Hong Kong-based digital banking challenger ZA Bank has revealed that it’s providing a financing guarantee facility of as much as HKD 18 million (appr. $2.32 million). The plan is referred to as the “ZME $18M Loan.” The new product is described as a business revolving… Read More
Peer-to-peer lending marketplace Mintos revealed, earlier this week, that the lending firm E-Cash has informed them of its intentions to “wind down” the business. The Mintos team noted that E-Cash is currently in the process of “working out the details” of how it plans to… Read More
UK-based Fintech company Fintern has secured £32 million in funding in order to expand access to affordable loans in the United Kingdom. On the back of their official launch last month, the London-headquartered startup has confirmed that it raised £32 million in equity and debt… Read More
U.S.-based money experience company MX announced on Tuesday it has partnered with digital asset verification platform FormFree to speed up loan approval processing and close more than one million loans. According to MX, FormFree improves lenders’ ability to make more informed decisions about borrowers… Read More
SoFi, one of the most successful fintechs in the U.S., announced on Tuesday it has launched auto loan refinancing through its financial services product comparison platform, Lantern. SoFi reported it launched auto loan refinancing through its partnership with MotoRefi, an auto fintech startup on a… Read More
Virgin Money announced on Tuesday it is launching sustainability-linked loans (SLL) for all UK companies. According to Virgin Money, the SLLs will reduce the cost of finance for those businesses whose core activities proactively help the economy transition to a more sustainable model. Virgin Money… Read More
PowerPay, a provider of home improvement financing, recently announced it has surpassed $1 billion in loan originations following its launch in December 2019. The company reported that through its network of 7,000 home improvement contractors, it has financed more than 50,000 projects nationwide with an average project… Read More
TransUnion (NYSE: TRU) confirmed that consumer credit activity keeps rising from the COVID-19 pandemic lows, but some areas like automobile loans (subprime) performance have lagged. As noted in an update published on February 18, 2021, by TransUnion, the company’s Q4 2020 Industry Insights report looks… Read More
OnDeck notes that the Small Business Administration (SBA) and US Treasury Department have resumed the Paycheck Protection Program (PPP) for First Draw Loans (on the week of January 11, 2021, and on January 13, 2021). OnDeck, which was acquired by Enova (NYSE:ENVA) last year, has… Read More
We recently connected with Yann Murciano, CEO at online peer to peer lender Blend Network, who had previously explained in an interview with CI last year that we’re witnessing the “democratization of property investing” in the 21st century. As covered in December 2020, the Blend… Read More
RateSetter, a leading UK based peer to peer lender, announced on Tuesday that Metro Bank is purchasing its loan portfolio in line. RateSetter reported that Metro Bank has been funding all-new consumer lending following the RateSetter acquisition, which took place in September 2020. “Today’s announcement… Read More
BBVA announced on Wednesday it has signed the sale of a portfolio consisting of loans and real estate assets from Unnim for a gross total of approximately €700 million. BBVA reported it closed an agreement with global investment fund company KKR (primarily through its KKR… Read More
Small Business Administration (SBA) lender Fountainhead recently announced it has signed a new deal to license Bix2X SBA platform for Paycheck Protection Program loans, as well as other SBA programs. Founded in 2015, Fountainhead describes itself as a nationwide direct lender specializing in SBA 504,… Read More
Biz2Credit announced on Tuesday its latest Small Business Lending Index reported small business loan approval percentages at big banks ($10 billion+ in assets) dropped slightly from 13.2% in November to 13.1% in December, an indication that the challenges for small business owners in need of… Read More
Artis Technologies, a U.S.-based fintech that provides lending solutions for businesses, announced on Tuesday it has entered into a new bank funding partnership with Drummond Community Bank for its Artis Credit platform. According to Artis, the funding will fulfill consumer loans originating through the company’s… Read More
Online lending platform Lendio announced on Tuesday it has relaunched its online application for small business owners to access the government funds that are set aside for additional Paycheck Protection Program (PPP) loans. As previously reported, the PPP is part of the $2 trillion… Read More
BBVA announced on Thursday it has teamed up with Telefónica to develop a consumer loan business, Movistar Money, in Columbia. The duo noted that Movistar Money will sell loans to more than 19 million Telefónica clients located in the country. “The new company will benefit… Read More
Small business funding platform Biz2Credit announced on Tuesday its latest lending index revealed that small business loan approval percentages at big banks ($10 billion+ in assets) dropped slightly from 13.5% in September to 13.3% in October. Biz2Credit reported that during the month of October small… Read More
We recently connected with Roxana Mohammadian-Molina, the Chief Strategy Officer at Blend Network, an online peer to peer (P2P) property lending platform. Roxana talked about how the UK real estate market is performing. She also discussed how her company has managed to maintain operations during… Read More
PayPal announced on Wednesday the launch of PayPal Pay in 3, which will enable UK businesses of all sizes to offer buy now, pay later payments without taking on additional risk, or paying additional fees. PayPal reported through PayPal Pay in 3, businesses can offer… Read More
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