Roundup of Social Lending News – October 15, 2011

Every Saturday I bring you the latest news from the world of peer to peer lending. These are the best of the news articles and blog posts from around the web that I shared on Twitter this past week.

I started creating these weekly news summaries about five months ago and this week was by far the busiest I have ever experienced as far as news goes. It seems like everyone was writing about peer to peer lending this week including some really high traffic sites. Speaking of which, if you only read one article on this list make it the GOOD article. This article was all over Twitter and Facebook this week and it is an excellent article to send to someone who doesn’t really get p2p lending. Enjoy your weekend.

Investor Junkie – Lending Club (October 2011 Update)

Prosper blog – An Update on Peer-to-Peer Lending Performance

Yes, I Am Cheap – Two Years of Peer-to-Peer Lending Results With Prosper

Dataspora – Mining Lending Club’s Goldmine of Loan Data Part I of II – Visualizations by State


Lending Club Experience – Third Month and Going Strong

EurActiv (Europe) – Online business angels fly to SMEs rescue

Nickel Steamroller – Current Policy on Lending Club’s Data Export – What is its True Meaning?

Everything Finance – Prosper Peer to Peer Lending: A Review

Wiseclerk (UK) – Ratesetter Finishes Successful First Year

24/7 Wall St – Peer-to-Peer Lending: Opportunity for Investors & Borrowers Alike

GOOD – Peer-to-Peer Lenders Take Banks Out of the Credit Equation

Investor Junkie – Lending Club vs Prosper (this is a guest post I authored)

Money Q&A – How I Got Greedy And Lost My Shirt With Peer To Peer Lending Loans

P2P Lending News – How to Get Funded When Applying for a P2P Small Business Loan

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Oct. 15, 2011 11:37 am
Oct. 15, 2011 11:38 am


Oct. 15, 2011 11:53 am

School alumni peer lending to current students (Prodigy -UK)

Dataspora’s post was great stuff

Doc Realtor
Doc Realtor
Oct. 15, 2011 1:32 pm

Who is doing the research here?

This topic is totally incorrect: ” Peer-to-Peer Lenders Take Banks Out of the Credit Equation”

The two biggest p2p lenders *Lending Club* and *Prosper* are affiliated with WebBank and Industrial Bank in Utah. Industrial Bank services GE Credit, GM Credit, American Express Credit and many store brand credit cards. They specialize in managing credit cards. They are a bank insured by the FDIC, they are just an Industrial Bank, like WalMart wanted to become.

The other kind of bank is a Commercial Bank. Same system, many of the same investors. This is from WebBank’s website:
Products & Services

As an Industrial Bank, WebBank can provide national financial solutions. There are few other financing options offering the flexibility, resources, experience and expertise as you have with WebBank. Our staff is comprised of industry experts who care about people. When you contact WebBank our conversation begins not with a machine telling you what to do but with a personal “hello”. We listen and work with you to develop a program that fits your specific needs and objectives.

Strategic Partnerships
WebBank is a leading provider of national origination platforms for consumer and commercial private-label and bank card programs.


The Strategic Partnership Group works closely with partners to design, develop, implement, administer and fund customized consumer and/or commercial closed network financing program(s) through WebBank. The following private-label products are currently supported by WebBank:

* Closed-end Installment Loans (Consumer & Commercial)
* Revolving charge (Consumer & Commercial)

Bank Card

Similar to private-label, the Group works closely with partners to structure and issue bank card branded products under WebBank’s charter and principal bank card association membership. Products supported:

* Private-Label / Co-Brand / Dual-Line Cards (Consumer & Commercial)
* General Purpose Credit (Consumer & Commercial)
* Small Business
* Fleet Cards

Alternative Financing Products

WebBank also currently supports the following types of alternative financing products:

* Peer-to-Peer
* Credit Card Alternatives

Investor Junkie
Oct. 16, 2011 7:15 pm

Thanks for the mention, and for the guest post!

Charlie H
Charlie H
Oct. 18, 2011 5:52 pm

Tanya at Dataspora is doing some AMAZING work!

Now if we could get Nick, Eric, and Tanya in a room together we would really have some strong data modeling.