Renaud Laplanche got into a jam in January when the LendingClub shares that he pledged as collateral for an earlier loan plunged in value, according to a regulatory filing last week. As a stopgap measure, Laplanche borrowed money from Mack, according to a person familiar with the matter, who asked not to be identified discussing the transaction. Morgan Stanley later provided a mortgage to Laplanche, property records shows.

The loans add another dimension to the web of relationships betweenLendingClub, Mack and Morgan Stanley. The bank helped take Laplanche’s firm public in 2014 and, with Mack’s assistance, fueled its growth by lining up wealthy clients to buy its loans. The former Morgan Stanley chief was also a co-investor with Laplanche in a fund that figured into his ouster asLendingClub CEO this month.

Absent the outside help, Laplanche would’ve been forced to sell part of his stake in the company, potentially exacerbating LendingClub’s slide. The firm, which pioneered the peer-to-peer model of matching borrowers with investors online, was facing questions about whether it would be able to sustain its rapid growth. […]