Pertuity Direct Lends $500K in First Two Months
Two months after their official launch, Pertuity Direct has issued a press release stating that they have enabled $500,000 in new loans to consumers.
Other statistics provided include:
- 70% of interested users follow through to open an account
- The average FICO score is 740 for approved borrowers
- The average loan size is $9,800
How does this stack up against other P2P lending sites? Prosper, who launched to the public on Feb 6, 2006, had funded $1.8 million by Apr 6 (according to Prosper’s statistics page). Lending Club, who is probably a better comparison due to their credit quality requirements, launched to the public on Sep 13, 2007, and had funded $1.2 million by Nov 13 (according to LendingClubStats.com).
Granted, the financial world is quite different today than it was two or three years ago. Investors’ portfolios have been decimated, and would-be lenders are more risk-averse than ever. We wish Pertuity Direct the best, but they’ll need to come with bigger and bigger numbers if they really want to succeed in the peer lending space.
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[...] Direct has not issued a press release since March (when they announced that they had funded $500,000 in loans), and hasn’t made a blog post since May. P2P Lending News contacted Pertuity Direct [...]