Tagged: online lending

March 24, 2020 @ 5:47 pm By Samantha Hurst  |  

Online lending platform Lendio announced on Tuesday it has joined companies through the U.S., including Biz2Credit, Credibly, Fundbox, Homebase, Kabbage, Funding Circle, Plaid, LendingTree, and Wisely, to send a letter to the U.S. Senate and House of Representative leaders to approve $500 billion in discretionary… Read More

March 24, 2020 @ 3:50 pm By Samantha Hurst  |  

UK-based online lending platform LendInvest announced its latest update regarding the deferments of BTL payments during the COVID-19 outbreak. According to the online lender, landlords with a LendInvest mortgage who believe they will have genuine difficulties making their payments as a result of the COVID-19… Read More

March 24, 2020 @ 8:24 am By JD Alois  |  

Camino Financial, a lender with a mission is to catalyze economic growth within low-to-moderate income communities, is out with a report on the US Latinx SME market and their credit needs. The Camino Financial U.S. Latinx Small Business Survey – Q4 2019, the first in… Read More

March 23, 2020 @ 5:47 pm By JD Alois  |  

LendingClub (NYSE:LC), the leading marketplace lending platform in the US, has issued another 8K outlining moves the company has taken to gird its platform during the Coronavirus pandemic. Last week, LendingClub issued a similar 8K outlining moves it had taken as interest rates and credit… Read More

March 23, 2020 @ 11:10 am By JD Alois  |  

Creditshelf Aktiengesellschaft (CSQ.F) is reporting that revenue increased 92% during 2019. According to a release, creditshelf saw revenue increase to €4.564 million from year prior of €2.4 million. The growth was due in part to a successful partnership with Commerzbank. Creditshelf is an online lender… Read More

March 20, 2020 @ 10:37 pm By Samantha Hurst  |  

Marketplace lending company Funding Circle (LSE: FCH) announced on Thursday that despite the outbreak of COVID-19, it is reassuring investors that it is taking appropriate measures to respond to the situation and give them details on the various issues that are currently going on through… Read More

March 20, 2020 @ 9:50 pm By Samantha Hurst  |  

UK-based online lending platform LendInvest released more information about its operations during the COVID-19 outbreak. The online lender reported it has been monitoring the ongoing pandemic and so far it has not affected the its lending services. “All of our London-based staff are working remotely…. Read More

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