Prosper’s average loan size dips in February
US peer-to-peer lending giant Prosper saw the size of its average loan fall by $342 (£280) in February to $14,263, representing a 2.3 per cent decrease month-on-month.
In an update on its website, the firm said AA-B rated loan originations comprised around 60.7 per cent of total loan originations, representing a 2.3 per cent increase month-on-month. C rated loans represented 15.2 per cent of originations; category D loans 12.1 per cent; E rated loans 11.3 per cent; and HR just 0.7 per cent.
Read more: Prosper’s average loan size rises in January
Prosper loans are assigned a rating from AA (lower risk, lower return) to HR (higher risk, higher return).
It also said the weighted average borrower interest rate for February originations remained steady month-on-month at 16.1 per cent.
Read more: Prosper’s average loan size fell in December
And the median Prosper loan to income monthly payment ratio for February remained stable month-on-month at 5.4 per cent.
The company said: “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.”
Read more: Prosper raises $75m in growth capital