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SoLo Funds operates a community peer-to-peer lending platform, founded in 2018. [1] The company announced 1 million registered users as of 2023, making it reportedly the largest black-owned financial technology company in the United States.
In 2013, LendingClub was the largest peer-to-peer lender in US based upon issued loan volume and revenue, followed by Prosper. [32] [33] LendingClub was also the largest peer-to-peer lending platform worldwide. [42] The interest rates ranged from 5.6 to 35.8%, depending on the loan term and borrower rating. [43]
At its height, LendingClub was the world's largest peer-to-peer lending platform. [7] The company reported that $15.98 billion in loans had been originated through its platform up to December 31, 2015. [8] LendingClub enabled borrowers to create unsecured personal loans between $1,000 and $40,000. The standard loan period was three years.
If you've been looking for investment options for your money, you've likely encountered P2P platforms at some point. With reports that the peer-to-peer lending market could hit over $21 billion by...
For borrowers who are looking for a personal loan, but don't qualify for the best rates at their local bank, peer-to-peer lending might be a good solution. Recently Lending Club expanded its ...
Peer-to-peer lenders, Prosper and Lending Club, are building a new marketplace for borrowers and investors. In this segment of The Motley Fool's financials-focused show, Where the Money Is ...