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Lending Club Breaks $20 Million in New Loans in June
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Lending Club Breaks $20 Million in New Loans in June

Lending Club Breaks $20 Million in New Loans in June

Peter Renton·
News
·Jun. 30, 2011·1 min read

The numbers for June are in the books and Lending Club had another fantastic month, breaking $20 million in new loan volume for the first time. Prosper was relatively flat in June compared to May with just a tiny 0.1% increase in loan volume.

It was a funny month for Lending Club. Halfway through the month I thought they wouldn’t break a record in June as loan volume wasn’t above the pace in May. But then the number of new loans on the platform picked up with close to 800 loans available at one stage last week. And as happens every month the big money came rolling in towards the end of the month and June ended very strongly with $5 million in new loans being funded today. Also today, Lending Club crossed over $300 million in total loans issued since inception.

Lending Club P2P Loan Volume Through June 2011

Prosper matched what they did in May but their run of double digit percentage increases every month came to an end. Although they have had positive loan growth for nine months in a row now. Prosper ended up at $5.6 million in new loans, just $6,000 more than last month. They also finished the month strongly with $2.1 million in loans originated in the last week of June.

Worth-blanket2, the big institutional investor I wrote about last week continued to invest although not as much as in May. It looks like they kicked in around $600,000 in June which is about half what they did in May. So, when you look at it from that perspective Prosper picked up $600,000 in new lender money outside of their largest institutional investor. Not a bad effort. The three month moving average (the black line in the chart) still looks pretty impressive.

Prosper P2P Lending Volume Through June 2011

  • 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.

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