In the UK Zopa expects a record month of new p2p loans funded. CEO Giles Andrews told P2P-Banking.com today: “We are going through some dramatic growth at the moment. July was a record month with 908 loans for 4.5 million GBP, but we should do 1100 for 5.5 million GBP in August.”
loan volume
Gartner: P2P lending will be 5 billion US$ in 2013
Gartner forecasts p2p lending volume to read 5 billion US$ outstanding loan volume in 2013.
Consumers who lose their jobs can’t get loans to cover periods of unemployment; businesses that encounter trouble due to low demand can’t get credit lines to see them through to recovery. Furthermore, banks are more interested in recapitalising than in lending. Growth in P2P lending will be driven by investors seeking higher returns and borrowers shunning (or being shunned by) banks. Gartner recommends that financial services providers investigate how to partner and collaborate in adding P2P to their existing offerings rather than building their own P2P lending networks.
An earlier forecast of Gartner from Feb. 2008 overestimated the impact that p2p lending will have on bank lending in 2010 – at least in my view – but 2010 is not over yet.
Kiva Loans Surpass 100,000,000 USD
Congratulations to Kiva. They have tackled another impressive milestone: more then 100 million US$ total loans funded since inception. And the growth curve is pointing straight upwards. 60 million US$ were funded in the last 12 months.
Quoting today’s numbers from Kiva’s statistics page:
| Total value of all loans made through Kiva: | $100,223,910 |
| Number of Kiva Lenders: | 585,070 |
| Number of countries represented by Kiva Lenders: | 185 |
| Number of entrepreneurs that have received a loan through Kiva: | 249,619 |
| Number of loans that have been funded through Kiva: | 142,801 |
| Percentage of Kiva loans which have been made to women entrepreneurs: | 82.72% |
| Number of Kiva Field Partners (microfinance institutions Kiva partners with): | 106 |
| Number of countries Kiva Field Partners are located in: | 49 |
| Current repayment rate (all partners): | 97.88% |
| Average loan size (This is the average amount loaned to an individual Kiva Entrepreneur. Some loans – group loans – are divided between a group of borrowers.): | $404.87 |
| Average total amount loaned per Kiva Lender (includes reloaned funds): | $171.34 |
| Average number of loans per Kiva Lender: | 4.91 |
Will Kiva run out of goals now? Definitly not:
But we believe this is only the beginning . . .
Kiva is about dreaming big. The entrepreneurs on the website dream about big business; our Field Partners dream about financially including all of the poor; Kiva Lenders dream about ending poverty.
Kiva was a big dream before the idea of lending to someone on the other side of the world became a reality. Now we have big dreams about making Kiva the world’s hub for alleviating poverty.
This is a quote from a Kiva blogpost from October, which also give the strategic goals for the next 5 years:
- Raise 1,000 million US$ in loans over the internet
- Reach 2 million entrepreneurs around the world
- Realize our own self-sufficiency in the process.
Kiva has my support. Let me know, if I can do anything to win your support for Kiva.
Moneyauction – Booming P2P Lending Service in Korea
Moneyauction, a Korean p2p lending company, says it is “the No. 2 [website] in Korea’s non-bank area, but the number 1 website in the finance area”. And it has impressive figures to prove it. Between June 01th, 2007 and Sep. 15th the loan amount applied was 56.6 million US$.
Moneyauction partnered with telecommunication carrier Korea Telecom and offers a mobile service allowing borrowers to apply for and lenders to bid on loans via their cell phone.
In 3 months Moneyauction plans to launch a secondary market (called ‘Divided bond trading’). A spokesman told P2P-Banking.com that he expects this new feature to boost the transaction volume.
(Source: company management)
P2P Lending Companies Show Strong Growth – Aug. 09
P2P lending services continue to grow. In some markets the speed of growth has even accelerated.
P2P-Banking.com has created the following overview table listing services in operation and ranked them by loan volume funded in the past 6 months.
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Source: P2P-Banking.com
For some service like the Korean Moneyauction and Popfunding no figures were available. Also omitted are some services that did not reply to information requests.
Note that Prosper.com was closed for most of the observed time span and did not make the minimum cutoff for the table. Also note that Zopa Italy is currently closed.
For a table listing more p2p lending companies check previous ‘P2P Lending Companies by Loan Volume – Jan. 09‘.
Especially british Zopa and the German services show strong growth lately. Smava nearly doubled loan volume in July compared to June (chart), whereas Auxmoney tripled it (chart). At Smava currently even 25,000 Euro loans (approx. 35,750 US$) are funded with bids in only 4 minutes (!) bidding time (example loan).
On the other hand MYC4‘s growth slowed in the last months (chart) due to problems with the providers loan picks.
Smava Funds More Than 1M Euro Loans in June
P2p lending site Smava.de for the first time reached more than 1 million Euro (approx. 1.4 million US$) loan volume funded in one month. One factor contributing to this is that Smava is in the top 10 rankings for German Google search results for the keywords kredit (engl. loan) and kredite (engl. loans) since the end of May. I find it interesting that there is not one single bank site in the top ten for these search results.
Furthermore Smava profited form TV exposure, which also helped its competitor Auxmoney to achieve a record month with approx. 130,000 Euro loan volume.
In international comparison by p2p lending loan volume funded per month, Smava is in the top 5 behind Virgin Money, Kiva, Zopa UK and Lending Club.
(Source: Smava p2p lending stats; A-H are credit grades)