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