Tagged: online lender

September 19, 2021 @ 11:43 am By Omar Faridi  |  

Over 70% of UK SMEs claim that they’re beginning to bounce back following the COVID-19 outbreak, according to a survey performed by Capify, a small business lender backed by Goldman Sachs (NYSE:GS). The Capify survey, released earlier this week, found that the United Kingdom’s small… Read More

April 23, 2021 @ 7:56 am By Omar Faridi  |  

European online lender  October says its always looking for and finding ways to empower businesses by simplifying and “democratizing” their funding. Since 2014, October has been helping SMEs in five different countries, becoming one of the leading small business lending platforms in Europe. October confirms… Read More

April 20, 2021 @ 8:23 am By Samantha Hurst  |  

  Bespoke Financial, a U.S.-based fintech that provides debt financing to cannabis companies, announced on Tuesday it raised $8 million through its Series A funding round, bringing the company’s total funding to date to over $28 million. According to Bespoke, the investment round was led… Read More

April 18, 2021 @ 10:12 pm By Samantha Hurst  |  

    U.S.-based online student loan lender Earnest announced on Friday it has appointed David Green as its new CEO, as Susan Ehrlich, the company’s CEO since 2018, steps down to retire. The lending platform reported that Green has held many roles with the company over the… Read More

March 10, 2021 @ 7:49 am By Samantha Hurst  |  

Roostify, a U.S.-based digital lending platform, announced on Wednesday it has appointed Roger Fendelman as its first ever Chief Compliance Officer. According to Roosify, Fendelman has nearly 25 years of experience at the intersection of compliance and technology.  He will oversee the company’s governance, risk,… Read More

March 3, 2021 @ 7:50 am By Omar Faridi  |  

Online lender Funding Circle (LSE:FCH) recently noted in blog to its small business customers what the roadmap out of the COVID-19 lockdown means for small businesses. On February 22, 2021, the UK government announced its “highly anticipated” four-phase roadmap out of the Coronavirus-related lockdown —… Read More

February 2, 2021 @ 8:21 am By Samantha Hurst  |  

  LendingUSA, a U.S.-based fintech lender that provides loans to small businesses ranging from $1000 to $35,000, recently announced it has teamed up with Cross River Bank to open second round of Paycheck Protection Program (PPP) applications for small businesses. LendingUSA reported that small business… Read More

January 21, 2021 @ 9:25 pm By Samantha Hurst  |  

Australasia’s peer-to-peer lending marketplace Harmoney announced this week it has exceeded its loan origination forecasts for the six months to 31 December 2020 (on an unaudited basis), delivering total loan originations of NZ$194m for the period, 2% ahead of Prospectus forecasts. The marketplace also revealed… Read More

January 19, 2021 @ 11:07 pm By Omar Faridi  |  

Online balance sheet lender, Nucleus Commercial Finance, reports that it has secured a £200 million funding line, which should help with increasing the platform’s capacity or ability to support more UK-based businesses. The new funding line should help ensure that the lender is well-positioned to… Read More

January 12, 2021 @ 2:59 pm By Samantha Hurst  |  

  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

January 8, 2021 @ 11:14 pm By Samantha Hurst  |  

  RateSetter, a leading UK based peer to peer lender, is reportedly telling investors that starting at the end of January 2021, it will no longer process any new transfer-in ISAs requests from other providers. According to P2PFinance News, the online lender stated it will… Read More

December 31, 2020 @ 9:14 am By Samantha Hurst  |  

  Online lending platform Lendio announced on Wednesday its plans to hire a total of 500 employees by the end of January 2021. The online lender is set to hire 190 full-time temporary-to-hire employees by January 7th, with the help of recruiting firm, PrincePereison. “During… Read More

December 1, 2020 @ 7:49 pm By Omar Faridi  |  

Online lender October, which is one of Europe’s leading business financing platforms, has issued over €479 million worth of loans to 1097 different projects since it began offering services around 6 years ago. October has attracted 22,813 investors, which reportedly includes tier-one institutions as well…. Read More

November 23, 2020 @ 7:52 am By Samantha Hurst  |  

LendingUSA, a U.S.-based fintech lender that provides loans to small businesses ranging from $1000 to $35,000, announced on Monday it has appointed Narine Yenovkian as its new Vice President of Compliance. LendingUSA reported that in her new role, Yenovkian will lead the Compliance Department in… Read More

November 10, 2020 @ 1:22 pm By Samantha Hurst  |  

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

October 23, 2020 @ 2:04 pm By Samantha Hurst  |  

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

October 18, 2020 @ 4:50 pm By Omar Faridi  |  

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

October 13, 2020 @ 9:16 am By Samantha Hurst  |  

    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

October 9, 2020 @ 9:50 pm By Omar Faridi  |  

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

October 9, 2020 @ 3:26 pm By Omar Faridi  |  

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