Peer Lending in the U.S.
| Platform | Name | Lending Club | Prosper | Upstart | SoFi | Peerform | Funding Circle | Street Shares | Patch of Land | Realty Mogul | RealtyShares | GROUNDFLOOR | PeerStreet | |||
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| Website | www.LendingClub.com | www.Prosper.com | www.Upstart.com | www.SoFi.com | www.Peerform.com | www.FundingCircle.com | www.StreetShares.com | www.PatchOfLand.com | www.RealtyMogul.com | www.RealtyShares.com | www.GROUNDFLOOR.us | www.PeerStreet.com | ||||
| Claim | Solid Returns Since 2008 | Meet your new asset class | Peer-to-Peer Lending on Upstart | Smart investing made easy. | Borrow for today, invest in tomorrow | Invest in American small business | Veteran Business Bonds. Life, liberty, and 5% interest for all. | A SIMPLE, TRANSPARENT INVESTING PROCESS. | Invest in Real Estate with as Little as $5,000 | Simple. Powerful. Real Estate Investing. | PRIVATE LENDING, NOW PUBLIC. EARN AVERAGE RETURNS OF 12%* | PeerStreet is a marketplace that provides unprecedented access to high quality real estate loan investments. | ||||
| Description | Lending Club is a US peer-to-peer lending company, headquartered in San Francisco, California. It was the first peer-to-peer lender to register its offerings as securities with the Securities and Exchange Commission (SEC), and to offer loan trading on a secondary market. | Invest in personal loans. Earn estimated returns of 7.35% on average*. Diversify your portfolio beyond stocks and bonds | Founded by ex-Googlers, Upstart goes beyond the FICO score to finance people based on signals of their potential, including schools attended, area of study, academic performance, and work history. | SoFi is a new kind of finance company taking a radical approach to lending and wealth management. | Founded in 2010 by Wall Street executives with extensive backgrounds in Finance and Technology, the Peerform marketplace lending platform is dedicated to helping dependable borrowers. | Funding Circle is the world’s leading online marketplace for business loans. Using cutting-edge technology, we match established small businesses who want to borrow with investors who want to lend in the US, the UK and Europe. | StreetShares is America’s small business funding community. As a fast-growing financial community of like-minded members, we can offer better rates and returns. | Patch of Land is crowdfunding real estate through its P2RE (peer-to-peer) online marketplace offering various typologies of secured real estate debt on assets backed by first position liens and personal guarantees. | RealtyMogul.com launched in 2013 with one mission: simplify real estate investing by connecting real estate entrepreneurs and investors through cutting-edge technology. | RealtyShares is an online investment platform that brings together investors, borrowers, and sponsors. Accredited or institutional investors can invest in pre-identified commercial real estate investment opportunities with as little as $5,000. | GROUNDFLOOR is the first and only real estate lending marketplace open to non-accredited investors. We open the door to short-term, high-yield returns backed by real estate. | PeerStreet is a marketplace where accredited investors can invest in high-quality private real estate loans. We provide access for accredited investors, funds and institutions to a historically difficult-to-access asset class. | ||||
