Tagged: online lending

March 20, 2020 @ 3:16 pm By Therese Torris  |  

The management of October, the Paris-headquartered European SME lending marketplace, announced today a three-month freeze on capital repayment in order to support the business continuity of its SME borrowers during the coronavirus crisis. A Capital Reimbursement Freeze The moratorium concerns loans granted by October to… Read More

March 20, 2020 @ 7:40 am By JD Alois  |  

Yesterday (March 19), the Australian Government announced an investment of up to $15 billion to enable smaller lenders to continue supporting Australian consumers and small businesses due to the Coronavirus (COVID-19) pandemic. In a statement by The Hon Josh Frydenberg MP, Treasurer of Australia, he… Read More

March 19, 2020 @ 7:52 pm By Omar Faridi  |  

Square Financial Services, the de novo industrial bank established by payment services firm Square, has received conditional approval from the Federal Deposit Insurance Corporation (FDIC) for its deposit insurance application. The approval gives Square permission to introduce banking services, which it’s reportedly planning to launch… Read More

March 19, 2020 @ 7:40 pm By JD Alois  |  

Celsius Network, a blockchain-based marketplace platform, is reporting profitability after just 18 months of operation. The crypto platform enables users to borrow or lend crypto assets. The company claims that it distributes 80% of its revenue back to the depositor community as weekly interest income…. Read More

March 19, 2020 @ 2:06 pm By Samantha Hurst  |  

Following the recent outbreak of COVID-19 in the UK, online lending platform LendInvest announced that its platform is still functioning and that it is still “Open for Business.” LendInvest reported that on Monday it instructed all London-based staff to work remotely, which followed the government’s… Read More

March 19, 2020 @ 1:15 pm By Samantha Hurst  |  

Boro, a U.S.-based provider of loans and financial education to students, announced on Wednesday it secured $12 million through its Series A funding round, which was led by Chinese fintech group, LexinFintech. Founded in 2015, Boro claims to be a leading consumer financing platform for… Read More

March 18, 2020 @ 1:13 pm By Samantha Hurst  |  

Bank replacement platform Honeycomb Credit announced on Wednesday it is now offering loans to small businesses that are in need of working capital during the coronavirus pandemic. As of March 18th, there are 7,038 cases of the virus with 97 total deaths. According to Honeycomb… Read More

March 18, 2020 @ 9:00 am By JD Alois  |  

Online lender Kabbage has launched a new website “www.helpsmallbusiness.com” designed to support SMEs during the Coronavirus crisis. According to a release distributed by the Fintech, the initiative is a “call to action” that enables anyone to purchase an online gift certificate from participating small businesses… Read More

March 17, 2020 @ 10:31 pm By Samantha Hurst  |  

U.S.-based online lending platform Lendio announced on Tuesday it has facilitated over $2 billion in loans to small businesses across the U.S. The online lender also reported that it has originated more than 100,000 loans as well. Founded in 2011, Lendio claims to be a… Read More

March 17, 2020 @ 1:34 pm By JD Alois  |  

Small business loans remained at a record high level during the month of February, according to the Biz2Credit Small Business Lending Index. The report indicates that the approval percentage for small business loan applications at big banks ($10 billion+ in assets) stayed flat at 28.3%… Read More

March 16, 2020 @ 11:48 pm By Omar Faridi  |  

India-based NBFC Clix Capital Services Pvt Ltd (Clix), an established online lending platform, has introduced an artificial intelligence (AI)-powered bot, called “Maya,” in order to improve customer experience. Maya will assist the lending service’s clients in acquiring quick loans by first checking their credit scores… Read More

March 16, 2020 @ 9:26 am By JD Alois  |  

LendingClub (NYSE:LC) has issued an 8-K this morning reacting to the highly volatile macroeconomic environment fueled by the Coronavirs, or COVID-19, pandemic. LendingClub said they “have not observed changes in application trends, deterioration in loan performance or significant shifts in investor demand.” But in light… Read More

March 16, 2020 @ 9:02 am By Omar Faridi  |  

Two major Fintech companies, Aion Digital and Qarar, are teaming up in order to accelerate the growth and development of online lending platforms across the Middle East region. According to a press release, the collaboration between the two Fintechs aims to “revolutionize the credit market”… Read More

March 12, 2020 @ 8:16 am By JD Alois  |  

Calling it a turning point for the blockchain sector, Figure has completed the first asset-backed securitization using blockchain. The transaction reportedly saved over 100 basis points thus representing a dramatic cost reduction. In a world populated with thousands of blockchain-focused firms, Figure represents a prominent… Read More

March 10, 2020 @ 3:16 pm By JD Alois  |  

Figure Technologies, Inc., a blockchain-based lending platform, says the recent Fed rate cut has been good for business. In fact, Figure is reporting a whopping 300% increase in loan applications hurdling loans funded to over $1 billion. 30 year fixed interest rates on mortgages were… Read More

March 10, 2020 @ 12:56 pm By Samantha Hurst  |  

Celsius Network, a cryptocurrency lending, and borrowing platform, announced on Monday it has formed a new partnership with Prime Trust, a custody and escrow platform providing services to both traditional and digital assets, to offer its retail and institutional clients custodial services from several global… Read More

March 10, 2020 @ 9:30 am By JD Alois  |  

Fintech Zopa is celebrating 15 years of operation. Founded in 2005, Zopa was the one platform to launch an entire sector of Fintech as it became the first peer to peer lending platform in the UK. Today, Zopa still offers online lending in a more… Read More

March 10, 2020 @ 9:08 am By JD Alois  |  

Kreditech has rebranded to Monedo. The company is a point of sale (PoS) lender. The online lender claims to have over one million customers that have received more than 2 million loans. In a release, Monedo said it was looking to “further grow its position… Read More

March 8, 2020 @ 11:10 pm By Samantha Hurst  |  

UK-based peer-to-peer lending startup Elfin Market is set to close its equity crowdfunding campaign on Seedrs with more than £700,000 secured. The funding round was launched in January and quickly surpassed its initial £400,000 funding target. Elfin is currently offering 5.80% in equity through the… Read More

March 5, 2020 @ 7:01 pm By JD Alois  |  

Assetz Capital, a UK based peer to peer lender, has topped £1 billion in online lending. Assetz Capital surpassed £500 million in lending in June of 2o18 so the platform is picking up steam. Launched in 2013, Assetz Capital provides access to credit for SMEs,… Read More