Tagged: loans

December 13, 2016 @ 11:07 am By Samantha Hurst  |  

On Tuesday, fintech firm Even Financial announced it increased loan originations by 205% quarter over quarter since the beginning of 2016. The company reported that, with more than $1.5 billion in loan requests, its platform has grown to serve over one million customers with its… Read More

November 8, 2016 @ 9:42 am By Erin Hobey  |  

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

November 1, 2016 @ 6:24 pm By Samantha Hurst  |  

Marketplace lender Funding Circle reportedly lent out more just a little over £95 million for the month of October and broke the UK’s monthly origination volume record. AltFi revealed that according to its data, Funding Circle has officially lent more than £1.6 billion for over… Read More

October 27, 2016 @ 4:05 pm By Samantha Hurst  |  

Earlier this week, leading marketplace lending platform Prosper announced modifications in its rate pricing. The company stated that the changes were a direct result of a few factors, which includes the forward-looking credit market, interest rate expectation, the U.S. credit environment, and the competitive environment in… Read More

October 11, 2016 @ 11:43 am By Samantha Hurst  |  

On Tuesday, Biz2Credit released its latest small business lending index that revealed loan approval rates at big banks and institutional lenders have improved to all-time highs in September 2016. Sharing details about the index, Rohit Arora, CEO and co-founder of Biz2Credit, stated: “The Federal Reserve… Read More

October 7, 2016 @ 3:45 pm By Samantha Hurst  |  

Earlier this week, peer-to-peer lending platform Zopa announced it has teamed up with Airbnb as a way to help UK customers pay back their home loans. The lender revealed borrowers just need to sign up to become an Airbnb host through a link on their Zopa dashboard…. Read More

September 16, 2016 @ 9:44 am By Samantha Hurst  |  

Earlier this week, RateSetter announced it has surpassed 100 million in car financing. and is considered the first peer-to-peer lending platform to lend the amount through motor partnerships. Sharing details about the new milestone, head of RateSetter Motor Finance, Nick Elkan, reportedly stated: “These are exciting… Read More

September 15, 2016 @ 4:09 pm By Erin Hobey  |  

Financeit, a cloud-based point-of-sale financing platform, and Concentra, a wholesale finance and trust solutions provider for Canada’s credit unions, today announced the acquisition of TD Bank Group’s indirect home improvement financing assets, with a book value of approximately $339 million. As part of the agreement,… Read More

September 2, 2016 @ 10:11 am By Samantha Hurst  |  

Earlier this week, India-based lending platform Loadtap announced it secured $3 million during its Series A funding round, which was led by HNIs, Dr. Abhishek, and Jaysukh Sapra. LoanTap was launched earlier this year and is headquartered in Mumbai with an office in Pune. Its co-founders, Satyam Kumar… Read More

August 24, 2016 @ 5:28 pm By Samantha Hurst  |  

Mumbai-based non-banking financial company, InCred Finance, announced on Monday it secured Rs 500 crore ($75 million) during its funding round, which was led by Anshu Jain, the former co-CEO of Deutsche Bank, with participation from angel investors and private equity firms. According to Business Standard, Jain invested… Read More

August 23, 2016 @ 11:24 am By Erin Hobey  |  

Financeit today announced the launch of Financeit Direct, a direct-to-consumer financing platform. available 24/7 from any location on any device. Aiming to streamline point-of-sale financing which has traditionally been a complicated and paperwork-heavy process only accessible to large merchants, Financeit Direct is mobile-enabled and fully paperless…. Read More

August 9, 2016 @ 11:09 am By Samantha Hurst  |  

On Tuesday, Biz2Credit unveiled the findings of its recent small business lending index, which revealed that loan approval rates at big banks (over $10 billion in assets), alternative lenders, and credit union dipped in July 2016. CEO of Biz2Credit and who oversaw the research, Rohit… Read More

August 1, 2016 @ 8:59 am By Samantha Hurst  |  

Over the weekend, real estate crowdfunding platform iFunding announced it had raised a total of $750,000 for a senior bridge loan in Denver, Colorado. The website confirmed that this loan is structured to accommodate a dynamic real estate strategy. The Bruckal Group was selected for the loan… Read More

July 12, 2016 @ 11:37 am By Samantha Hurst  |  

Online resource for small business finance, Biz2Credit, released its latest Small Business Lending Index on Tuesday, which revealed that small business loan approvals at banks continued to improve. According to the report, small business loan approval rates at big banks ($10 billion+ in assets) improved to a… Read More

June 23, 2016 @ 9:24 am By Samantha Hurst  |  

Real estate crowdfunding platform PeerStreet announced on Wednesday that it has reached several major growth milestones. The funding portal shared it has funded more than $75 million, with thousands of investors now active on its site, and returned $25 million to investors with zero losses to… Read More

May 24, 2016 @ 9:04 am By Samantha Hurst  |  

On Tuesday, Online lender to SMEs, OnDeck (NYSE:ONDK) announced it was expanding lending Canada’s small businesses by including a line of credit up to CAD$50,000 and loan term up to CAD$250,000 to help meet the growing needs of the country’s 1.1 million small businesses. In… Read More

April 27, 2016 @ 1:18 pm By JD Alois  |  

    The first quarter of 2016 saw the US economy slip into a bit of a funk. Lingering questions regarding the sustainability of the economic recovery were buffeted by geopolitical tensions. The marketplace lending industry was in no way immune to the shifting winds… Read More

April 26, 2016 @ 1:27 pm By Erin Hobey  |  

The US’ largest marketplace lender LendingClub Corp. is planning its first sale of bonds backed by its unsecured loans, reported the WSJ, seeking new funding sources in today’s challenging market. Working with Goldman Sachs Group Inc. and Jefferies Group on the offerings, LendingClub’s plans to discuss updates with potential investors as early as this week, reported the WSJ; Goldman… Read More

April 12, 2016 @ 11:05 am By Samantha Hurst  |  

Last week, Regions Bank announced it has formed a partnership with marketplace lender Avant to offer its customers with a new loan application process. According to the bank, the agreement will combine its already established banking and online presence with Avant’s tech platform to provide a fast, convenient digital… Read More

April 7, 2016 @ 10:57 am By Samantha Hurst  |  

Groundfloor,a real estate crowdfunding platform based in Atlanta, Georgia, announced on Thursday it has reduced its loan interest rates by 10 to 50 basis points. According to the funding portal, the loan rates will now start at 5.9 percent for “fix-and-flip” renovations. According to Groundfloor, investors… Read More