Posts Tagged ‘ Loans ’

Today, The Big Money, an outlet we and many others respect, published a disappointingly inaccurate story about Prosper and the peer-to-peer lending industry.  It’s unfortunate that the author’s data analysis and perspective relied almost entirely on a hodgepodge of anonymous sources.  If higher reporting standards had been upheld, the reality that Prosper has shown great promise and performed well on a relative basis over the last three-years would have been self evident.

Continue reading An Open Letter to The Big Money: Retract Your Story

Consumers who lose their jobs can’t get loans to cover periods of unemployment; businesses that encounter trouble due to low demand can’t get credit lines to see them through to recovery. Furthermore, banks are more interested in recapitalizing than in lending. Growth in P2P lending will be driven by investors seeking higher returns and borrowers shunning (or being shunned by) banks. Gartner recommends that financial services providers investigate how to partner and collaborate in adding P2P to their existing offerings rather than building their own P2P lending networks.  Full article

Today Prosper released our November 2009 performance data. Notable in November, the average credit score of funded borrowers was 718 and 54% of loans were for debt consolidation purposes.

Continue reading Prosper Sees Spike in Borrowers Seeking to Knock Out Credit Card Debt

Prosper News Updates:

November 11, 2009
Fast Company: Peer-to-Peer Lending Explained: Brother, Can You Spare $100? By Lydia Dishman

Continue reading Prosper’s Media Roundup – 11/17/2009