Peer-to-peer lending has revolutionized the way individuals and small businesses can access funding, bypassing the traditional banking system. As the industry continues to grow, it has led to the emergence of several peer-to-peer lending platforms in the US, offering consumers an alternative source of financing. These platforms connect borrowers with individual investors willing to lend money for a range of purposes, from debt consolidation to small business loans. Here’s a comprehensive overview of the top 10 consumer peer-to-peer lending companies in the US, featuring their sector, year founded, annual revenue, short description, and a direct link to their website.
Sector: Financial Services
Year Founded: 2006
Annual Revenue: $694.33 million (2019)
Description: LendingClub is one of the largest and most well-known peer-to-peer lending platforms, providing personal and business loans. With a seamless online application process, competitive interest rates, and flexible terms, LendingClub has facilitated billions of dollars in loans. The platform also allows investors to diversify their portfolios by investing in a range of loans.
Link: [LendingClub](https://www.lendingclub.com/)
Sector: Financial Services
Year Founded: 2005
Annual Revenue: $130 million (2018)
Description: Prosper is another major player in the peer-to-peer lending industry, offering personal loans for a variety of purposes, including debt consolidation, home improvement, and medical expenses. The platform provides fixed-rate loans with no prepayment penalties, making it an attractive option for borrowers seeking financial flexibility.
Link: [Prosper](https://www.prosper.com/)
Sector: Financial Services
Year Founded: 2012
Annual Revenue: $277.01 million (2019)
Description: Upstart stands out for its use of artificial intelligence and machine learning to assess creditworthiness, allowing for quick loan approvals and competitive rates. The platform focuses on personal loans and student loan refinancing, catering to a wide range of borrowers, including those with limited credit history.
Link: [Upstart](https://www.upstart.com/)
Sector: Financial Services
Year Founded: 2010
Annual Revenue: $272.10 million (2019)
Description: Funding Circle specializes in small business loans, providing entrepreneurs with access to funding to grow their businesses. The platform offers transparent terms and a straightforward application process, making it an appealing option for small business owners looking for alternative financing solutions.
Link: [Funding Circle](https://www.fundingcircle.com/)
Sector: Financial Services
Year Founded: 2013
Annual Revenue: $1.2 million (2019)
Description: StreetShares caters specifically to veteran-owned businesses, offering a range of financing options, including business term loans, lines of credit, and government contract financing. The platform prioritizes serving the veteran community and provides competitive rates and personalized support for its borrowers.
Link: [StreetShares](https://www.streetshares.com/)
Sector: Financial Services
Year Founded: 2010
Annual Revenue: $2.2 million (2019)
Description: Peerform is known for its focus on debt consolidation loans, providing borrowers with a streamlined process to combine high-interest debts into a single, manageable loan. The platform’s risk-based pricing model ensures that borrowers receive personalized rates based on their credit profile, making it an attractive option for individuals seeking debt relief.
Link: [Peerform](https://www.peerform.com/)
Sector: Financial Services
Year Founded: 2012
Annual Revenue: $1.08 billion (2017)
Description: Avant offers personal loans for a wide range of purposes, with a focus on providing access to credit for underserved consumers. The platform leverages technology to streamline the borrowing process and provide rapid funding, catering to individuals who may not qualify for traditional bank loans.
Link: [Avant](https://www.avant.com/)
Sector: Financial Services
Year Founded: 2011
Annual Revenue: $547.28 million (2019)
Description: SoFi has established itself as a prominent player in the peer-to-peer lending space, offering a comprehensive suite of financial products, including personal loans, student loan refinancing, and mortgage loans. The platform emphasizes a holistic approach to financial well-being, providing members with a range of tools and resources to achieve their financial goals.
Link: [SoFi](https://www.sofi.com/)
Sector: Financial Services
Year Founded: 2014
Annual Revenue: $180.7 million (2019)
Description: LendingPoint caters to borrowers with less-than-perfect credit, offering personal loans with flexible terms and customized payment schedules. The platform utilizes data analytics to assess creditworthiness beyond traditional credit scores, providing access to funding for individuals who may face challenges obtaining loans from traditional lenders.
Link: [LendingPoint](https://www.lendingpoint.com/)
Sector: Financial Services
Year Founded: 2010
Annual Revenue: $922 million (2019)
Description: LoanDepot distinguishes itself with a wide range of lending products, including personal loans, home mortgages, and home equity loans. The platform combines a digital lending experience with personalized support from licensed loan officers, making it a versatile choice for individuals seeking various types of financing.
Link: [LoanDepot](https://www.loandepot.com/)
The peer-to-peer lending landscape in the US offers a diverse array of platforms catering to the financing needs of consumers and small businesses. With streamlined application processes, competitive rates, and innovative approaches to credit assessment, these platforms provide viable alternatives to traditional banking institutions, empowering borrowers to access funding that aligns with their financial goals and circumstances.
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