Table 4.

Difference in means (pre COVID-19 & post COVID-19)

Variable	Pre-COVID-19	Post-COVID-19	Two tailed t-test
ECF Amounts Raised	$ 1,689,388	$4,061,780	***
ECF Amounts Raised SD	1,358,777	2,043,307	***
P2P Loan Amounts	$ 55,507,780	$ 24,041,260	***
P2P Loan Amounts SD	16,764,580	8,667,166	***
Net Consumer Loans (in thousands)	$ 1,528,932	$ (3,103,117)	***
Net Consumer Loans SD	2,333,153	6,584,968	***
NASDAQ Returns	0.38%	0.48%
NASDAQ Returns SD	2.02	5.51	***
Number of Weeks	192	24

This table presents the two-tailed t-test, which is applied to compare means between pre- and post-COVID-19 for the period 12/05/2016 to 30/06/2020. The difference in means was calculated using weekly data for ECF Amounts Raised, P2P Loan Amounts (amounts raised on Prosper.com), Net Consumer Loans (the difference between the current and the previous week’s Consumer Loan balances), and NASDAQ Returns (weekly NASDAQ returns). This test is also applied to compare variables’ volatility as gauged by its standard deviation

*p < 0.10, **p < 0.05, ***p < 0.01