Tagged: online lender

Brazilian SME Online Lender BizCapital Announces Additional $3 Million Investment Through Series B Funding Round

BizCapital, a Brazil-based SME online lending platform, announced on Friday it secured an additional $3 million through its Series B, bringing the investment round’s total amount to $15 million. The new funds come from Netherlands-based social impact investor Oikocredit. As previously reported, BizCapital provides online… Read More

Online Lender October Is Expecting its Lenders’ Returns to be Impacted Negatively due to COVID-19 Crisis

Marc Sebag, the Chief Risk Officer at October, a top European online lender, had answered important questions last year (in June 2019) about defaults and the continuous improvements that the platform makes to its scoring model. The October team acknowledges that the COVID-19 outbreak has… Read More

Enova Announces Completion of OnDeck Acquisition

    Enova (NYSE:ENVA) announced on Tuesday it has officially completed the acquisition of online lender OnDeck (NYSE:ONDK). Enova revealed in July 2020 it had purchased OnDeck for $1.38 a share, including $0.12 in cash. As previously reported, Enova is a provider of online financial… Read More

Online SME Lender Funding Circle Comments on CBILS Deadline Extension, Explains How to Apply

Funding Circle (LSE: FCH), an SME lender that facilitates loans in both the US and parts of Europe, notes that the Coronavirus Business Interruption Loan Scheme (CBILS) was originally scheduled to end on September 30, 2020. But the UK government has confirmed that the CBILS… Read More

P2P Lender Robo.cash Claims it’s Been Successful During Current Crisis Because of Profits from 2019 and Working with Affiliated Loan Originators

A study recently performed by the European peer to peer (P2P) lending platform Robo.cash reveals that the main factors for its success during COVID were the profits it generated in 2019 and “work with affiliated loan originators.” Robo.cash claims that “remarkably, interest rates, funding volumes… Read More

Solar & Home Improvement Contractor Point-Of-Sale Lender Dividend Finance Announces New Lending Platform & Broader Loan Product Suite

  Dividend Finance Inc., a U.S.-based fintech that specializes in point-of-sale lending to solar and home improvement contractors, announced on Wednesday the launch of a new technology platform. Founded in 2013, Dividend claims it is a leading national provider of renewable energy and energy-efficient financing… Read More

Biz2Credit’s Latest Small Business Lending Index Reveals: Small Business Loan Approval Rates At Banks Fell Again in September 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) dropped slightly from 13.6% in August to 13.5% in September, indicative of the struggles… Read More

LendInvest Update: Raises LTVs to 80% and Launches Funding for Student Lets/ First-Time Landlords

LendInvest a UK-based marketplace for property financing, announced earlier this week it has introduced updates to its Buy-to-Let product range; including raising its LTV and maximum loan limits, and broadening its lending criteria to include first-time landlords and student lets. LendInvest reported it is now… Read More

Fintech Veteran Ron Suber Joins Yieldstreet’s Board of Directors

YieldStreet, an online marketplace for a diverse array of asset-backed investments, announced on Wednesday it appointed Ron Suber, President Emeritus of Prosper Marketplace, and a leading fintech investor, to the Yieldstreet Board of Directors. As previously reported, Ron Suber is one of the better-known names… Read More

Santander Bank Announces Partnership With Roostify For Digital Home Lending Platform

Santander Bank announced on Thursday it has joined forces with Roostify for its digital home lending platform, EZApply. According to Santander, the platform provides a “convenient” way for customers to apply for the bank’s home lending services. Santander further explained that the platform offers a… Read More

BlueVine Announces $75 Million Revolving Credit Facility

BlueVine, an online lender and Fintech bank, announced on Wednesday it has secured a $75 million revolving credit facility from funds managed by Atalaya Capital Management, a private credit and special opportunities investment manager based in New York. The company further revealed that it provided… Read More

Australian Online Lender Prospa Says More Support Needed for Open Banking Adoption, Agrees with Fintech Report from Senate Committee

Prospa (ASX: PGL), an online small business lender based in Australia and New Zealand, has reportedly welcomed the interim report recently released by the Senate Committee on Fintech and Regtech. But Prospa has also come to an agreement with other industry participants that a lot… 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

Online SME Lender Funding Circle Confirms BBLS and CBILS Loan Schemes Ending Soon, Explains How to Apply

Funding Circle (LSE: FCH), an SME lender that facilitates loans in both the US and parts of Europe, notes that the Bounce Back Loan Scheme (BBLS) will be ending in early November of this year. The BBLS has been provided via the British Business Bank… Read More

UK based P2P Lender RateSetter Wins Award for “Best Loan Provider,” After it Struggled to Maintain Operations and was Acquired by Metro Bank

RateSetter, a leading UK based peer to peer (P2P) lender that was recently acquired by Metro Bank, has confirmed that it won the award for “Best Loan Provider” for loans of £2,500 or more at the Consumer Credit Awards for 2020. The Consumer Credit Awards… Read More

Online P2P Lender Robo.cash Claims it’s Still Profitable, Despite COVID-19 related Issues, and Is Preparing for IPO in Dec 2020 in Australia

Online peer to peer (P2P) lender Robo.cash is reportedly getting ready to conduct its initial public offering (IPO) in Australia in December of this year. Robocash Group, which is the parent company of Europe based P2P lender Robo.cash, will be the next Fintech service provider… Read More

Fintech Lenders in India are Trying to Implement RBI’s One-Time Loan Restructuring Scheme

Fintech lenders in India are reportedly looking for ways to implement the Reserve Bank of India’s (RBI) loan restructuring scheme. Non-bank Indian companies and online lending platforms are trying to rework their loan collection and overall business strategies, according to the ET, which cited sources… Read More

U.S. Small Business Lender LendingUSA Scores $200 Million Investment Commitment From Atalaya

LendingUSA, a U.S.-based fintech lender that provides loans to small businesses ranging from $1000 to $35,000, announced on Thursday it secured a $200 million investment commitment from Atalaya Capital Management, a New York-based privately held investment advisory firm. As previously reported, LendingUSA specializes in point… Read More

Lendio’s New Report Reveals How Network of Lenders Converged to Secure $8 Billion in PPP Loan Approvals (Infographic)

Online lending platform Lendio announced on Wednesday its latest report reveals how its network of lenders converged to help secure $8 billion in Paycheck Protection Program (PPP) approvals. The lender reported that more than 100,000 small business owners utilized its online application to access the… 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

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