Tagged: online lender

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

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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

Kabbage to Stop Accepting New Applications for Paycheck Protection Program Before August 8th Deadline

Global financial service platform Kabbage announced it will not be accepting new applications for the Paycheck Protection Program after August 6th (today). The online lender decided to close the application process for new applicants before the August 8th deadline in order to finalize existing applications…. Read More

U.S. Digital Lending Platform Roostify Announces Enhancement in Credit Services Product

Roostify, a U.S.-based digital lending platform, announced on Wednesday the enhancement of its Credit Services product. Roostify reported that through this new integrated service, the platform’s customers can select tri-merge, single bureau, soft and hard credit pulls directly from the Roostify’s site. “Integrated credit is… Read More

Biz2Credit Analysis of COVID-19 Effects on Small Businesses Reveals: Revenues Dropped 52% and Payrolls Declined 54%

Small business funding platform Biz2Credit announced on Tuesday its new Small Business Financial Health Survey, a study of primary data from 300 small business owners who received funding through the U.S. government’s Paycheck Protection Program (PPP), revealed year-over-year second quarter revenues of small business owners… Read More

Fintech Become, an Online Lending Platform for SMEs, Is Offering Business Loans for E-Commerce Sellers

Fintech firm Become, an online lending platform for SMEs, notes that digital or e-commerce has been accelerated by about 4-6 years due to COVID-19 which has led to permanent changes in consumer behavior. Individuals and business owners are increasingly using all-digital services, instead of visiting… Read More

European Marketplace Lender October Reports a “Record Month,” 55 Projects Received Funding During July 2020

October, a leading European online lender, reveals that it was definitely not “idle” during the month of July 2020, despite the challenges created by the global COVID-19 outbreak and the resulting economic uncertainty. October claims that July 2020 was a record month, during which 55… Read More

Real Money Management Professional Laura Whateley from Zopa Recommends Repaying Towards Debts As Soon As Possible

Laura Whateley, a real money management correspondent at Zopa, a Fintech lender and digital bank, notes that at the beginning of the COVID-19 pandemic, it wasn’t really clear how our finances would be affected, and that might still be the case for many individuals and… Read More

SME Lender Funding Circle Reports that Millions of UK Consumers have Switched to Local Businesses

Funding Circle (LSE: FCH), an SME lender that facilitates loans in both the US and parts of Europe, recently noted that as the Coronavirus-related lockdown measures are eased, many businesses in the United Kingdom are preparing to open up again. However, even for businesses that… Read More

David Bradley-Ward, CEO at UK’s Asset-backed Lender Ablrate, Says He “Sees Light at the End of the Tunnel” Despite COVID-19 related Problems

Peer to peer (P2P) lending platform managers have different predictions or expectations about how Innovative Finance ISA (IFISA) inflows will perform during this tax year in the United Kingdom. David Bradley-Ward, CEO at Ablrate, an asset-backed lending platform, claims that net inflows on the platform… Read More

UK Digital Lender Selena Finance Secures £42 Million in Funding via Equity and Debt Financing

London-based Selina Finance, an online lender that provides secured home equity loans at competitive rates, has secured £42 million in capital through a Series A funding round. The funding reportedly includes £12 million in equity from Picus Capital and Global Founders Capital and £30 million… Read More

CrowdProperty Milestone: Lends £80 Million to SME Developers & Funds Development of More Than 1,000 Homes Worth Over £170 Million

Property investment platform CrowdProperty announced earlier this week it has lent £80 million to SME  developers – funding the development of 1,000+ homes worth over £170 million. This news comes just a little over a month after CrowdProperty surpassed £75 million in lending.  Founded in… Read More

Folk2Folk Teams Up With CrossLend to Strengthen Institutional Investor Strategy

Folk2Folk, a unique peer to peer lending firm that focuses on rural businesses, announced on Thursday its new partnership with institutional digital debt marketplace CrossLend as it continues to build its institutional investor-base. The collaboration comes just after Folk2Folk received accreditation approval for CBILS Coronavirus… Read More

Online P2P Lender Robo.cash Claims Alternative Lending Platforms have Improved Investment Offering During COVID-19

Robo.cash has revealed that peer-to-peer (P2P) investors on its platform have increased the size of their initial investments despite the COVID-19 outbreak and resulting economic challenges. The European P2P lending platform has reported that the first investment made by investors increased from £822 to €909… Read More

LendingPoint Announces Launch of SDKn Technology to Simplify Consumer Credit Approval for E-Commerce & Point of Sale Purchases

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LendingPoint, a data and technology platform dedicated to democratizing credit and accelerating commerce,  announced on Wednesday the launch of its Lending Operating System (LOS), SDKn, which creates an instant consumer credit pre-approval platform for businesses of all sizes offering affordable financing options to the widest… Read More

Online Lender Lendio Announces Winners of $200,000 in Small Business Grants

Online lending platform Lendio announced on Friday the winners of a $200,000 grant program aimed at helping its small business customers recover from economic hardship caused to the global COVID-19 pandemic. Lendio reported that Through the program, 23 small business owners have been selected to… Read More

European Online Lender October has Now Closed Financing for its 100th Spanish Company

October, a leading European online lender, notes that it was launched after the global financial crisis of 2008-2009 with the goal of providing more financing options or alternatives to European SMEs. The October team wrote in a blog post published on July 1, 2020: “We… Read More

Kabbage Approves More Than 209,000 Paycheck Protection Program Applications For $5.8 Billion

Global financial service platform Kabbage announced on Wednesday it has approved more than 209,000 Paycheck Protection Program (PPP) applications for $5.8 billion. Kabbage claimed it is the third-largest PPP lender in the country by application volume.  As previously reported, the PPP is part of the… Read More

Lendio Facilitates $8 Billion in Paycheck Protection Program Loans to 100,000 Small Businesses (Infographic)

Online lending platform Lendio announced on Wednesday it has facilitated $8 billion in Paycheck Protection Program (PPP) loans for 100,000 small businesses to date. The lender reported that it has supported 300 SBA-approved financial institutions and fintech lenders across the country, as well as helped… Read More

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