Prosper: $200M In Loans

San Francisco-based peer-to-peer lending site said today that it now has over 34,000 loans, totaling $202 million in its marketplace, and has calculated lender annual expected returns at around 10 percent. The firm said that its borrower rate on all funded loans from the site in the last twelve months was 17.86 percent, with an expected loss of 6.43 percent, giving an expected annual return of 10.43 percent to its lenders. The firm said loan volumes were $21.2M for the period between July 2009 and June of 2010. Prosper was co-founded by Chris Larsen, co-founder of E-LOAN, and is backed by Jim Breyer of Accel Partners; Bob Kagle of Benchmark Capital; CompuCredit; Omidyar Network; Capital One Co-founder Nigel Morris of QED Investors; Court Coursey of TomorrowVentures; and Larry Cheng of Volition Capital.


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