Tagged: loans

TransUnion Report Confirms that Credit Activity Keeps Rising from COVID-19 Pandemic Lows, Origination Activity Recovering

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 Explains how Small Businesses in the US May Apply for First or Second Draw PPP Loans Now through March 31, 2021

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

Yann Murciano: CEO at P2P Property Lender Blend Network Reveals how Company Managed to Grow Operations even During COVID-19 Crisis

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 Sells Loan Portfolio to Metro Bank

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 Signs Sale of a Portfolio Consisted of Loans & Real Estate Assets From Unnim For Approximately €700 Million

  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

Fountainhead Signs Deal to License Biz2X SBA Platform for Paycheck Protection Program Loans & Other SBA Programs

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’s Latest Small Business Lending Index Reports Loan Approval Rates at Banks Declined in December 2020, Are Down More Than 50% from One Year Ago

  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

U.S. Fintech Artis Announces New Bank Funding Partneship With Drummond Community Bank

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

Lendio Announces Relaunch Paycheck Protection Program Loan Application For Small Businesses

  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 Teams Up With Telefónica to Offer Consumer Loans in Columbia

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

Biz2Credit Small Business’ Latest Lending Index Reveals: Small Business Loan Approval Rates at Banks Declined in October 2020

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

Roxana Mohammadian-Molina: CSO at Online P2P Lender Blend Network Explains how Platform Is Democraticizing Property Lending

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 Debuts “Pay in 3” Buy Now, Pay Later Loans to the UK

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

US Online Lending Sector May Have Performed Better than Expected, with Many Borrowers Making Timely Repayments

The online or digital lending sector has been criticized for its inability to scale effectively or to be able to endure challenging environments like those created due to COVID-19. However, it now appears that overall credit quality, through online lenders, has performed better than some… Read More

Biz2Credit’s Latest Small Business Lending Index Reveals: Small Business Loan Approval Rates at Banks Fell in August 2020

Small business funding platform Biz2Credit announced on Tuesday its latest Small Business Lending Index has been released and revealed small business loan approval percentages at big banks ($10 billion+ in assets) and small banks dropped slightly in August 2020, an indication that the upward trend… Read More

Dutch Fintech Ohpen Announces Acquisition of Cross-Border Loan & Mortgage SaaS Provider Davinci

Ohpen, an Amsterdam-based fintech, announced on Tuesday it has acquired cross-border loan and mortgage Software-as-a-Service (SaaS) provider, Davinci. Ohpen reported that the acquisition will allow it to address the $300 billion global bank IT spending market as it targets international expansion. “This acquisition is a testament… Read More

Loanpal Joins Forces With Blackston to Deploy $300 Million of Residential Solar Loans

  Loanpal, a U.S.-based residential solar financing provider, announced on Thursday it has joined forces with Blackstone (NYSE: BX), through funds managed or advised by GSO Capital Partners, to invest in up to $300 million of residential solar loans originated and serviced on the Loanpal… Read More

Biz2Credit’s Latest Small Business Lending Index: Small Business Loan Approval Rates at Banks Increased in July 2020

Photo courtest velkr0 on Flickr: http://www.flickr.com/photos/velkr0/

Small business funding platform Biz2Credit announced on Tuesday its latest Small Business Lending Index has been released and revealed that the approval percentage for small business loan applications at big banks, which are more than $10 billion in assets increased three-tenths of a percent from… Read More

Celsius Network Announces Offering of Loans Against 26 Different Cryptocurrencies

  Celsius Network, a cryptocurrency lending and borrowing platform, announced on Wednesday the offering of loans against 26 different cryptocurrencies. The platform reported every asset accepted in the Celsius Network wallet will also be approved for loan collateral. Users may now borrow stable coins and… Read More

Biz2Credit’s Latest Small Business Lending Index Reveals: Small Business Loan Approval Rates Rebound in June 2020

  Small business funding platform Biz2Credit announced on Tuesday its latest Biz2Credit Small Business Lending Index revealed the approval percentage for small business loan applications at big banks ($10 billion+ in assets) rebounded from just 11.5% in May to 13.5% in June. According to the Index,… Read More

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