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Updated Investor Reviews for Lending Club and Prosper

Detailed reviews and new video walkthroughs of the two leading p2p lending platforms: Lending Club and Prosper

June 24, 2015 By Peter Renton 3 Comments

Views: 12

It has been over 18 months since I last updated our investor reviews and a lot has changed. So this month Ryan and I have spent some time updating our reviews for both Lending Club and Prosper.

Lending Club Investor Review

You can read our detailed Lending Club review here. And below you can watch the updated video review that I recorded earlier this month. If you can’t see it below here is the link to it on YouTube.

[leadplayer_vid id=”558B51EF11E1A”]

In Depth Prosper Review

Here is our detailed Prosper review. And below you can watch the updated video review. If you can’t see it here is the link to it on YouTube.

[leadplayer_vid id=”558B52A18B8C6″]
The reviews are designed for new investors to provide one place to learn all about the respective platforms. I hope you find them useful.

Filed Under: Peer to Peer Lending Tagged With: Lending Club, Prosper, reviews, video

Views: 12

Comments

  1. Dan says

    June 25, 2015 at 4:28 am

    Prosper just updated their payout platform. I’m not yet sure what is going on there but a couple of payments were reversed on my account. The part that I am not happy about is they reversed the payments (charged) my account the amount of the payment but didn’t credit their fee. In other words I just payed for someone else’s loan. I called two days ago in regards to this and supposedly it was escalated whatever that means. I would say that Prosper is not the better way to go as far as your bottom line.

    Reply
  2. Paul S says

    July 1, 2015 at 11:21 am

    You are clearly disadvantaged with Prosper because the Institutional funds get the best credits.

    There is an approximate 400-500 basis point disadvantage. LC is the clear choice. However, I do keep investments in both platforms because the market could shift and you need to reference your internal pricing models.

    Reply
    • Peter Renton says

      July 6, 2015 at 9:47 pm

      Hi Paul,

      I disagree that at Prosper the institutional funds get all the best loans. Prosper randomly assign loans between the whole and fractional platform and if you are investing through an API then you have all the same advantages as the institutional funds.

      And I am not sure where you come up with your 400-500 bp advantage to LC. While LC has some advantages, such as having more loans available to investors and better automated investment tools, it has not been my experience that there is a wide returns difference here. You can see my returns in my most recent quarterly update:
      https://www.lendacademy.com/my-quarterly-p2p-lending-results-q1-2015/

      Reply

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LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

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