Lend Academy Network Forum

General Category => General P2P Lending Discussion => Topic started by: DiligentiaLLC on June 18, 2012, 09:23:49 AM

Title: $50k limit for loans?
Post by: DiligentiaLLC on June 18, 2012, 09:23:49 AM
I noticed most banks offer unsecured loans and lines-of-credit up to $50k.  Why doesn't Lending Club or Prosper off a loan up to this amount? I wonder if they will in the future?  Anybody heard anything on this topic?
Title: Re: $50k limit for loans?
Post by: Peter on June 19, 2012, 07:00:23 AM
I noticed most banks offer unsecured loans and lines-of-credit up to $50k.  Why doesn't Lending Club or Prosper off a loan up to this amount? I wonder if they will in the future?  Anybody heard anything on this topic?

I think this is probably the number that LC and Prosper would like to get to and Lending Club may get there. They have little trouble funding the $35K loans so $50K would be a logical next step. But I wouldn't hold your breath because they need to establish the track record of these $35K loans that have only been around 18 months or so.

At Prosper they still only allow $25K and that is just for the best borrowers. I don't see them moving to $50K for a very long time.
Title: Re: $50k limit for loans?
Post by: jwilliams on January 13, 2013, 07:35:16 PM
Can I reply Peter?