco. An abundant water supply enabled San Francisco to develop into the city it has become today. In ensuing years, the city solidified its standing as a financial capital; in the wake of the 1929 stock market crash , not a single San Francisco-based bank failed. Indeed, it
22648-448: Was the first non-agricultural industry in the town. The company later switched from producing mining equipment to other products such as marine steam engines . In 1912, the residents of Sunnyvale voted to incorporate, and Sunnyvale became an official city. Fremont High School first opened in 1923. The year 2023 marked the school's 100 year anniversary. In 1924, Edwina Benner was elected to her first term as mayor of Sunnyvale. She
22800-477: Was the first time since the 2008 financial crisis that a U.S. "fintech" lender bought a regulated bank. In 2021, it was integrated into the LendingClub brand. Radius had been founded in 1987 as First Trade Union Bank by the carpenters union in Massachusetts, using pension funds. The bank, however, struggled during the subprime mortgage crisis , when it invested heavily in commercial real estate. In 2014, it
22952-502: Was the second female mayor in the history of the state of California . In 1930, Congress decided to place the West Coast dirigible base in Sunnyvale after "buying" the 1,000-acre (4.0 km ) parcel of farmland bordering the San Francisco Bay from the city for $ 1. This naval airfield was later renamed Naval Air Station Moffett and then Moffett Federal Airfield and is commonly called Moffett Field. In 1939,
23104-575: Was three years. Investors were able to search and browse the loan listings on LendingClub website and select loans that they wanted to invest in based on the information supplied about the borrower, amount of loan, loan grade, and loan purpose. Investors made money from the interest on these loans. LendingClub made money by charging borrowers an origination fee and investors a service fee. LendingClub also makes traditional direct to consumer loans, including automobile refinance transactions, through WebBank , an FDIC-insured, state-chartered industrial bank that
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