Prosper’s average loan size rises in January
US peer-to-peer lending platform Prosper saw its average loan size rise by $985 (£817) in January to $14,605, equating to a 7.2 per cent increase month-on-month.
This was in contrast to the previous month, when the average loan size fell by 1.7 per cent to $13,619.
According to the lender’s latest performance update, AA-B rated loan originations in January comprised approximately 58.3 per cent of total loan originations, representing a 0.2 per cent decline month-over-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 26.9 per cent. C rated loans accounted for 17.8 per cent, D for 12.6 per cent and E for 10.7 per cent. Just 0.7 per cent were rated HR.
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The weighted average borrower rate for January originations remained steady at 16.1 per cent and the median prosper loan to income monthly payment ratio for January increased slightly month-over-month by 0.2 per cent to 5.5 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.