Available Loans Jump Dramatically at Prosper

It looks like the 5th birthday promotion for Prosper was a resounding success yesterday. As of this writing Prosper had 231 loans available for investors. This is a far cry from last month where they struggled to reach 50 loans for most of the month. Here is a breakdown of the 231 loans available by credit rating:

AA: 54
A: 50
B: 39
C: 23
D: 38
E: 16
HR: 11

The astute investors will see that Prosper has brought back HR (as in high risk) loans after moving away from them two months ago. All these loans are for people with credit ratings between 620 and 699 and all carry interest rates above 30% interest. They are certainly only for those investors with a high appetite for risk.

But the increased volume is good news for Prosper lenders and p2p lending in general. I, for one, like to see more choice in the loans available. One interesting thing to note is that Lending Club also saw a bump in loans yesterday (they are at 421 loans available on their platform right now). Seems like Prosper’s promotion was good for both companies.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.