The rumor mill is starting to suggest that the funding sources for online lending are starting to losen up. The latest news from Bloomberg has Western Asset Management purchasing as much as $1.5 billion loans over time from the LendingClub (LC) platform. The subsidiary of Legg Mason (LM) has $460 billion in assets under management so the deal amounts to a very limited amount of the assets under management. For LendingClub, the deal would be enormous for confidence in the platform and the stock. The company forecast Q2 originations in the $1.8 billion range so anything that amounts to a couple hundred million per quarter will be highly material to returning to growth. More deals like this will leave the stock very cheap with an enterprise value around $1 billion and revenues in the $400 million plus range without growth. Disclosure: No position