Peer to Peer Lending News Roundup – July 6, 2013

During the week I share the latest p2p lending news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.

Despite the holiday shortened week here in the U.S. there was a great deal happening in the p2p lending world. Lending Club crossed $2 billion in total loans issued less than eight months after crossing $1 billion. As you can see from the long list below there was plenty of other news this week.

Is Lending Club or Prosper a Risky Investment? from Investor Junkie – In response to a recent article claiming that p2p lending is too risky Investor Junkie takes a close look at the risks involved today.

The Ultimate Guide to Making Money with Lending Club from Narrow Bridge Finance – Detailed review of Lending Club for new investors.

Growth Capital: RateSetter is a peer-to-peer lender aiming to calm savers’ worries from London Evening Standard – Ratesetter in the UK has raised £5 million in new equity capital that values the company at £30 million.

Lending Club Exceeds $2 Billion in Personal Loans (press release) – Details of the milestone Lending Club crossed this week.

The future of crowdlending is here: Endurance presents at Lendit! from Endurance Lending Network – Another writeup of LendIt this time from an exhibitor, panelist and small business lender.

Credit data may open to P2P lenders from Global Times (China) – The national repository of credit data has been off limits to p2p lenders in China but that may be changing.

For online lenders, Wall Street cash brings growth and risk from Reuters – Many interesting tidbits in this article that is focused on the institutional side of p2p lending.

Which States are Open to Lending Club and Prosper? from LendingMemo – An up to date list of what states are available to investors and borrowers of Lending Club and Prosper.

Peer-to-peer lending made simple – the co-operative way from The Guardian (UK) – An interesting take on p2p lending by this farming co-op in the UK.

Central Bank Raises the Red Flag over P2P Lending Risks from Bamboo Innovator (China) – The Chinese central bank has released a report on p2p lending that details concerns about the risks.

Show Us Your Pay Stub: Income Verification in P2P Lending from Social Science Research Network – Academic paper on the impact of income verification for investors at Lending Club.

Zopa Announce Business Loans from Wiseclerk – Just like Lending Club, Zopa in the UK are expanding into small business loans.

Redwood City startup Daric filed plan to push peer-to-peer loans from Silicon Valley Business Journal – I just found out about Daric this week, a new p2p lender lender getting ready to launch. I will have more information about them coming soon on the blog.

From the Lend Academy Forum

The Lend Academy forum is where investors go to discuss p2p lending. Below are some topics that were being discussed this week.

The thread for unashamed griping – This thread has proven to be the most popular on the forum this week.

How much to invest in p2p lending – This question appears regularly on the forum as some people look to go over the recommended 10% limit.

Late Fee – Sometimes late fees are waived at Lending Club, as investors should we care?

  • Peter Renton

    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.

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