Just two months after launch, Pertuity Direct's mutual-fund P2P lending platform now has $500,000 to lend from members. Pertuity's statistics show that 70% of members on it's web site are taking the next step and opening an account. That is an excellent adoption rate for an online technology.
Pertuity Direct continues to focus on prime borrowers with an average FICO score of 740. The average loan is $9,800. CEO Kim Muhota credits PD's success with the tightening of the consumer credit markets, particularly in credit cards according to a company press release issued today.
I asked Pertuity Direct what the average investor puts into the fund but they're not releasing that info right now, but will be in the near future, so they'll let me know later on.
Our previous coverage of Pertuity Direct:
March 2009: CEO Kim Muhota posts a video explaining the PD lending model
February 2009: Jessica's interview with CEO Kim Muhota - Social lending meets mutual funds
January 23, 2009: Pertuity Direct removes beta label; launches officially
January 2009: Jessica's Pertuity Direct Review
December 2008: Pertuity Direct to launch 'immediately after the New Year'
Jessica Ward is a mommy, freelance writer and blogger. She also blogs on raising a frugal family at http://www.pennywisefamily.blogspot.com/ and on frugal cooking at http://www.3rdworldfood.blogspot.com/.