| Loan Properties | Type | Consumer, Unsecured | Consumer, Unsecured | Education | Consumer, Unsecured | Education | Consumer, Unsecured | Consumer, Unsecured | Small Business | Small Business | Real Estate | Real Estate | Real Estate | Real Estate | Real Estate | |
| Terms | Min | 36 | 36 | 36 | 36 | 60 | 36 | 36 | 12 | 3 | 1 | 12 | 6 | n.c. | 6 | |
| Max | 60 | 60 | 60 | 60 | 240 | 84 | 36 | 60 | 36 | 36 | 24 | 120 | n.c. | 24 | ||
| Avg | n.c. | n.c. | n.c. | n.c. | n.c. | n.c. | 36 | n.c. | n.c. | n.c. | n.c. | n.c. | n.c. | n.c. | ||
| Loan Amount | Min | $1.00K | $2.00K | $1.00K | $1.00K | $5.00K | $5.00K | $1.00K | $25.00K | $2.00K | $100.00K | $500.00K | $100.00K | $20.00K | n.c. | |
| Max | $40.00K | $35.00K | $50.00K | $50.00K | Full balance of student loans/cost of attendance | $100.00K | $25.00K | $500.00K | $100.00K | $10,000.00K | $10,000.00K | n.c. | $500.00K | n.c. | ||
| Avg | n.c. | $13.85K (07/2016) |
n.c. | n.c. | n.c. | n.c. | n.c. | n.c. | n.c. | $480.73K (09/01/2016) |
n.c. | n.c. | n.c. | n.c. | ||
| Interest Rates | Min | 5.32% | 3.00% | 4.00% | 4.00% | 2.22% | n.c. | 6.44% | 5.49% | n.c. | 9.00% | 8.00% | 9.00% | 6.00% | n.c. | |
| Max | 30.99% | 36.00% | 26.78% | 27.32% | 7.75% | n.c. | 26.06% | 21.29% | n.c. | 18.00% | 12.00% | n.c. | 25.80% | n.c. | ||
| Avg | 12.76% (06/2016) |
n.c. | n.c. | n.c. | n.c. | n.c. | n.c. | n.c. | n.c. | n.c. | n.c. | n.c. | n.c. | n.c. | ||
| Issuance | Cumulative | $20,687M (06/30/16) |
$6,061M (2016) |
$400M (2016) |
$400M (2016) |
$11,000M (2016) |
$11,000M (2016) |
n.c. | $2,000M (02/2016) |
n.c. | $183K (09/01/16) |
$220M (08/17/16) |
$100M (12/21/15) |
n.c. | n.c. | |
| Performance | Return | 7.54% (2016) |
7.43% (07/2016) |
n.c. | n.c. | n.c | n.c. | n.c. | n.c. | 5.00% (2016) |
10.90% (09/01/16) |
n.c. | n.c. | 12.00% (2016) |
n.c. | |
| Investing | Access | Retail | Yes | Yes | No | No | No | No | No | No | Yes | No | Yes, through their MogulREIT I product. | No | Yes | No |
| Accredited | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | ||
| Institutional | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | ||
| Foreigners | No | No | No | No | n.c. | n.c. | n.c. | n.c. | Yes | No | n.c. | No | n.c. | No | ||
| Bankruptcy Protection | No | Yes | n.c. | n.c. | n.c. | n.c. | n.c. | n.c. | n.c. | Yes | No | n.c. | No | n.c. | ||
| Servicing Fees | Min | 1.00% | 1.00% | 0.50% | 0.50% | n.c. | n.c. | n.c. | 0.083% | n.c. | 0.00% | n.c. | 1.00% | 0.00% | 0.25% | |
| Max | 1.00% | 1.00% | 0.50% | 0.50% | n.c. | n.c. | n.c. | 0.083% | n.c. | 3.00% | n.c. | 2.00% | 0.00% | 1.00% | ||
| Avg | 1.00% | 1.00% | 0.50% | 0.50% | n.c. | n.c. | n.c. | 0.083% | n.c. | n.c. | n.c. | n.c. | 0.00% | n.c. | ||
- Vanessa Hoying
- 4 Comment
Interesting list. Would SoFi be considered peer to peer? Maybe I’m misunderstanding their site, but it appears while they offer consumer loans; individuals cannot invest in them. Instead, their Investing product appears to invest your money in ETFs.
Any plans for Lending Robot to support any of these other platforms?
Thank you for your feedback!
SoFi would be considered a peer-to-peer as they do have a section in their footer called “Private Placements” where accredited investors are allowed to invest in the loans.
We’re open to supporting other platforms, it is just a matter of regulation and capability of integration.
Nice compilation! Is there a website that can give borrowers an estimated int. rate based upon FICO score without having to go through each sites laborious estimating efforts?
Thank you for your feedback! I do not believe so.