Prosper Marketplace

Online lenders seek to balance the needs of borrowers, investors

03/26/20

While LendingClub, Prosper, Avant and SoFi are giving existing borrowers breaks in the short term, they're considering tightening credit as the coronavirus outbreak threatens to drag the economy into a recession.

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Fintech lenders tighten standards, become more like banks

12/16/19

Easy credit has given way to cautiousness, with financial technology upstarts now seeking households with higher incomes, above-average credit scores and less debt relative to their wages.

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BBVA, Prosper partner on digital home equity lines of credit

11/04/19

Prosper hopes to do for lines of credit what it did for unsecured personal loans, while BBVA hopes to provide a better experience for customers.

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Online lender Marlette reports profit, then takes jabs at the competition

02/01/19

As the consumer lender announced its seventh consecutive profitable quarter, its CEO bragged that his company is better positioned than the likes of Goldman Sachs and LendingClub.

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Prosper branches out, shifts strategy as it launches second product

11/14/18

The online lender will roll out its first new product in 12 years, a home equity line of credit. But it's taking a different approach than with its original offering.

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Personal loans surge to a record high

07/03/18

LendingClub, Prosper, SoFi and other fintechs are driving the expansion, according to new data from TransUnion.

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Online lenders tighten rules as default wave rattles investors

05/30/18

It's gotten a lot harder to borrow money from the raft of fintech firms looking to bring online lending into the mainstream.

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Prosper's earnings suffer from cost of deal that bolstered funding

03/26/18

The San Francisco-based online lender reported a net loss of $115 million for 2017, more than half of which was connected to warrants issued in a deal that stabilized the struggling firm.

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Not-so-friendly competition: Discover CEO bashes online lenders

01/25/18

David Nelms said that many digital lenders do not understand how to underwrite personal loans properly, and he took a dig at their lack of profitability. The upstarts say their industry's ability to attract capital speaks for itself.

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House panel approval of rate-cap workaround a win for online lenders

11/15/17

A bill that would ensure fintechs can continue to partner with banks to make loans at interest rates that exceed state caps drew some bipartisan support on Wednesday, despite opposition by consumer groups.

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