Tagged: lending

Biz2Credit Reports: Small Biz Loan Approval Rates at Big Banks and Institutional Lenders Continued to Surge in October

Rohit Arora

On Thursday, Biz2Credit announced its recent Small Business Lending Index report revealed that loan approval rates at big banks and institutional lenders improved to all-time highs in October 2016. The report stated that small business loan approval rates at big banks improved to 23.5% during… Read More

Brief: i2B Closes $4M Asset-Based Revolving Line of Credit+ with CFG Merchant Solutions

larry-l-curran-ii

i2B Capital, a direct financing provider to niche-market financial entrepreneurs, is pleased to announce the closing of a $4 million asset-based revolving line of credit with an accordion to $6 million with CFG Merchant Solutions, a privately owned and operated specialty finance company focused on… Read More

PwC Studies German Risk Management, Utilizes Auxmoney to Determine Private Lending Market Potential

Fintech Germany

Credit marketplaces such as auxmoney ensure that up to 4.3 million more people get access to credit, as would be the case via conventional lenders like banks, according to a recent PricewaterhouseCoopers study. PwC investigated the effects of new forms of risk assessment with its complementary, digital… Read More

Marcus, Goldman Sachs’ Online Lender, Launches to Provide Affordable Consumer Loans

marcus

Goldman Sachs’  long-anticipated online lending platform labeled Marcus has launched for users who received a special code by mail.  The Fintech platform is poised to challenge established marketplace lending platforms such as Prosper and Lending Club by offering consumers a chance to refinance onerous credit… Read More

Ken DeGiglio Joins EquiLend Holdings as its First CIO

i love fintech

Ken DeGiglio has joined the securities lending platform EquiLend Holdings LLC as its first CIO, according to a release. Effective immediately, DeGiglio is responsible for aligning EquiLend’s technology vision with business strategy and integrating company processes with the appropriate technologies. He is also responsible for all aspects… Read More

Beyond Bank Snags A$1.5M SocietyOne Equity, Moves into Fintech

wayne-matters

Beyond Bank Australia has announced its equity stake in SocietyOne, reported Australian Broker, having acquired A$1.5 million worth of shares in marketplace lender, as well as agreeing to increase its funding arrangement to A$10M. Earlier this year, SocietyOne raised A$25M capital from traditional financial firms G&C Mutual Bank and the Maritime, Mining… Read More

Financeit Taps Capital One Canada for New CFO, Ian Hanning

ian-hanning

Financeit, a provider of home improvement financing solutions, has tapped Capital One Canada’s Ian Hanning as its new CFO to help lead the platform into its next stage of maturity, expanding its market share in the point-of-sale financing industry. “Fintech is still in its infancy stage in Canada but it… Read More

Lender AvantCredit Receives Full Authorization from FCA: Full Speed Ahead

raj-singh

AvantCredit has received full authorization by the Financial Conduct Authority (FCA) which covers all credit and lending operations and includes permissions for credit broking, debt collection and debt administration, according to a release. Since launching in the UK in October 2013, AvantCredit has issued more than 70,000… Read More

LendKey Releases New Report: “Positive Signal for Private Student Loans”

Keys Security

LendKey, a fintech company which provides institutional investors, banks, credit unions, affiliates, and borrowers with “access, efficiency, and speed” within the lending ecosystem, today released an inaugural industry-specific report entitled Positive Signal for Private Student Loans. In April the New York and Cincinnati based platform surpassed the billion-dollar mark in… Read More

Moody’s Analytics Debuts MARQ Portal For Small Businesses

small-business-saturday

Moody’s Analytics, a subsidiary of Moody’s Corporation (NYSE:MCO), announced on Monday the launch of its new MARQ Portal. This tool automates the exchange of financial information between borrowers and lenders. It also generates the MARQ small business credit score. Moody’s Analytics revealed that small Business… Read More

Brief: Y Combinator Continuity Leads LendUp’s Latest Round to Grow L Card

Sasha Orloff

LendUp has secured a $47.5M round to grow its L Card, a credit card touting no hidden fees and a flexible payback schedule;  the round was led by Y Combinator Continuity and joined by GV (Google Ventures rebranded), Thomvest Ventures, QED Investors, Data Collective, Susa Ventures, Radicle… Read More

Brief: loanDepot Closes $150M Capital Transaction

Anthony Hsieh loandepot

Last week, loanDepot announced the closing of its $150 million capital transaction. The online lender revealed it plans to use the funds to continue investments in technology and product development. Sharing details about the transaction, Anthony Hsieh, chairman and CEO at loanDepot, stated: “Capital investment in consumer lending and in the mortgage industry… Read More

Zopa Teams Up With Sphonic to Detect Real-Time Fraud

Jaidev Janardana

On Monday, peer-to-peer lending platform, Zopa, announced it has teamed up with risk management business, Sphonic, to launch the Workflow Manager (WFM) solution for real-time fraud detection. Zopa reported that WFM’s software acts as a context-broker that leverages data points from over 50 of the… Read More

Biz2Credit Reports: Loan Approval Rates at Banks Improve, While Alternative Lenders’ Percentages Drop Significantly in April 2016

Rohit Arora

On Tuesday, online resource for small business finance, Biz2Credit announced its recent reported revealed that loan approval rates at banks improved while alternative lenders’ percentage dropped significantly last month. The website confirmed that big banks ($10 billion+ in assets) approved 23.1% of loan applications in… Read More

Lendio Reveals Top 10 Best States for Small Business Lending (Infographic)

Brock Blake

Lendio, an online service that helps business owners find small business loans, announced on Friday its top 10 best states for small business lending. This list was created in celebration of National Small Business Week and is based on lending data from the platform, which… Read More

Overfunding on Crowdcube: WiseAlpha CEO Ahmad Discusses Growth and Fintech Disruption

Rezaah Ahmad

wiseAlpha, an online platform that allows people to invest in secured corporate loans of blue-chip British brand name companies such as Virgin Media, RAC, United Biscuits and Eddie Stobart, aims to give people the opportunity to earn a higher rate of interest and diversify their… Read More

Knecht Gives Funding Circle Update; Mullane Joins Business Development Team from Barclays

Matthias Knecht

Neil Mullane has joined Funding Circle’s business development team after heading Barclay’s  business and corporate banking, supporting small businesses with a £250,000 to £25 million turnover. Mullane brings eight years of experience in commercial finance, and will play an active role in continuing to build the intermediary channel. “It’s an… Read More

LendFoundry Presents Fintech Lending Operating System at LendIt 2016

manoj_mathew

On Monday, LendFoundry presented its very own fintech lending operating system at LendIt 2016, which was held in San Francisco. The company reportedly provides end-to-end lending solution that simplifies loan origination, marketing, acquisition, underwriting, servicing and beyond. Sharing details about the company’s system, Timothy Li, co-founder and… Read More

Torrie Inouye Appointed New National Funding President

Torrie Inouye

National Funding, a large private lenders of small business loans, today announced that Torrie Inouye has been named the company’s president. Inouye will report directly to Founder and CEO Dave Gilbert. “Torrie has played a critical role in our success to date, and her appointment as… Read More

Brief: CAN Capital Hits $6 Billion Milestone

dan-demeo-ceo-can-capital

CAN Capital, a market share leader in alternative small business finance, announced on Thursday that it has reached the milestone of providing small businesses with access to more than $6 billion.  CAN Capital revealed that it has helped facilitate over 170,000 small business. In the past five… Read More