Yesterday, in reaction to Lending Club’s post 100 Days and a Million Dollars in Loans! I did a straight comparison on loan volume during the first 100 days. A reader pointed out, Lending Club loans are in a smaller credit band than Prosper and wondered how the 2 compared when that is factored.
Lending Club only has scoreX scores of > 640 (I couldn’t find this documented on Lending Club website, but it was referenced in a wall street journal article here.) This corresponds to a credit grade of C or higher on Prosper (documented on Prosper here).
As a reminder Lending Clubs claims for the 1st 100 days…
Loans issued172 for $1,046,000
Here is Prosper’s loan volume for AA-C credit grades from 2/16/2006 through 5/27/2006 (1st 100 days)…
Here is the sql you can use on ProProsper to verify the Prosper numbers…
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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