Prosper vs Lending Club — The First 100 Days Take 2 | P2P Lending, Peer to Peer Lending, People to People Lending

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)…

CreditGradeLoanCountLoanAmountAvgRateAA105$739,5498.86%A109$810,66011.20%B121$850,59113.72%C185$830,92716.35%520$3,231,727

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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