Record June Month for Lending Club and Prosper
Lending Club disbursed $158.1M in June, slightly over $10M more than the month before. Loan volume was at 10,899 in June, up from 10,350 in May. Prosper issued $27.5M worth of loans. This growth increase of $2.5M is lower than the $5M it enjoyed in the 2 periods prior, but still remarkable given the recent management and platform changes.
(via Lend Academy; Lendstats)
LendIt Conference Feedback from FC
With the inaugural LendIt conference over for about a week now, here’s a look at what P2P platform FundingCommunity had to say about it and their key takeaways from the event.
(via FundingCommunity)
A Look at how P2P Interest Rates are Set
The folks at Wiseclerk have put together a great article that goes into some detail on how interest rates at social lending platforms are set. Several elements that the article goes into include market mechanisms (loan listings, markets, auctions etc) as well as the exact method at which interest rates are set. Definitely worth a read.
(via Wiseclerk)
