Aberdeen has just hit the $2,000,000 level in total funds lent out.
http://www.lendstats.com/loansearch/loanfilter.php?type=lender&lender=aberdeenReflective-rupee is not far behind, he'll probably hit $2,000,000 in a month or so.
I also want to point out the microscopic loss rate that Aberdeen has had since relaunch. We're talkin about 1% defaulted and <1% late. By anyone's standards that's pretty good even at an average loan age of 6.4 month.
Can anyone guess why Aberdeen is doing so well? Let me tell you. He's lending 90% to repeat borrowers.
How do I know that? Well, LendStats just added that stat to the average loan profile. It's very illuminating.
The next logical question is why did this strategy not work so well for Aberdeen during 1.0?
I think it has something to do with the number of payments that the repeat borrowers made. During 1.0 the repeat borrowers he lent to had made an average of 15 payments, since relaunch however the average number of payments has increased to 35!