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Peer to Peer Lending News Roundup – September 13, 2014

by Peter Renton on September 13, 2014

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.

The Economic Health of a Borrower’s City Affects Loan Performance from Orchard – A guest post by a family office investor about how he decides which loans to invest in on Lending Club and Prosper.

Former BlackRock Executive Shifts to P2P Investor Blue Elephant from Crowdfund Insider – From the world’s largest asset manager to a p2p lending hedge fund.

LendingClub: Are Peer to Peer Loans Worth an Investment? from The Motley Fool – This analyst looks at the pros and cons of investing in the common stock of Lending Club.

Peer-to-peer lenders step into vacuum left by banks from TribLive – A look at peer to peer lending in western Pennsylvania and the impact it had on one borrower.

The Tithing of Credit Cards by James Alexander on LinkedIn – How p2p lending is impacting the credit card industry.

Fitch: Lending Club IPO to Be a Milestone in P2P Evolution (press release) – Fitch Ratings weighs in on the Lending Club IPO: “the P2P industry overall would benefit from a successful Lending Club IPO”.

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LAP23: Dave Girouard CEO and Co-Founder of Upstart

by Peter Renton on September 11, 2014

For many years the p2p lending industry in this country has been dominated by two platforms: Lending Club and Prosper. Dave Girouard, the CEO and Co-Founder of Upstart and guest on this edition of the podcast, wants to change that. Upstart began with a unique lending idea called Income Sharing Agreements but earlier this year they pivoted to offer an unsecured loan product very similar to the other p2p platforms.

Half the team at Upstart are ex-Google employees so they have taken a unique data-driven approach to this industry. They have an interesting story to tell and there are takeaways here for all of us. In this podcast you will learn:

  • How working at Google helped Girouard come up with the idea of Upstart.
  • The similarities between making a hiring decision and a credit underwriting decision.
  • How and why Upstart launched with a concept called Income Share Agreement (ISA).
  • Why Upstart decided to change from the ISA to a regular unsecured loan product.
  • Who the typical borrower is at Upstart.
  • How these borrowers are different from a typical borrower on Lending Club or Prosper.
  • The terms and interest rates for the loans on offer.
  • How the underwriting at Upstart is similar to other platforms and how it is different.
  • Why employability is an important factor at Upstart.
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The Lend Academy Speaking Calendar in the Next Month

September 10, 2014

This is a very busy fall for p2p lending conferences. And starting next week with the Apex Lending Exchange Lend Academy will be speaking at several conferences in the coming month. Here is a brief description of these conferences and the sessions where we will be presenting. Apex Lending Exchange: Sep 16-17 (New York City) [...]

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Lending Club Had Their First Down Month Since Feb 2011, Should Investors Care?

September 8, 2014

Until April Lending Club updated their loan statistics every day. But in preparation for their upcoming IPO they moved to a quarterly update cycle instead of daily. So now, we have to wait several weeks after the end of the quarter before we can see the full loan data for loans Lending Club issued in [...]

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Peer to Peer Lending News Roundup – September 6, 2014

September 6, 2014

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. IS AMAZON QUIETLY GETTING INTO THE LENDING BUSINESS? from PYMNTS.com – Amazon has hired a former Visa and Prosper [...]

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Prosper Records More Strong Growth in August

September 4, 2014

When you look at the graph above you can see the kind of year that Prosper is having. Apart from a hiccup in February, they have been firing all cylinders this year with some of the most impressive growth we have seen, at least in this country. The numbers for August are in and Prosper [...]

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Peer to Peer Lending News Roundup – August 30, 2014

August 30, 2014

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. The big news story of the week was the Lending Club IPO. It was covered by every major business news [...]

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Save the Date for LendIt 2015 in New York

August 29, 2014

The 2015 edition of LendIt Conference is now set. We are going back to the east coast next year, back to New York City again. We are booked in at the Marriott Marquis in Times Square on April 13-15. We are still working out the details and we are not yet open for registration but [...]

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Lending Club Files to Go Public

August 27, 2014

Well the time has finally come. It has been more than 20 months since Renaud Laplanche, the CEO and founder of Lending Club, first discussed IPO plans. Earlier today they filed their S-1 registration with the SEC in preparation for the Lending Club IPO. There have been so many rumors flying around the last week or [...]

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Funding Circle USA Acquires LeapPay to Speed Loan Approvals

August 26, 2014

All online lending platforms have to balance two things: a thorough underwriting process from their end and a quick approval for the borrower. Some companies in the small business lending space have chosen a fast and more automated approach. Other companies, like Funding Circle prefer a human to control the underwriting process. But of course, [...]

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