Comments on: Prosper vs. Lending Club SmackDown–Who has the best interest rates?

By: » Compare Prosper.com vs. Lending Club - Thomas Korte

» Compare Prosper.com vs. Lending Club - Thomas Korte — Wed, 18 Nov 2009 20:24:31 +0000

[...] posts that helped me decide to invest in p2p: 1, 2, 3, 4, [...]

By: Lender

Lender — Fri, 17 Apr 2009 04:08:34 +0000

There’s really no buyer for your notes, unless you sell for a loss. Recently, the number of people lending money have dropped off drastically. As for you paypal deposit, you have to use it all with LendingClub or they’ll lock your account out. Imagine that, having your account locked out when it’s not even in the contract.

A company that makes up new unadvertised rules with your money. You decide.

By: Lending Club Trading Platform | Buy and Sell P2P Loans

Lending Club Trading Platform | Buy and Sell P2P Loans — Thu, 15 Jan 2009 18:15:55 +0000

[...] If you’d like more information on how LendingClub calculates interest rates, check out this article comparing LendingClub and Prosper. [...]

By: Interview with LendingClub’s Director of Product Strategy, Rob Garcia

Interview with LendingClub’s Director of Product Strategy, Rob Garcia — Wed, 14 Jan 2009 11:40:44 +0000

[...] I got the opportunity of meeting LendingClub’s Rob Garcia when I was doing my research on how LendingClub and sets interest rates. Rob joined the founders of Lending Club and serves as the Director of Product Strategy there. His [...]

By: DR

DR — Wed, 14 Jan 2009 01:15:10 +0000

zylstra, that’s right. Prosper originally filed an S-1 registration statement with the SEC first, but messed it up. Now they are behind Lending Club. The big difference is that LC has a secondary market for its notes where investors can buy and sell existing loans. Prosper won’t be able to do this until its S-1 goes effective.

By: zylstra

zylstra — Tue, 13 Jan 2009 08:59:40 +0000

bill, not so fast; Prosper is simply going through the same registration process with the SEC that Lending Club did a few months ago.

By: NorCalSavant

NorCalSavant — Mon, 05 Jan 2009 02:21:27 +0000

DR, Very nice post and comments. I would agree that Lending club, especially with new rules is probably a better deal for lenders than Prosper if it comes back with the same system. Liquidity concerns could be answered a little by the new note selling feature on Lending Club. However, one thing I would like to point out about P2P lending in general is that for the lenders the interest rates on these loans are not directly comparable with interest rates and returns on CDs or savings accounts ignoring default risk and liquidity. In general interest rates on a P2P loan have to be about twice the interest rate on a CD or savings account for the same duration to result in similar total cumulative return. You can see the detailed calculations and explanations here.

By: How I Overcame My Fear of Lending Money on Prosper.com

How I Overcame My Fear of Lending Money on Prosper.com — Wed, 10 Dec 2008 02:04:29 +0000

[...] it registers its debt with the SEC. Fortunately, Lending Club is an excellent alternative. You can compare how Lending Club and Prosper set interest rates or go directly to Lending [...]

By: bill

bill — Fri, 28 Nov 2008 06:47:59 +0000

You might want to update this article. Lending Club is the better choice for one reason; it is SEC approved, whereas Prosper received a “cease and desist” letter from the SEC.

Currently, the only legal game in town is Lending Club (http://www.lendingclub.com)

By: P2P Loan IQ » Blog Archive » » How Lending Club Sets Interest Rates, Part 1

Mon, 29 Sep 2008 12:48:15 +0000

[...] Prior to August 2008, Lending Club had a simple method for calculating the interest rate. They asked for three numbers: your FICO score (which rates your credit risk based on past credit history and current situation), your debt-to-income ratio (which measures how much of your income goes to paying off your current debts) and the loan amount. If you are interested how the calculation used to work, Dough Roller describes it in detail. [...]