Shares of online lender LendingClub rose as much as 70 percent in their stock market debut. 

San Francisco-based LendingClub makes personal and small business loans by connecting borrowers with investors. 

In midday trading Thursday, its shares were up $8.26, or 55.1 percent, to $23.26 after trading as high as $25.44 earlier.

LendingClub Corp. raised $870 million by offering 58 million shares at $15 per share. Its stock was listed on the New York Stock Exchange under the ticker symbol "LC."

It says it makes it easier and faster to apply for a loan than going to a bank. Borrowers are often approved within a couple of days.

The company says it has originated $6 billion in loans since its launch in 2007.

--Associated Press