interesting. I guess it wouldn't surprise me if Lending Club was using an investment fund in the interim to do small business loans instead of their peer base. Otherwise, people would've been talking about it a lot more.

On that note though, I had an affiliate relationship with Lending Club and Prosper for a short while and I talked to some people that worked at both. One of them basically told me that they have a select group of major syndicate partners that take all the deals they want within a day or two of the application coming in and that all of the rest are posted on to the site for individuals to invest on their own. They didn't get too specific but what I got from it was that the best deals were cherry picked out and the rest actually went on the site for regular joes and investors to buy into.

Where did you hear about the investment fund thing? From something you read or something you heard? Be interested to learn some more stuff about this.