CommonBond, an online lender in the student loan refi sector, has distributed an email claiming the year, so far, has met expectations. Of course, the note was distributed during an unparalleled time of stress for most businesses – including online lenders.
According to CommonBond and CEO David Klein, they are doubling down on their mission:
” as further proof that a socially-minded business can be a strong business, we have exceeded financial expectations so far this year. We continue to focus on our customers – it’s our first company value for a reason – we wouldn’t be here without our customers, and we know that. I believe we’ll all get through this together. And when we do, what I wish for all of us is that we can look back on this period and be proud of the way we responded.”
Klein added that his platform continues to help students navigate their loans and enterprises prepare for tax-free loan contributions – part of the recent CARES Act stimulus package.
Meanwhile, many online lenders have been compelled to pull back as both borrowers and investors have hit the pause button during the COVID-19 pandemic.