Print

[Urbi_et_Orbi]

SLN reports that, as of this afternoon, LendingClub took the position as the P2P company with the largest amount of loan originations.

It's official. As of 12:45 PST 1/31/2011 Lending Club overtook Prosper:

Lending Club: $217,750,275
Prosper: $217,716,525

ETA:
http://www.sociallending.net/news/lending-club-overtakes-prosper-to-become-the-world%E2%80%99s-largest-p2p-lender/

[Urbi_et_Orbi]

It's getting crowded with p2p ads over on the SLN site.  Is Prosper back to the 10.4% claim now?

[Xenon481]

Nominating to The Lobby!

[jkeller4000]

the spread between lending and borrowing is the same for both. 2.9 difference, this is interesting they both should be doing they numbers by themselves, maybe they have the same fees and such which makes sense they want to be competitive.   so thats why lending club is winning you need people to want the loans! so they offer the lower borrowers interest rate.   so if they get into a bidding war, each lowering their base  rate to get more borrowers we the lenders will start to suffer maybe,

[mothandrust]

With Prosper you get a higher rate, and you get the girl.  No comparison.

[SLN]

Thanks Urbi for the plug. And yes, my site has ads - I spend quite a bit of time on it and want to recoup some pocket money.

And thanks for posting the picture of my ads. Someone at Prosper noticed this and sent me an email. I was running old versions of their ads. New ones are on the site now (http://www.sociallending.net/). Prosper now has a 4.5% spread in the ads.

[Mtnchick]

Thanks Urbi for the plug. And yes, my site has ads - I spend quite a bit of time on it and want to recoup some pocket money.

And thanks for posting the picture of my ads. Someone at Prosper noticed this and sent me an email. I was running old versions of their ads. New ones are on the site now (http://www.sociallending.net/). Prosper now has a 4.5% spread in the ads.

 

[Urbi_et_Orbi]

I don't have a problem with you running ads. What I don't understand is how it is possible for you to display old ads? Doesn't Prosper control what ads they serve up?

Otherwise, how do they ensure their advertising complies with applicable regulations?

[ira01]

Otherwise, how do they ensure their advertising complies with applicable regulations?

Since when has Prosper worried about that?

[SLN]

I don't have a problem with you running ads. What I don't understand is how it is possible for you to display old ads? Doesn't Prosper control what ads they serve up?

Otherwise, how do they ensure their advertising complies with applicable regulations?

The problem stemmed from their affiliate partner I use, Adworkz. The ads had been updated with them, but it seems there was a problem with their automatic update feature.

[Urbi_et_Orbi]

I don't have a problem with you running ads. What I don't understand is how it is possible for you to display old ads? Doesn't Prosper control what ads they serve up?

Otherwise, how do they ensure their advertising complies with applicable regulations?

The problem stemmed from their affiliate partner I use, Adworkz. The ads had been updated with them, but it seems there was a problem with their automatic update feature.

I see your site is still displaying the 10.4% claim as of today.  Has Prosper updated their ads again, bumping up their ROI claim at the same time they lowered their rates?

http://www.sociallending.net/state-of-the-industry/interview-with-senior-management-at-prosper/

[SLN]

I see your site is still displaying the 10.4% claim as of today.  Has Prosper updated their ads again, bumping up their ROI claim at the same time they lowered their rates?

I just went and double checked and I have the latest versions of the ads. Even though they are now claiming on their web site that it is 10.1% returns for lenders, the ads all still say 10.4%. This is after the update of ads from earlier this month.

[SLN]

Just an fyi to everyone, Prosper finally changed their ads today so that they now read actual returns 10.1%.

[DCS]

At this moment, there is an ad on SLN's site from Prosper advertising for borrowers to get a loan at "rates starting at 5.9%."

When I look at actual listings on Prosper, the lowest I see have a borrower APR of 4.99%.  Why didn't Prosper use this number, as that appears to be where the borrower rates really start?

[TotoMMB]

At this moment, there is an ad on SLN's site from Prosper advertising for borrowers to get a loan at "rates starting at 5.9%."

When I look at actual listings on Prosper, the lowest I see have a borrower APR of 4.99%.  Why didn't Prosper use this number, as that appears to be where the borrower rates really start?

Maybe they can't keep up with all their promotions and rate tinkering...