San Francisco, September 30, 2026 / PRNewswire / -- Happen Bank indicates that the total amount of personal loans sold through its own structured loan certificate programs HAPS and LENDR has exceeded $10 billion. Happen Bank is a subsidiary of Happen, Inc (Nasdaq ticker: HAPN), and is also a digital bank targeting the "enterprising middle class."
The company stated that HAPS and LENDR were launched in April 2023 and June 2025, respectively. These two projects have expanded investors' investment channels for the loan assets of Happen Bank, while also providing the company with flexible and scalable sources of market-based financing.
The company stated that this milestone reflects the ongoing demand from the market for Happen Bank personal loan assets. Existing market investors have increased their purchasing volumes, and new market investors are also continuously joining the platform. The company mentioned that HAPS and LENDR have jointly enhanced Happen Bank's ability to match assets with committed funds, and have achieved a balance between market-oriented loan sales and balance sheet growth, thereby providing greater flexibility across different economic cycles to generate attractive returns.
HAPS, previously known as SLCLC, is a dual-layered private securitization structure. In this structure, Happen Bank retains the preferred notes and sells the remaining certificates from the loan pool to market investors at a predetermined price, thereby providing an embedded financing mechanism. The company states that market investors can obtain attractive leverage returns with low friction and low costs through these liquid securities, while Happen Bank can achieve attractive yields with lower credit risks.
Building on the success of the HAPS project, Happen Bank launched LENDR. This project offers multiple tranches of securities, each of which has received a credit rating from Fitch, in order to meet the needs of investors seeking investment-grade ratings and thus invest in the attractive asset class of Happen Bank. The company stated that this project further diversifies the market-based financing sources of Happen Bank and expands the company's ability to efficiently allocate loans in different market environments.
Happen Bank, the head of the market platform and senior vice president, stated: "Structured certificates have been uniquely implemented thanks to our banking status, enabling us to provide investors with attractive and streamlined financing options in a constantly changing market environment, as well as efficient channels to enter this asset class. In just over three years, the cumulative scale of these projects has exceeded one billion US dollars, which demonstrates the value of such structures for investors. We are proud that Happen Bank is the first institution in the industry to be able to offer high-quality personal loans and simplified financing on a large scale simultaneously, further solidifying our position as the preferred provider in this asset class."
The company stated that throughout its 20-year history, Happen Bank has continuously introduced a variety of industry-first and unique product structures to expand investors' channels for participating in consumer credit, broaden distribution, and improve the liquidity of all investors.
About Happen Bank
Happen Bank ™ (formerly known as LendingClub Bank) is a digital bank targeting the "proactive middle class." These customers typically have high F-token issuance credit scores, higher incomes, and are familiar with digital tools, actively managing their financial lives. The company claims that its differentiator lies in its ability to enable customers to conveniently access award-winning products that help them retain more of their income and achieve higher returns on their savings. The company states that its products are designed to work together, and when over 5 million members take proactive financial actions, such as making regular savings or repaying loans on time, they can receive corresponding rewards.
The company stated that its success is attributed to its advanced credit underwriting capabilities, a proprietary technology platform designed for innovation, and a market-oriented banking model that creates value for members, loan investors, and shareholders alike. As a result, it is able to provide affordable credit, tangible value, and reliable banking relationships in a scalable, sustainable, and profitable manner.
Happen Bank represents its mission to clear obstacles for members and help them accomplish their goals.
Happen, Inc. (Nasdaq ticker: HAPN, formerly known as LendingClub Corporation) is the parent company and operator of Happen Bank and National Association, with the latter being a member institution of FDIC. For more information, please visit: https:// www.happen.com.
Contact Information
Investor contact email: [ email protected ]
Media contact email: [ email protected ]
Safe Harbor Statement
The company stated that the series of notes and remaining certificates issued through the HAPS and LENDR projects have not been and will not be registered in accordance with the Securities Act of 1933 or the securities laws of any state or other jurisdiction; unless registration is completed, or an exemption to the registration requirements of the Securities Act of 1933 and the applicable state or other jurisdiction's securities laws is satisfied, they shall not be offered or sold within the United States.
This press release does not constitute an offer to sell a series of notes, remaining certificates, or any other securities, nor does it constitute an invitation to purchase such securities; in any state or other jurisdiction where such an offer, invitation, or sale would be illegal, no such offer, invitation, or sale will be made.
The company stated that some of the aforementioned statements, including those regarding the performance, benefits, and requirements of its structured loan certificate program, are considered "forward-looking statements." Terms such as "__(BJW_KEEP_00001__) (expected)", "(BJWKEEP_00002__) (believes)", "(BJW_KEEP_00003__) (continues)", "(BJW_KEEP_00004__) (possible)", "(BJW_KEEP_00005__) (estimated)", "(BJW_KEEP_00006__) (predicted)", "(BJW_KEEP_00007__) (intends)", "(BJW_KEEP_00008__) (perhaps)", "(BJW_KEEP_00009__) (outlook)", "(BJW_KEEP_00010__) (plan)", "(BJW_KEEP_00011__) (forecast)", "(BJW_KEEP_00012__) (expected)", "(BJW_KEEP_00013__) (should)", "(BJW_KEEP_00014__) (will)", "(BJW_KEEP_00015__) (will)" and similar expressions may be used to identify forward-looking statements, but not all forward-looking statements contain these words.
The company stated that factors that could lead to significant differences between actual results and those envisioned in these forward-looking statements include: loan performance; the ability to continuously attract and retain new and existing borrowers as well as market investors (including retaining long-term investors during the expected cooperation period and achieving the anticipated level of purchases); competition; overall economic conditions; interest rates and/or regulatory environment; default rates; as well as factors listed in the "Risk Factors" section of the company's most recent 10-K annual report submitted to the U.S. Securities and Exchange Commission, and factors disclosed in subsequent documents submitted to the SEC.
The company states that actual results or events may differ significantly from the plans, intentions, and expectations disclosed in the forward-looking statements, and investors should not rely excessively on such forward-looking statements. Except as required by law, the company has no obligation to update any forward-looking statements due to new information, future events, or other reasons.
Message source: Happen Bank
