growth. LendingClub expects to close 2013 with loan origination of $2 billion, while Prosper is looking at $350 million, compared with a combined $871 million last year. Last September, Prosper raised $25 million in a round led by its existing VC partner Sequoia Capital and BlackRock. Borrowers can list loan requests of between $2,000 and $35,000 on lending platforms. Retail and
institutional lenders can select from those requests and invest as little as $25 in a part of each loan, called "fractional loans," or invest in "whole loans." P2P lending platforms carry the loans on their books, collect repayments and
pursue defaulters. For those services, lending platforms charge investors annual fees of 1% of the loan amounts. These fees are the "skin in the game" for the platforms, which forgo the fees for unrecovered loans. The platforms also charge borrowers loan origination fees of between 1% and 5% of the loan amount, in addition to the interest rate. The minimum FICO credit score
Dallas Cowboys can add New Jersey Governor Chris Christie to list of fans New Jersey Governor Chris Christie’s popularity rating in the Garden State might hit an all time low today and it has nothing to do with politics. His likability in Texas, however, is now sky high. Christie once again let the world know that his favorite NFL squad is the New York Giants’ NFC East rival Dallas Cowboys. He made the announcement as part of a Q session with students at an elementary school on Tuesday. "My favorite football team is not the New York Giants. It’s not the New York Jets. And it’s not the Philadelphia Eagles. No, get ready now. My favorite football team are the Dallas Cowboys. "When I was your age, I was a big fan of Roger Staubach, who was the quarterback for the Cowboys back then," Christie said, explaining his love for the out of state football team. "And the Giants and the Jets pretty much stunk when I was a kid." Christie’s comments drew a mixed response from the crowd and the Governor decided he wasn’t done coming clean. "Just to finish the politically incorrect answers, if you ask me about hockey, I’m a New York Rangers fan, not a New Jersey Devils fan," Christie continued. "But here’s the problem: You know there were no Devils when I was growing up." There’s no word yet if New Jersey residents are getting ready for a recall election based on Governor Christie’s sports admissions. Super Bowl XLVIII is set for February 2 at MetLife Stadium in Christie’s home state. He’s hit safely in 18 of the. have interest in NBA free agencyWith the start of NBA free agency is right around the corner on July 1 and the rumors surrounding the futures of some of the biggest names in the NBA are starting to swirl. One of those names is.