$25.6 Million in Loans Facilitated by U.S. Peer-to-Peer Lending Companies in June
Prosper.com and Lending Club facilitated a total of $25.6 million in loans during the month of June, marking another solid month for the peer-to-peer lending industry in the United States.
Lending Club facilitated 1,835 loans between borrowers and lenders during the month of June, with a total loan volume of $20,012,025.00. Lending Club saw a 7.4% increase in loan volume compared the month of May, when the company facilitated 1,704 loans totaling $18,532,075. Prosper setup 906 loans during the month of June totaling $5,606,303. Prosper’s growth was relatively flat compared to the month of May, when it facilitated 807 notes totaling $5,600,451.

The month of June marks another consecutive month when both Lending Club and Prosper Loans have set new loan volume records. Lending Club has now hit new loan volume highs during seven of the last nine months and Prosper.com has seen positive loan volume trends for the last year. Prosper remains unable to hit the highs that it saw before being forced to temporarily shut down operations in 2008, but the company may be able to return to its previous highs with the help of a commitment to fund $150 million in loans that it received from an institutional investor. You can see the institutional investor’s lending activity on LendStats. The investor operates under the name “worth-blanket2.”
During the month of June, Prosper announced that it had received a $17.2 million Series E round of venture capital. The company had been running low on cash, but received a shot in the arm from Draper Fisher Jurvetson, Crosslink Capital and its existing investors. Lending Club also appears to be doing well financially on its own right. Social Lending Network’s Peter Renton reported that Lending Club is breaking even on an operational basis and now has more than $1 million in monthly revenue; however, the company remains unprofitable overall because of continued investment in its platform.
Prosper has now issued a total of $242,107,323 across 40,857 notes as of June 30th, 2010 since launching its service in November 2005. Comparatively, Lending Club has issued $304,945,100 across 30,042 loans since it launched its service in 2007.






