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Peer to Peer Lending News Roundup – March 9, 2013

by Peter Renton on March 9, 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.

Lending Club Review – 2 Years, 6.23% Return, 5 Loans Charged Off from Military Money Manual – This Lending Club investor is changing strategies after 2 years.

Can you trust ‘peer to peer’ lending? from The Telegraph (UK) -A fairly complete rundown on the top companies in the UK p2p lending industry, and check out those default rates.

Lending Club Loans – Principal Paid Back and Months of Payment from Random Thoughts – The most important loss factor for investors is the amount of principal lost when a borrower defaults.

Lending Club 5 Year Returns Outpace S&P 500: My Returns Near 11% from Bible Money Matters – Long time blogger and Lending Club investor compares 5-year returns at Lending Club to the S&P 500 as well as high yield bonds.

SoMoLend Closes $2 Million Seed Round from Yahoo Finance – Press release from SomoLend announcing the funding round for the new peer to business lender.

Want to Get Off the Investment Rollercoaster? from Lending Club blog – It has been a few months since we had a blog update from Lending Club, this one shares a professional new video they have produced.

Capitalizing on Financial Innovation – Part II: Accessing Small Business Growth Capital Right Now from Now Street Journal – There are many options today for small business financing including p2p lending.

10 Best Ways to Earn More Interest on Your Savings from Kiplinger – Nice to see Prosper and p2p lending make this top 10 list (at number 9) of saving ideas.

Linked Finance Launches P2C Lending in Ireland from P2P Banking – A new peer to business lending company launches in Ireland.

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.

What will happen if Lending Club becomes a public company? – A discussion of the impact on investors of a Lending Club IPO.

Number of Available Loans During 24 hrs: Grades A-C and D-G - Great look at the loan volume throughout the day at Lending Club showing how quickly new loans are snapped up. Might expand this into a full blog post.

No more info on loan investors and bids - Prosper stopped displaying lender screen names and bids this week.

{ 4 comments… read them below or add one }

jack March 9, 2013 at 1:41 pm

Peter,

Do yu have any insight as to why there are very few loans available at Prosper? As of today there are only 60 available which is the worst I have seen since I started investing back in 2008.

Just curious if the new management implemented more stringent requirements thus eliminating additional loans or if it is somehting other than that.

Reply

Peter Renton March 9, 2013 at 5:46 pm

Prosper is struggling right now with the borrower/investor balance. Just three days ago there were 200+ loans available but they have had quite a bit of investor money come on to the platform this week. They need to ramp up the borrowers next week because there is clearly increased investor demand but not enough loans to satisfy them.

Reply

Rita May 12, 2013 at 12:05 pm

Hello, I am looking for loan, my bank refused me. Can you to help, if Ineed 7000 euro for 2 or 3 years? Iam working full time ( 1750 monthly).

regards Rita

Reply

Peter Renton May 13, 2013 at 5:46 am

Rita, I cover the p2p lending industry in the United States and I only make loans through the consumer lending platforms Lending Club and Prosper. So, I am sorry but I cannot help you.

Reply

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