Subscribe
Logo
Logo
  • Topics Icon Topics
    • AI Icon AI
    • Banking Icon Banking
    • Blockchain/DeFi Icon Blockchain/DeFi
    • Embedded Finance Icon Embedded Finance
    • Fraud/Identity Icon Fraud/Identity
    • Investing Icon Investing
    • Lending Icon Lending
    • Payments Icon Payments
    • Regulation Icon Regulation
    • Startups Icon Startups
  • Podcasts Icon Podcasts
  • Products Icon Products
    • Webinars Icon Webinars
    • White Papers Icon White Papers
  • TechWire Icon TechWire
  • Search
  • Subscribe
Reading
Over $36 Million in New Loans for U.S. P2P Lenders
ShareTweet
Home
News
Over $36 Million in New Loans for U.S. P2P Lenders

Over $36 Million in New Loans for U.S. P2P Lenders

Peter Renton·
News
·Nov. 1, 2011·1 min read

It just keeps getting better. Lending Club and Prosper continued their impressive growth record in October. Between the two companies they issued $36.2 million in new loans – a staggering 139% year over year growth over October 2010.

Lending Club Issues $27.5 Million in New P2P Loans

Lending Club not only issued more loans than ever before last month but the average loan size was also much higher. There were 2,118 new loans issued (also a record) which makes an average loan size of $12,976. Since they increased the maximum loan from $25,000 to $35,000 in February of this year the average loan amount has moved slowly higher.

On the last day of the month Lending Club crossed over $400 million in new loans. The total at the end of the day was $400,956,525 in new loans since they launched in 2007. Below is the 18-month chart for Lending Club – the black line is the 3-month moving average which continues to march ever higher.

P2P Loan volume at Lending Club

Prosper Continues Their Impressive Growth

Prosper also had a fantastic month in October with $8.7 million in news loans issued. They are now within sight of their all time record of $9.6 million achieved in May 2008. The growth numbers at Prosper continue to be astounding. New loans were up more than 18% over September and an impressive 74% over just six months ago.

As usual their number one investor, known as worth-blanket2, lead the way. They invested around $1.3 million according to Lendstats which is actually down somewhat from their pace of the last few months. But I noticed several big new investors picking up the slack. The biggest new investor was new-gold-wrangler. They signed up for Prosper on October 24 and in the last week of the month had already invested over $400,000. That is starting with a bang.

Other big newcomers were brightest-gain-investor, managedfund, transparency-river1, bellaquito and progressive-economy261. Each of these investors kicked in more than $100,000 in October. It looks like Prosper’s efforts on trying to attract the larger institutional investors are really starting to pay dividends. Below is their 18-month chart.

Prosper p2p loan volume through October 2011

Last year November was a down month at Lending Club and it was just slightly up at Prosper. With the holiday-shortened month it will be interesting to see if this record pace continues.

  • Peter Renton
    Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

    View all posts
Tags
Lending Clubmonthly chartsProsper
Related

LendingClub exceeds expectations in strong Q1 earnings

LendingClub delivers better than expected earnings in Q4 2023

New SBA Lending Rules Are Only a Start

lending club q42022 presentation

LendingClub outlines cautious approach to support long-term growth

Popular Posts

Today:

  • Stylizedhouse-with-EKGFintech x the One Big Beautiful Bill Jun. 26, 2025
  • PayabliFunded: Payments infrastructure co Payabli lands $28M Series B to AI-ify Jun. 20, 2025
  • GreenliteAI-Alex-WillGreenlite AI is on a mission to revolutionize banking compliance Jun. 10, 2025
  • WP-Funded2Funded: Maze nabs $25M Series A to stop cloud breaches before they start Jun. 13, 2025
  • Email-AI-pieceAvatar CEOs Have Entered the Meeting Jun. 18, 2025
  • Gazing Into the IPO Crystal BallKlarna Now, A Deluge Later? Mar. 20, 2025
  • Vesey Ventures – Julia HuangWhy agentic AI will spark commerce’s next PayPal moment Apr. 10, 2025
  • Ben Hemani, Founding Partner at Bison VenturesThe Risk and Reward of Betting Big on AI’s Next Frontier Jun. 4, 2025
  • Ironclad State of AI ReportThe Economics of AI Trust Jun. 11, 2025
  • TechNexus The AI IssueThe AI Paradox Jun. 18, 2025

This month:

  • WP UmbrellaTo Bank or Not to Bank: The ILC Question Jun. 5, 2025
  • GreenliteAI-Alex-WillGreenlite AI is on a mission to revolutionize banking compliance Jun. 10, 2025
  • Current stablecoin adoptionWhy Banks (and Fintechs) Need to Embrace Stablecoins Today Jun. 12, 2025
  • ai-work-nexusWalkMe Vets Declare War on SaaS Bloat with $10M Seed for Autonomous Agents Jun. 10, 2025
  • Jon StonaTips from Airwallex x McLaren on Making the Best of a Fintech Sponsorship  Jun. 18, 2025
  • Ironclad State of AI ReportThe Economics of AI Trust Jun. 11, 2025
  • Email-AI-pieceAvatar CEOs Have Entered the Meeting Jun. 18, 2025
  • Globe-money-symbolsOPINION: Why Brazil and India are leading the global digital shift through payment innovation Jun. 24, 2025
  • Revised-AI-InvoiceAI Faces Skepticism. Startups Say: OK, Pay When it Works Jun. 25, 2025
  • DanMurphy-FN-headshotCFPB’s Next Open Banking Battle Begins Jun. 3, 2025

  • About
  • Contact
  • Disclaimer
  • Privacy Policy
  • Terms
Subscribe
Copyright © 2025 Fintech Nexus
  • Topics
    • AI
    • Banking
    • Blockchain/DeFi
    • Embedded Finance
    • Fraud/Identity
    • Investing
    • Lending
    • Payments
    • Regulation
    • Startups
  • Podcasts
  • Products
    • Webinars
    • White Papers
  • TechWire
  • Contact Us
Start typing to see results or hit ESC to close
lis digital banking USA Lending Club UK
See all results