Prosper’s average loan size increases in November
US peer-to-peer lending platform Prosper saw its average loan size rise by 3.9 per cent in November to $13,853 (£11,389).
This was a smaller increase compared to October, which saw a 5.5 per cent jump month-on-month to $13,335.
According to the lender’s latest performance update, AA-B rated loan originations comprised approximately 63.5 per cent of total loan originations in November, which was stable from the previous month.
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Prosper loans are assigned a rating from AA (lower risk, lower return) to HR (higher risk, higher return).
B rated loans took the greatest proportion of originations at 25.6 per cent. C rated loans accounted for 12.1 per cent, D for 10.5 per cent and E for 12.9 per cent. Just 1.1 per cent were rated HR.
Weighted average borrower rate for November originations increased by 0.23 per cent month-on-month to 14.9 per cent and the median loan to income monthly payment ratio for November remained unchanged month-on month at 5.31 per cent.
Read more: Prosper sees average loan size fall by two per cent
The update also includes a breakdown of cumulative gross loss per origination dollar, delinquency per origination trend, remaining balance by vintage and cumulative prepayments by vintage, dating back to 2013.
“The Prosper performance updates are designed to help our investor community better understand performance trends and provide important insights into the trends we are seeing and the information needed to invest through the Prosper platform,” the update said.
Last month, Prosper raised $75m (£62.9m) from a fund managed by Neuberger Berman. It said the new capital would enable it to meet strong consumer demand for its personal loan, credit card, home equity and investment products, and accelerate growth opportunities over the coming years.