I received a promotional email from GlobeFunder today. What amazes me is that they seem to be targeting hedge fund qualified investors, but the email says that they have only originated $100,000 loans since January 1st, 2008. That is a slow start in volume and one that is not likely to entice many major institutions to invest. It is not worth the paperwork to invest such small sums from a large portfolio — it simply will not move the ROI needle. Dwarfing that number Prosper has pushed out $117 million in loan volume. The same article mentions that January 2008 alone was $7.2 million in loans.

Edit 11/28/2008 : See the comments following this article in the comments by the Globfunder CEO.

Here is the text of the GlobeFunder email:

When the media is absorbed in (some would say paralyzed by) the global credit crisis and market downturn, it’s hard to bring attention to a global event closer to home: GlobeFunder is shaking-up the traditional lending world. But we’re being noticed by the likes of Forbes and others Read the rest of this entry »