Provider APR +/- w/w
LendingClub 10.54% 0.05%
Prosper 20.49% 2.66%
peer to peer lending rate compare

 

Borrowing rates between Lending Club and Prosper widened this week as Prosper APRs increased to over 17%, while Lending Club continued to remain steady at around 10%. The most significant development this month is the growth in loan volume for Lending Club – trending at almost 50% month-over-month, while Prosper now trends down – its first month-over-month decline in over 2 years. Month-to-date through August 18th, Prosper issued 732 loans for $4,207,892, while Lending Club issued 4,223 loans for $53,592,175. Lending Club’s loan volume is now almost 13 times greater than Prosper, the largest difference between them yet.

How much is the rate discrepancy impacting Prosper’s ability to keep up with Lending Club? It can’t be helping.

The Loan Sheet’s Peer Lending Rate Compare shows average APRs from a pool of loans on Prosper and Lending Club. The loan pool consists of borrowers with 36-month term lengths, debt-to-income ratios of 10-20%, and credit scores in the top 20% of the range.