On Thursday, December 5th 2013, Lending Club Founder and CEO Renaud Laplanche provided the following testimony to the House Committee on Small Business, and specifically the Subcommittee on Economic Growth, Taxes and Capital Access.
Lending Club aggregates data from 25 sources in its underwriting. For example, Lending Club works with Intuit to get accounting information about potential borrowers — with their clients’ permission, of course — to judge creditworthiness. Data from customer satisfaction sites like Yelp also can be used in underwriting. So can FedEx shipping data and even […]
Since first writing about my plans to invest more in P2P through Prosper.com, I’ve been having a difficult time mobilizing a sizable amount of assets to make a difference in my passive income stream portfolio. When I say sizable, I mean more than $50,000. The main reason is that I’m just not absolutely comfortable making […]
Peer-to-peer lending first emerged as an online business model in the middle of the last decade, with sites such as Zopa in the UK and Prosper in the USA. Although Lendico currently only operates in Germany, it’s common for Rocket Internet to expand its businesses to multiple markets. Indeed, Rocket says Lendico will arrive in […]
Lending Club and Prosper Top $280 Million in New Loans in November
Peer-to-peer lenders differentiate themselves from such crowdfunders by focusing purely on linking companies or individuals with other people who are willing to lend them money at a certain rate of interest.
Today we reached $3 billion in cumulative loan volume – we crossed $1 billion just last November!
Peer to peer institutional investors are companies who invest in places such as Lending Club and Prosper on behalf of their clients. We reached out to one named Looking Glass Investments (LGI) which is headquartered in Milwaukee, WI. We had the opportunity to talk with co-founders Matthew O’Malley and Dr.Chad Cotti about their experience in […]