Prosper.com Competitors 2011

[Updated 5/13/2011]

Whether you are interested in using Prosper.com to either lend money or borrow it you may want to understand what other options there are out there.  If you want to read more about my thoughts on Prosper.com go here.  The following is my list of peer-to-peer lending sites.  I am listing this from the point of view of a prospective lender.  I personally have only used Prosper.com and as such I cannot speak to the merits of the other sites listed.

Prosper.com Competitors

  • LendingClub.com – The closet thing to a US-based competitor to Prosper.com.  They have done approximately $240M in loans (about $20M more than Prosper).  What is impressive is that LendingClub has done this in only 4 years (started in 2007), while Prosper has been around since 2006.  This site has a good breakdown of the differences between LendingClub and Prosper.  LendingClub allows larger loans and requires a slightly better credit score.
  • PeerForm – These are the new kids on the block and are still in beta… the beta is “closed” so I am not able to really learn much on what it means to be a lender or “investor” for them.
  • Non-US Based Sites:
  • Kiva – This is like Prosper / LendingClub but focuses on loans to 3rd world nations.  They have funded approximately $204M in loans.  I don’t fully understand the mechanics, but they appear to be a broker that actually manages the relationship with “field offices” that actually manage the loans.  They have metrics on how each field office does.
  • Microplace.com – This is a P2P lending company owned by PayPal.  They are a “competitor” to Kiva and also focus on loans to the poor.  Once nice thing is that their minimum amount invested is $5 less than Kiva.
  • Loanio – This was the 2nd US-based competitor to Prosper.com.  It was launched in late 2008 and now apparently is closing down for a quiet period.  Frankly, I don’t see much here to get excited about.

There is another class of service out there that simply manage direct lending.  I haven’t researched any of these yet.  One of them is LendFriend.me, they basically act as the middle man so that friends or family can lend money.

Cheers,

This posting is provided “AS IS” with no warranties, and confers no rights.

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3 Responses to “Prosper.com Competitors 2011”


  1. Jonathan

    Nice set of links. Is there a specific reason you haven't used LendingClub and stuck with Prosper?

  2. ProVega

    Actually, I _just_ signed up for LendingClub to see what it is all about. I plan to write a post on it after I have a chance to play around with it.

  3. Peer 2 Peer Lending Resources at Below Your Means: Living well by living within and growing your means

    […] The following is my list of P2P Lending Resources. If you are looking for a list of P2P lenders, check out our post here. […]