Learn the Basics of Borrowing and Investing with Peer to Peer Lending

Subscribe to our weekly newsletter and get access to exclusive content plus a free copy of our ebook, “Understanding Peer to Peer Lending” (updated monthly).

Prosper Acquires American Healthcare Lending

More big news from Prosper today and this story is very significant. Prosper has completed their first acquisition – American Healthcare Lending (AHL) – for $21 million in cash.

As the name implies AHL is for patients looking to finance their medical procedures. Founded in 2009 in Salt Lake City, Utah, they work in a number of verticals within health care: cosmetic surgery, fertility, spine and neuro surgery, behavioral health, just to name a few. They are not actually a lender as such; rather they have developed a cloud-based patient financing platform that is integrated with a variety of lenders including Prosper.

This is from the AHL website:

American HealthCare Lending sits at the intersection of the healthcare, technology, and financial services markets and we are using technology to bring innovative financial services solutions to a massive healthcare problem. Our patient financing platform allows healthcare providers nationwide to Make Healthcare Affordable™ for patients every day by offering high-dollar installment loans to individuals with good credit.

This acquisition all started when AHL became a referral partner of Prosper last year. AHL is an innovative young company that appealed to the executive team at Prosper. They are looking to disrupt financing in the healthcare industry in a similar way Prosper is looking to disrupt the broader consumer lending industry.

AHL works directly with a number of lenders, including Prosper, but their main innovation occurs inside the doctors’ offices. The patient can enter their information on the spot and get a decision on their loan instantly. The maximum loan size is $100,000 and loan terms go up to 7 years. Obviously the loans they refer to Prosper would fit within Prosper’s loan terms – a maximum size of $35,000 and a maximum loan term of 5 years.

A Strong Position in the Medical Financing Market

[click to continue…]

{ 1 comment }

Prosper Stops Updating Their Loan Data on a Daily Basis

by Peter Renton on January 26, 2015

In a move that was not unexpected Prosper announced today that it will no longer update its loan data on a daily basis. Data will now be available 45 days after the close of each quarter.

Now, when you go to their data download page there are no files to choose – you just receive this message:

Prosper Data Downloads no longer available

As I said, this move is not very surprising. Lending Club made a similar move in April last year. What is a little different is the explanation that Prosper has given for this change. On their blog post and in an email to investors today Prosper clearly stated the reason for this change: [click to continue…]

{ 1 comment }

Marketplace Lending News Roundup – January 24, 2015

January 24, 2015

During the week I share the latest marketplace 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. RBS to refer rejected small firms to peer-to-peer lenders from Reuters UK – The biggest news of the week was undoubtedly […]

2 comments Read the full article →

LendingRobot Closes on a $3 Million Series A Funding Round

January 21, 2015

The marketplace lending ecosystem continues to develop. Yesterday, LendingRobot announced a significant funding round that will allow it to “improve its service and to accelerate growth” according to their press release. Russian venture capital firm, Runa Capital, led the $3 million round. They have previous experience in this industry through their investment in leading UK P2P lender […]

4 comments Read the full article →

Marketplace Lending News Roundup – January 17, 2015

January 17, 2015

During the week I share the latest marketplace 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. Heads I Win / Tails You Lose: Rising US Interest Rates in 2015 & Their Potential Impact on The Marketplace Lending […]

0 comments Read the full article →

Google and Lending Club Announce Their First Partnership

January 15, 2015

Today, Lending Club announced a new partnership, one that many of us have been anticipating for some time. It has been almost two years since Google invested in Lending Club and we have all been waiting for some kind of partnership to be announced since then. While the partnership announced today is not what many […]

6 comments Read the full article →

The Software Company Powering Marketplace Lending Platforms

January 13, 2015

Last year dozens of marketplace lending platforms launched all over the world. Given the publicity this industry has received recently many more platforms will likely launch this year. And every one of these platforms will need software to run their lending operation. Enter Cloud Lending. Founded in 2012 by Snehal Fulzele and Darpan Saini in […]

3 comments Read the full article →

Marketplace Lending News Roundup – January 10, 2015

January 10, 2015

During the week I share the latest marketplace 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. International P2P Lending Services – Loan Volumes December 2014 from Wiseclerk – The monthly numbers from all the major European platforms. […]

0 comments Read the full article →

Podcast 30: Rohit Arora of Biz2Credit on Small Business Lending

January 7, 2015

Rohit Arora, the CEO and Co-Founder of Biz2Credit has been quietly building one of the leading small business lending platforms in this country. If you haven’t heard their name much I can assure you that is going to change very soon. They have issued over $1.2 billion in small business loans to date and will […]

9 comments Read the full article →

Five Predictions for 2015

January 5, 2015

Happy New Year everyone. Here is my annual predictions post where I review my previous years predictions and make some new ones for the new year. Review of my 2014 Predictions Lending Club will issue $5.3 billion in new loans With Lending Club no longer providing timely updates on their loan book we will not know […]

21 comments Read the full article →
Real Time Analytics