Tagged: marketplace

LendingClub Adds Warehouse Credit Agreement to Finance Loans

LendingClub (NYSE:LC) has filed an 8K with the Securities and Exchange Commission indicating it has entered into a Warehouse Credit Agreement on October 10th with “certain lenders.” In connection with the Warehouse Agreement, “LendingClub Warehouse” also entered into a Security Agreement with the Administrative Agent… Read More

P2B Investor Program Allows Community Banks to Lend More with Marketplace Lending Partnership

P2B Investor has launched an interesting partnership program that is good for banks, good for borrowers and good for P2Bi. Banks, typically smaller banks, would like to lend more to SMEs but are risk averse due to multiple reasons. P2B Investor’s new program allows the… Read More

LendingClub Q3 Earnings Report Scheduled for November 7th

  LendingClub (NYSE:LC), the largest marketplace lending platform in the US, has scheduled its quarterly earnings report for November 7th, at 5PM ET (2PM PT). A live webcast of LendingClub’s call will be available at the Investor Relations portion of the LendingClub websit under the… Read More

bitJob Secures $2 Million to Launch Decentralized Platform for Student Employment

bitJob announced on Wednesday it has secured $2 million to launch its global, decentralized marketplace for student employment powered by blockchain technology. According to the company, the new marketplace is offering students the opportunity to earn income and sharpen their skills while enriching their resumes,… Read More

Marketplace Lender LoanBook Partners with Sage in Spain

LoanBook, a large SME marketplace lender based in Spain, has formed a new partnership with Sage, a market-leader in cloud accounting, payroll and payments software, to offer Sage’s Spanish customers a direct, in-product channel to alternative finance options. According to LoanBook, Sage will offer its… Read More

PeerIQ Securitization Update: Market Conditions are Strong

PeerIQ, a deep data platform that bridges lenders and the capital markets, periodically publishes a report that provides a unique view into the alternative lending sector. The company is out with their Q3 report that delivers a point in history perspective on online lending. Ram Ahluwalia,… Read More

Peer to Peer Lender Beehive Raises $5 Million Series A

  Beehive, based in Dubai and MENA’s leading peer to peer lending platform, has raised $5 million in funding as part of a Series A round led by Riyad TAQNIA Fund along with participation by the Mohammed Bin Rashid Fund (MBRF), the financial arm of… Read More

LendingClub Completes 2nd Self Sponsored Loan Securitization with $323 Million Deal

LendingClub (NYSE: LC) has sponsored and contributed to its second securitization deal following the the last successful self sponsored deal this past June. The “Consumer Loan Underlying Bond” (CLUB) Credit Trust 2017-P1 (CLUB 2017-P1) issued $323.1 million in prime notes backed by consumer loan assets originated via… Read More

Did Lending Just Change for Good?

Bank lending regulations have rarely been thought of as dynamic or exciting but last night’s ruling by the Consumer Financial Protection Bureau (CFPB) to allow a lender to begin using alternative data in their underwriting could herald the beginning of a new era in lending… Read More

Milestone: SmartBiz Loans Top $500 Million in SBA Loans Funded

SmartBiz Loans, an SBA loan marketplace and bank-enabling technology platform, announced on Thursday it has topped $500 million in loans funded. The platform reported that this milestone comes on the back of its other recent successes, which includes the addition of a fifth bank to… Read More

China: WeiyangX Fintech Review

Online Marketplace Lenders Banned from Lending to College Students in China On September 6th, Zhao Jianjun, deputy director of the Department of Finance at Ministry of Education, announced at a press conference that online marketplace lenders are banned from lending to college students in China…. Read More

Mintos Marketplace Adds ID Finance Loans Issued in Georgia

ID Finance, an emerging markets focused Fintech company, is now listing investment opportunities on the Mintos marketplace incorporating prime personal loans issued under its Solva brand in Georgia. Solva is a fully owned ID Finance subsidiary in Georgia that has disbursed 28,000 personal loans worth… Read More

LendingClub Schedules Investor Day in NYC, Live Audio will be Available

LendingClub (NYSE: LC), the largest marketplace lending platform in the US, has scheduled an investor day in New York City. The event, which is by invitation only, will take place on Thursday, December 7, 2017. CEO Scott Sanborn and other executives from the LendingClub management team will provide… Read More

LendingClub Hit with Lawsuit

LendingClub (NYSE:LC) has been hit with a lawsuit that names former CEO Renaud Laplanche alongside current and former board members and former CFO Carrie Dolan. The complaint, filed in the Court of Chancery in Delaware, states; “Throughout the period December 11, 2014 and continuing through… Read More

RiverNorth: Executing on Providing Income for Investors in Marketplace Lending Loans

RiverNorth is out with an encouraging note on its fund that invests in marketplace lending platform loans. As of the end of July 2017, RiverNorth’s portfolio consisted of 10,173 loans, with an average loan size of $10,176. The RiverNorth Marketplace Lending (NASDAQ:RMPLX) is designed to provide… Read More

Largest Lender: Funding Societies is First P2P Lender to Join International Association of Credit Portfolio Managers

Singapore based Funding Societies has become the first peer-to-peer lending platform to become a member of the International Association of Credit Portfolio Managers (IACPM), a prestigious forum for credit risk management. Funding Societies also reported that risk expert Terry Tse has joined the online lender’s… Read More

Prosper Progress: Online Lender Reports Strong Q2 Growth, Closes $500 Million Securitization

Prosper Marketplace, a leading marketplace lending platform, has reported improved numbers for the second quarter.  Prosper has shared that it generated positive operating cash flow for the quarter and originations rocketed up 74% year over year. Prosper said they experienced strong demand for its personal… Read More

LendingClub CIO: Delinquencies Decline as Marketplace Lending Model Continues to Improve

LendingClub‘s (NYSE:LC) CIO has posted an update on the online lenders performance including some perspective into the LendingClub model. The executive explains that part of the power of the marketplace lending model is the iterative nature of the loan making process. Over time, data generated… Read More

LendingClub Reports Q2 Revenue Growth, Raises 2017 Outlook

LendingClub (NYSE:LC) is out with Q2 numbers and the marketplace lending platform is showing a top line increase for the quarter and for the first half of the year. Loan originations in Q2 increased versus same quarter year prior as well. During Q2 top line… Read More

Down Round: Prosper Said to Raise Money at Dramatic Valuation Drop

Prosper Marketplace, one of the largest marketplace lending platforms in the US, is reportedly raising capital again at a significant decline to previous valuations. According to a report in the Information, Prosper is raising equity capital at a valuation of $550 million. This represents a… Read More