Prosper vs Lending Club — The First 100 Days

Last week Lending Club had a post about their first 100 days — 100 Days and a Million Dollars in Loans!…  This got me thinking, how does that compare with Prosper’s first 100 days?

Here are the Lending Club loans from that article…

Loans issued   172 for $1,046,000

On Prosper during it’s first 100 days (2/16/2006 through 5/27/2006)

Loans issued   985 for $4,716,443 and an average interest rate of 17.78% 

Here is a query you can run on ProProsper to verify the Prosper numbers for yourself…

select count(loanid), sum(amountborrowed), avg(borrowerrate)
from loan
where originationdate>=’02/16/2006′ and originationdate<(cast('02/16/2006' as datetime)+100)

Update… Here I compare loan volume with identical credit score bands and DTI:  Lending Club vs Prosper — The First 100 Days Take 3

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2 comments ↓
#1 Andrew on 09.17.07 at 5:52 pm

How do the numbers stack up when you correct for credit grade (LC only goes down to 640) and DTI (LC only takes <20%)?

#2 Kevin on 09.18.07 at 5:19 am

Thanks for your suggestion. It made an excellent follow up post: Prosper vs Lending Club — The First 100 Days Take 2

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