Lending Club Issues $28.3 Million in New Loans (from Peter Renton)

This article has been republished from the Social Lending Network (http://www.sociallending.net/)

Lending Club Issues $28.3 Million in New Loans

Lending Club set another record with $28.3 million in new loans for the month. This was up from $27.5 million last month and $11.6 million in November last year. They issued 2,232 new loans which was also a record. With the Thanksgiving holiday break this was a very impressive performance from the world’s largest p2p lender. No wonder Forbes magazine named them one of America’s most promising companies in an article on their site today.

Lending Club is closing in on $500 million in loans issued since inception and are probably on track to reach their target of $1 billion in total loans by the end of next year. Their 18-month chart below demonstrates the amazing run they have been having. The black line is the three month moving average.

Lending Club 18-month chart showing growth in p2p loans

Prosper Shows Loan Growth for the 14th Month in a Row

Prosper broke $9 million for the first time in their post quiet period (Prosper 2.0) operations. This was helped along by a huge influx of new cash from Worth-blanket2, their largest institutional investor. They chipped in around $2.4 million in new money for the month which brings their total investment since coming on board in May to $10.8 million.

But they were not alone. If you look at the top 20 investors by dollars lent on Lendstats for Prosper 2.0 you will see six new lenders in that list. Each one of these big new investors have come on board in just the last three months.Managedfund is the largest of these new investors and they kicked in around half a million dollars in new money this month.

Prosper continues to get a great deal of support from institutional lenders, but they are not ignoring individual investors. This was evidenced by the great bonuses for new investors announced earlier this month. Prosper doesn’t share the breakdown in numbers between the two types of investors but any way you slice it their growth in the past year has been impressive.

Prosper 18-month chart of p2p loan growth

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About Steve King

iPeopleFINANCE™ Chief Operating Officer. Former CEO of Endymion Systems, Inc. a $36m Information Systems Services company. Co-founder of the Cambridge Systems Group, the creator of ACF2, the leading IBM Mainframe Data Center Security product; acquired by Computer Associates. IBM, seeCommerce, marchFIRST, Connectandsell alumni. UC Berkeley alumni. View all posts by Steve King

2 responses to “Lending Club Issues $28.3 Million in New Loans (from Peter Renton)

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