Lending Club, which is seeking to rebound from a recent corporate governance scandal, plans to step up its efforts to sell loans to everyday investors, Chief Executive Scott Sanborn said.

After the San Francisco-based marketplace lender ousted Sanborn's predecessor in May, many institutional investors that had fueled the firm's rapid growth stopped purchasing loans. Lending Club's loan originations fell by 29% between the first quarter and the second quarter, and the company reported an $81.4 million loss between April and June.

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