Prosper & Peer-to-Peer Lending Gaining Momentum

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Peer to Peer lending service Prosper released its Market Survey statistics for December and the full year 2010. If you're looking for some seed money to start a new business or some funding to fuel additional growth Prosper is certainly one way to go.

According to the company, the amount of loans originating on Prosper continued to grow this year, particularly in the latter half of the year. To close out 2010, the dollar amount of loans originated on Prosper in December jumped 22%, resulting from a 12% jump in the number of loans originated during the month and higher average loan amounts, particularly among borrowers with better Prosper ratings.

Peer-to-peer lending has a lot of momentum going into 2011, due in part to the fact that people are much more careful with their money,” said Chris Larsen, CEO and co-founder of Prosper. “Serious investors increasingly see P2P loans as an important asset class, both for the returns P2P loans are delivering and for the social benefits, while borrowers are much more informed and are being smarter about debt, choosing P2P loans to get more affordable interest rates. In the coming year Prosper will continue to look for ways to improve the experience and expand its offerings to help community members make the most of their money.

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