Tagged: online lending

RiverNorth Marketplace Lending Announces Final Results of Repurchase Offer

RiverNorth Marketplace Lending Corporation, an established and currently operating as a closed-end interval fund dedicated to the marketplace lending asset class, announced on Thursday the final results of its repurchase offer for up to 5%, or 349,075 of its outstanding common shares. RiverNorth reported that… Read More

Consumer Lending Platform Upgrade Launches “Upgrade Card,” Offers Flexibility of a Credit Card at Lower Cost

Upgrade, an online consumer lending platform, has launched a new physical credit card labeled “Upgrade Card.” The card is designed to provide the convenience of a credit card combined with lower interest rates associated with installment loans. According to a release, interest rates start at… Read More

Two New CEOs Appointed at Deutsche Handelsbank as Bank Focuses on Fintech, SMEs

Deutsche Handelsbank has appointed two co-CEOs. Deutsche Handelsbank is an interesting institution that is focused on Fintech. Originally launched as a payment transaction service provider, today the bank provides SME loans, including factoring, as well as savings accounts. On top of this, Deutsche Handelsbank provides… Read More

P2P lending Platform Beehive Announces First SME Facilitating Funding in Bahrain

Peer to peer lender Beehive announced on Tuesday it has facilitated funding for its first SME in Bahrain. According to the online lending platform, the SME, Bahrain-based Mira Packaging Factory, manufactures disposable paper cups and other food packaging solutions to the GCC and African F&B industry.  “Since… Read More

Fastest Growing Fintech in Spain: ID Finance Predicts €90 Million in Revenue this Year, Plans Crowdfunding Round on Crowdcube

ID Finance, said to be the fastest-growing Fintech in Spain, is queuing up a crowdfunding offering on Crowdcube. ID Finance reports that it should hit €90 million in top-line revenue this year making it one of the largest companies to raise capital on Crowdcube so… Read More

Peer to Peer Lender Linked Finance Announces “Beyond Brexit” Loan for Irish SMEs

Linked Finance is announcing a new product as the deadline for a Brexit deal nears. The Ireland based peer to peer lending platform has launched new “Beyond Brexit” loans for Irish SMEs. The new loans are said to provide working capital to Irish businesses preparing… Read More

App based Lending Platform Lenmo Seeks Up to $3 Million on SeedInvest

Lenmo, an alternative lender that is a marketplace for investors to fund loans all on an App, is raising up to $3 million on SeedInvest. Lenmo is a small-dollar lender that will provide credit when banks say no as it will accept subprime borrowers –… Read More

UK-based Fintech Equals Launches New Loan Service Via Partnership With SMB Lender iwoca

UK-based Fintech firm Equals Group (LON:EQLS), which provides a travel card to around 1 million users, global payments solutions for companies, and tools to manage finances, has launched its first loan for small- and medium-sized businesses (SMBs) through a partnership with SMB lender iwoca.  Equals… Read More

Dateline Dallas: Lend360 – A Year of Fintech Mergers and Acquisitions

Initial Thoughts Every year, thousands of finance professionals from banks, credit unions, specialty financing companies and Fintech companies converge at Lend360. It’s an annual pilgrimage where decision-makers in the financing sector come together to learn from each other and plan ahead for the new year…. Read More

StreetShares Partners With Farm Bureau Bank to Provide Small Business Lending Services

Financing small businesses lender StreetShares announced on Wednesday it has teamed up with Farm Bureau Bank (FBB) to provide small business lending to FBB’s members. StreetShares reported that by using its Lending-as-a-Service (LaaS) platform services, the bank may now offer small business loans with a digital… Read More

RiverNorth Marketplace Lending Announces Monthly Distribution of $0.18 Per Share

Money Benjamin Dollars 100

RiverNorth Marketplace Lending Corporation, an established and currently operating as a closed-end interval fund dedicated to the marketplace lending asset class, announced on Tuesday its monthly distribution of $0.18 per common share for the months of October, November, and December 2019. According to RiverNorth, the… Read More

More Competitive than Banks: Funding Xchange Shows Borrowing Costs Lower at Alternative Lenders

Funding Xchange says that borrowing costs for some UK businesses are dropping. Funding Xchange tracks the activity of 40 lenders specialising in small business lending. According to their forthcoming “SME Lending Monitor,” 60% of businesses with a reasonably good credit profile are able to access… Read More

Lendio’s Latest Study Reveals Hispanic Business Owners Are Hungry for Growth Capital

U.S.-based online lending platform Lendio announced on Monday its latest study revealed that Hispanic business owners are hungry for growth capital. The lender reported that the study, which included more than 5,000 of Lendio’s small business customers, reveals a spike in loan inquiries from Hispanic… Read More

Lendio Set to Double Sales Force; Announces Loan Product Offering Expansion

U.S.-based online lending platform Lendio announced this week it has plans to double the sales force at its Lehi, Utah, and Woodbury, New York, offices. The lender reported that it has hired 80 employees in 2019 and intends to add another 40 sales representatives by… Read More

Germany: Kreditech Gains €20 Million in Equity Financing, Plans Global Expansion

Online lender Kreditech has raised €20 million in its latest funding round, according to a note from the company. Apparently, the additional capital will help the Fintech scale globally in its goal to provide credit to near-prime customers. The funding was co-led by Runa Capital… Read More

Equifax Partners with Alchemy Technology on White Label Lending Solution to Accelerate Fintech Adoption

Equifax (NYSE:EFX) and Alchemy Technology have inked a new partnership to help banks and “specialty finance firms” as well as Fintechs accelerate their development with a white label lending solution. According to a release, Alchemy will provide the nuts and bolts lending software while Equifax… Read More

Funding Circle Provides Lessons from “Foreign Frameworks” in Comment Letter Addressing SEC’s Concept Release on Regulatory Harmonization

Funding Circle lobby

Funding Circle (LSE:FCH), a leading peer to peer (marketplace) lending platform serving SMEs, has posted a comment letter regarding the Securities and Exchange Commission (SECs) concept release on regulatory harmonization. Funding Circle is the largest peer to peer lender in the UK – the country… Read More

Reserve Bank of India Instructs Institutions to Stop “Agents” From Accessing Credit Bureau Data

The Reserve Bank of India (RBI) recently instructed local banks and non-bank lending institutions to stop “agents” from reviewing credit bureau data.  The central bank’s directive could have a negative impact on software service providers, who work with local banks to assess credit quality. Several… Read More

Natwest’s Standalone Digital Lending Platform Esme Loans Increases Maximum Loan Amount to  £250,000

Esme Loans, NatWest’s standalone digital lending platform for SMEs and scale-up businesses, announced this week it has increased its credit appetite with the maximum loan amount moving to £250,000 from £150,000 to support more UK SMEs.  According to NatWest, Esme Loans has lent over £70million… Read More

TBF Financial Reports Purchase of $60 Million in Commercial Debt from “Major Online Lender”

TBF Financial says it has purchased nearly $60 million in non-performing loans from a “major online small business lender,” according to a company release. The specific online lender remains unnamed. TBF CEO Brett Boehm states: “We are seeing growing interest from online lenders who want… Read More

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