Tagged: loans

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

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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

Singapore Fintech, the Institutional Lending Exchange (iLex), Secures Seed Funding, Signs MoU with IHS Markit

Singapore-based Institutional Lending Exchange (iLex), a Fintech firm focused on developing a multilateral digital or e-market platform that will support the deal flow and liquidity opportunities for loan market participants, has reportedly finalized its seed funding round. The amount raised has not been disclosed. Investors… Read More

Lendio to Partner With Financial Institutions to Power Paycheck Protection Program Loan Forgiveness Application Process

Online lending platform Lendio announced on Friday it will partner with financial institutions across the U.S. to power the forgiveness application process for Paycheck Protection Program (PPP) loans.  As previously reported, the PPP is part of the $2 trillion CARES Act signed on March 27,… Read More

U.S. Fintech MPOWER Financing Secures $9 Million Through Investment Round For Educational Loans Program

MPOWER Financing, a U.S.-based fintech platform for educational loans to international and DACA students, announced on Tuesday it secured $9 million through its latest investment round. Founded in 2014, MPOWER Financing uses cross-border digital lending platform, big data, and global infrastructure to finance the millions… Read More

Cross River Approves More Than $4.7 Billion in Loans to Small Businesses Across the U.S. Through Both Rounds of the Paycheck Protection Program

Cross River, a bank that delivers advanced financial and compliance products/services to the fintech industry, announced on Tuesday it has approved more than $4.7 billion in loans to small businesses across the U.S. through both rounds of the Small Business Administration’s (SBA) Paycheck Protection Program… Read More

Update: EstateGuru Set to Close Seedrs Round With More Than €880,000 in Funding

  Pan-European marketplace for short-term SME property-backed loans EstateGuru is set to close its equity crowdfunding campaign on Seedrs with more than €880,000 raised from nearly 1,100 Seedrs investors. Founded in 2013, EstateGuru claims to be the leading European marketplace for short-term, property-backed loans. The… Read More

Biz2Credit’s Latest Small Business Lending Index Observes: Small Business Loan Approval Drops to Record Lows in April 2020

Small business funding platform Biz2Credit announced on Tuesday its latest Small Business Lending Index reveals that the approval percentage for small business loan applications at big banks ($10 billion+ in assets) plummeted below double digits to just 8.9%, down from 15.4% in March and an… Read More

Fintech Firm GoBear Acquires AsiaKredit, a Singapore-based Online Lending Platform

Fintech firm GoBear, which offers a financial products comparison website, confirmed on May 4, 2020, that it has acquired AsiaKredit, a Singapore-based digital lender. The amount paid for the acquisition has not been shared publicly. GoBear’s acquisition has come after the Fintech company secured $80… Read More

Lendio Joins Forces With Mindbody to Expedite COVID-19 Relief Funding to Small Business Customers

Online lending platform Lendio announced on Tuesday it has joined forces with wellness industry technology platform, Mindbody, to expedite relief funding through the Paycheck Protection Program (PPP) to small businesses that are struggling during the COVID-19 pandemic. According to Lendio, Mindbody’s software solution links hundreds… Read More

Indian Fintech Aye Finance Secures $23.8 Million in Debt Funding within 15 Days from Major Local and International Investors

Capital G-backed Aye Finance, a leading Fintech lender, has reportedly secured INR 180 crore (appr. $23.8 million) in debt funding in the past 15 days from several major firms in India and investors located abroad. Aye’s management noted that it managed to acquire these funds… Read More

RateSetter Completes Two Sales Of Non-Performing Loans With Combined Proceeds of £4.65 Million Added Into the Provision Fund

UK-based peer-to-peer lender RateSetter announced on Tuesday it completed two sales of non-performing loans, with the combined proceeds of £4.65m added into the Provision Fund. According to RateSetter, the debt sale process started in December 2019 and the lender was not needing to reduce its… Read More

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