The P2P Lending Industry Keeps Hitting Records

I am beginning to sound like a broken record at the end of every month but the numbers just keep getting better. September was another great month for the US p2p lenders Lending Club and Prosper. Both companies kept on their steady growth path when it comes to new loan volume and Lending Club once again broke their record set just last month. The total of both companies came in at just over $32 million.

Lending Club Does a Hair Under $25 Million

Lending Club came within just a couple of loans of $25 million in new loans in September. Their official new loan total for the month was $24.96 million – a record for any p2p lender and roughly $2 million more than last month. But again we had a smaller last day bump than in the past – just under $2 million came in on the last day of the month.

Take a look at the Lending Club chart below. The last seven months has seen Lending Club’s numbers march steadily higher.  The black line is the three month moving average.

Lending Club p2p loan totals Sept 2011

Prosper Up 367% in the Past 12 Months

In the last 12 months Prosper has gone from $2.0 million in new loan volume (September 2010) to $7.4 million a year later, an increase of 367%. This month also marked the 12th month in a row that Prosper has recorded increased loan growth. Their largest investor, worth-blanket2 continued their high level of investment with another $1.8 million invested according to Lendstats. That brings their total investment since coming on board in May to around $7 million.

There is also a new institutional investor that has just started up on Prosper (thanks for the tip Jason) who goes by the screen name of intelligent-repayment8. They don’t look like they are in the same league as worth-blanket2 but they have invested $140,000 since coming on board on September 27th, just three days ago. They are certainly an investor I will be keeping an eye on.

Here is Prosper’s new loan chart for the last 18 months. Volume certainly keeps moving in the right direction.

Prosper New P2P loans Sept 2011

  • 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.