The numbers are in for April and it was another great month for Lending Club and Prosper. For Lending Club it was another record month, with $17.5 million in new loans issued. The last day of the month provided the usual bump with just over $4 million in new loans issued on April 29. This is the fourth time in five months that Lending Club has had a record month and the growth rate seems to be accelerating as you can see in the chart below.
For Prosper the news was also very good. They broke $5 million in new loans for the first time since they reopened in July 2009 after their SEC imposed quiet period. They are maintaining their rapid growth curve that really began after they changed their lending model in December. In just three months Prosper has increased their loan volume more than 50%, as you can see from the steepening of the black three month rolling average curve in the chart below.
