Tagged: online lending

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 fo $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

LendingClub’s LCX Marketplace Now Allows Bidding on Loans Before Issuance

LendingClub Corporation (NYSE: LC), the largest marketplace lender in the US, is expanding its LCX platform to provide biding and pricing on loans prior to issuance. This marketplace is said to operate down to the individual loan level thus providing exceptional granularity, according to a… Read More

LendingClub Report: We are observing resilience on the platform

LendingClub (NYSE:LC) has published a blog post and affiliated 8-K updating on platform performance during a challenging market pummeled by COVID-19. During the last earnings report, LendingClub reported loan originations down in April by a whopping 90%. Today’s missive is a bit more optimistic as… Read More

Online Lender Prospa Recognized as the MFAA State Excellence Fintech Lender Awards

Prospa, an online lender serving Australian SMEs, says it did a clean sweep of the MFAA State Excellence Fintech Lender Award for the third year running. According to the Fintech, the company has received the Fintech Lender Award for QLD at the fifth and final… Read More

Lendio Partners With Lendistry to Provide Economic Opportunities & Progressive Growth For Minority Small Business Owners

  Online lending platform Lendio announced on Tuesday it has formed a new partnership with Lendistry, an online lender that focuses on providing economic opportunities and progressive growth for minority small business owners and those in underserved communities. Lendio reported that through this partnership, it… Read More

Kabbage Announces Juneteeth as a Company-Wide Holiday

Global financial service platform Kabbage announced on Thursday it will now and always recognize Juneteeth as a company holiday. Juneteeth is an official American holiday and an official Texas state holiday that celebrates annually on the 19th of June to commemorate Union army general, Gordon… Read More

Mumbai based Online Lender InCred Acquires Fintech Platform Qbera

Mumbai based online lender InCred has reportedly acquired Fintech platform Qbera. The acquisition has come as India struggles to cope with the COVID-19 outbreak and associated challenges. InCred and Qbera haven’t disclosed the amount paid for the transaction, however, sources claim the deal may be… Read More

LendInvest Joins Sesame and PMS Lender Panel For Buy-to-Let & Bridging Production Distribution

LendInvest a UK-based marketplace for property financing, announced on Wednesday it has joined Sesame and PMS’s lender panel to ramp up distribution of its Buy-to-Let and Bridging products. According to LendInvest, the network and mortgage club’s member firms will now be able to register with… Read More

Brazilian SME Online Lender BizCapital Secures $12 Million Through Series B Funding Round Led By DEG

BizCapital, a Brazil-based SME online lending platform, announced on Wednesday it secured $12 million through its Series B funding round, which was led by German development finance institution DEG, a subsidiary of  KfW Group, Germany’s promotional bank. Along with DEG, MELI Fund, the Corporate Venture Capital… Read More

Assetz Capital Tops £500,000 on Seedrs, Looks for Matching Money Under Future Fund

Assetz Capital, a secured peer to peer lender operating in the UK, recently launched a securities offer on Seedrs. Assetz Capital claims to be the second-largest peer to peer business lender in the UK. In about a week, Assetz Capital raised its £500,000 minimum target… Read More

Kabbage Launches PPP Application for Drivers & Delivery People Using Uber

  Global financial service platform Kabbage announced on Tuesday it has expanded its Paycheck Protection Program (PPP) with a customized application for drivers and delivery people who use Uber in the U.S. The Paycheck Protection Program is part of the $2 trillion Coronavirus Aid, Relief,… Read More

Upgrade Closes $40 Million Series D, Values Company at Over $1 Billion, Advised by FT Partners

Upgrade, Inc., has closed on a $40 million Series D funding round led by VC fund Santander InnoVentures – part of the global banking firm Santander Group. The new funding gives Upgrade a valuation of over $1 billion. FT Partners, the top Fintech focused investment… Read More

Marketplace Lender October Adds new Predictive Risk Tool to Platform Facilitating Instant Loans

October, an online lender serving European SMEs, has launched a new predictive risk tool to instantly respond to requests for State Guaranteed Loans. Like other regions, the COVID-19 crisis has hit European businesses hard. In order to help them get back on their feet, the… Read More

New Service by InstaReM Converts Corporate Cards Into Working Capital

InstaReM has announced a new service that helps SMEs in Singapore with their cash flow. The service termed BizPay, utilizes credit limits in corporate cards and converts them into working capital, according to a release from the company. InstaReM, the consumer and SME brand that… Read More

CrowdProperty Milestones: £75 Million Lent & Funding of 1000 homes Worth £170 Million

Property investment platform CrowdProperty announced on Tuesday it has lent more than £75 million to SME property professionals and has now funded the development of 1,000 homes that were worth almost £170 million, enabling over £60 million of spend on labor, materials, and services in… Read More

British Banking Group Metro Bank Reportedly in Talks to Acquire P2P Lending Platform Ratesetter

UK-based banking group and lender Metro Bank is reportedly in advanced talks to purchase p2p lending platform Ratesetter. According to Sky News, the duo has entered into exclusive discussions about the acquisition. Founded in 2010, RateSetter states it offers a “simple and accessible way” to… Read More

EstateGuru Adds Former BNP Paribas Executive to Supervisory Board

EstateGuru, a peer to peer lending platform that offers secured loans to SMEs, has appointed Gabriella Kindert to its Supervisory Board as an independent member. The move is described as being in line with the Fintech’s expansion strategy as the company strives to become the… Read More

dv01: Total Loan Impairments and Delinquencies Decline as COVID-19 Lingers, Online Lenders Remain Resilient

  dv01 has recently published another report tracking the impact of COVID-19 on the online lending marketplace. dv01 is a top data aggregator tracking the online lending industry. dv01 connects directly with the largest online lenders in the consumer world to, normalizing loan data, providing… Read More

Fintech Firms Must Properly Manage Cash Flow, as COVID-19 Is Making it Challenging to Assess Credit Risk, Monedo CEO Says

David Chan, CEO at Monedo (previously Kreditech), a point of sale (PoS) lender that claims to have more than one million customers who have reportedly received over 2 million loans (as of March 2020), says that the online lender has a global addressable market of… Read More

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